Humiliation for Liz Truss, the pound jumped 1% against the dollar after the announcement of her resignation.
The British currency had unscrewed to the lowest level in its history after the announcement of its "mini-budget", which had dragged the country's economy into violent financial turmoil.
Reputed to be solid, the country's debt found itself faced with a sharp rise in interest rates, as we usually see in emerging countries.
The rate of ten-year bonds flirted, at nearly 4.6%, with that of Italy, while that of thirty-year loans exceeded, at nearly 5%, that of Greece.
"An extremely violent epidermal reaction from the markets to a strategy that bordered on the absurd, revealing the lack of backbone of this British government",
analyzes Franck Dixmier, of Allianz Global Investors.
The Moody's agency was alarmed by an
“unsustainable debt trajectory”;
Standard & Poor's put it on a “
negative”
outlook .
Read alsoResignation of Liz Truss: from Brexit to the “mini-budget”, the miscalculations of the tories
At about…
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