Britain and the Markets, plus under-reported news

Fraser Nelson claims that ‘the markets’ view Britain as some sort of dysfunctional economy tottering on the edge of national collapse.

Call me strange but I prefer to seek ‘the markets’ view from Bloomberg rather than the Spectator.

‘Pound Makes Britian No Basketcase as Brown Trails’.

As fair a summary as any.

What does interest me – given that the IMF’s forecast that Britain would have the worst recession of any G7 country was front page news is this:

Britain’s economy will shrink less than the U.S. and Europe this year, the Organization for Economic Cooperation and Development said on March 31. The U.K. will contract 3.7 percent, compared with 4.1 percent in the 16-nation euro-region and 4 percent in America, the Paris-based OECD said.

Now that’s a nasty recession but not the worst in the G7.

(And, to be clear, I personally do not welcome the pound’s rebound).