On Thursday, the UK general election might end up in a hung Parliament, maybe a constitutional crisis, and could mark the beginning of two years of uncertainty over the country’s European Union membership.
On May 11, eurozone finance ministers will once again meet to try and come up with a short-term fix to the ever-festering Greek crisis.
On May 12, after several weeks of barrel-scraping, Greece will pay back a €774 million loan to the IMF. Or maybe not. Which would then trigger the dreaded debt-default spiral that could push Greece out of the monetary union.
No wonder the City of London is worried. In the “square mile” — the heart and muscle of Europe’s financial industry in the British capital — many players fear the coming end of a year of renewed exuberance, with fast-rising stock markets and the return of mega-deals. More generally, some think that exacerbated political uncertainty will compromise Europe’s fledgling recovery.