@MirrenGidda
ON JULY 4, 11 days after the U.K. voted to leave the European Union, New York–based ratings agency Standard & Poor’s issued a warning. Because of Brexit, it said, “the U.K. will barely escape a fullfledged recession,” and the decision to leave will drag down the U.K.’s predicted growth in 2017 by 1.2 percent of gross domestic product (GDP). The situation would get worse, it added, should the Bank of England not succeed “in keeping turmoil in financial markets in check.”
Which is ratings-agency-speak for: “Mark Carney, for the love of God, save us all!”