Guy Adams has warned that Britain faces a “terrible reckoning” unless there is a dramatic change in direction, after spending a day observing the City trading floor as markets turned sharply lower.
From an office overlooking the Barbican, Adams described traders working against a backdrop of computer screens dominated by falling prices. Men in gilets spoke into telephone headsets while the financial data flashed red across the room.
The scene formed the basis of his argument that the country may be entering a “death spiral”, with the City reflecting growing anxiety over Britain’s economic prospects and the pressures facing its public finances.
Adams said the atmosphere inside the trading room offered a stark view of how quickly confidence can shift in financial markets. His warning was that, without decisive action, the consequences could extend well beyond the dealing desks and affect the wider country.
