The pound will face a 'nightmare scenario' if Corbyn becomes the PM, warns boss of US exchange
The owner of the New York and Chicago mercantile exchanges has warned the pound could face a ‘nightmare scenario’ if Jeremy Corbyn becomes prime minister.
CME Group told investors and businesses that Theresa May’s Tory government had a weak grip on power and would probably be defeated if a poll was held.
Last week, Morgan Stanley said a Corbyn victory would threaten the economy.
Jeremy Corbyn: CME boss believes if Labour Party leader becomes PM the pound will face 'nightmare scenario'
Erik Norland, CME executive director and senior economist, said the Government was ‘hanging by a thread’, adding: ‘Markets should probably be thinking carefully about the next prime minister.
‘In the event the UK takes a hard Brexit followed by a Labour victory, it could see Britain transform into a more socialist, centrally controlled economy – just one that happens to be outside the EU. This is the nightmare scenario for the pound.’
Most watched Money videos
- German car giant BMW has released the X2 and it has gone electric!
- BMW's Vision Neue Klasse X unveils its sports activity vehicle future
- Mini unveil an electrified version of their popular Countryman
- How to invest to beat tax raids and make more of your money
- MG unveils new MG3 - Britain's cheapest full-hybrid car
- Mail Online takes a tour of Gatwick's modern EV charging station
- Iconic Dodge Charger goes electric as company unveils its Daytona
- MailOnline asks Lexie Limitless 5 quick fire EV road trip questions
- Paul McCartney's psychedelic Wings 1972 double-decker tour bus
- Skoda reveals Skoda Epiq as part of an all-electric car portfolio
- Steve McQueen featured driving famous stunt car in 'The Hunter'
- 'Now even better': Nissan Qashqai gets a facelift for 2024 version
- Hipgnosis agrees £1.1bn takeover deal by Concord Chorus
- 'I'm neither hero nor villain', insists disgraced fund...
- Almost a quarter of forecourts are already charging more...
- I was left £5,000 short after 6 months waiting for state...
- The luxury giant going for gold at the Paris Olympics -...
- Wall Street pins hopes on a set of upbeat results from...
- Foxtons hails best under-offer homes pipeline since...
- Could the recent record rainfall leave our supermarket...
- Co-op Bank agrees possible £780m takeover by Coventry...
- Neil Woodford is back as a finfluencer: You may remember...
- MARKET REPORT: Airlines soar as Easyjet eyes a record summer
- Average car insurance bills rocket to almost £1,000:...
- My husband managed all my money. Now he's left me, what...
- Dunelm shares slip amid 'challenging sales environment'
- AJ Bell shares jump as it tops 500,000 DIY investors with...
- Rentokil shares slip as investors mull mixed picture on...
- Hunt raises alarm over bid for Royal Mail as 'Czech...
- G7 fights for Ukraine cash as Russia's economy booms -...