Independent: ‘Financial Markets Aren’t Afraid Of Brexit — They Are Afraid Of Incompetent Global Leadership’

An article from the Independent explains “markets worry when European political leaders make dire warnings about Brexit, not because they believe these warnings, but because they feel this shows the leaders are frightened by change”: Whatever happens in the Brexit vote next week, there has been a discomforting message from the financial markets. They have been more alarmed than reason says they should be. The particular red light that flashed most violently was the 10-year German bund yield dipping below zero. You pay money to lend to the German government for 10 years. Yet Germany is the eurozone’s largest and most successful economy. It has even lower unemployment that the UK. The government is in fiscal surplus. And it has a huge current account surplus with the rest of the world. There must be better opportunities there for savings to earn some money. Germany may be a safe haven in a sea of troubles, but my word people must think those troubles are bad to lead to this. The possibility of the UK leaving the European Union ought not to be a big enough issue to do real damage to the world economy. I know the Chancellor of the Exchequer and