Tom Scholar, Sue Gray, Allegra Stratton discussed on Bloomberg Daybreak Europe


How civil servants are within those high levels of government? Yeah this is a concern. And of course, what we're trying to understand is that if Liz trust will do this differently. So we know that she's, you know, she doesn't believe in boring orthodox economics, that she wants to blow things up and she's not afraid of doing so. The problem, if you're a civil servant, do you speak your mind? Do you get listened to? And is there a concern down way down the road than actually the economics just don't make sense? So we were explained, for example, if you put a policy in place, for example, a fiscal policy, then you go to treasury and they say, well, this is possible, but these are your options to get it done. If you can't rely on that check and balance anymore, you wake up to three years from now and say, look, the bounce of payment is off the charts because of the structure of the economy, you still rely on the kindness of strangers, like Mark Carney had said. So you need that kind of check and balance to make sure that it's palatable for international investors. It's interesting how events happen and suddenly a civil servant whom we've never known the name of comes to the fore and suddenly done at household name. I think if Sue gray are now Tom scholar, so who was or who is Tom scholar, what was his role? Yeah, so one of the points that Allegra Stratton was saying is that even the top civil servant were not really supposed to know who they are because they put the motions in place, they're not usually at the front page of news. And this is why the UK has always worked this relationship between ministers between elected power and civil servants, where they are a political where they don't really take a stance on policy, is so precious to the running of this democracy. So he was a top civil servant, maybe there was animosity in between, but watch out to see if there was anything else like this happening again. Okay, that was francia taking us through the details of this week's in the city podcast. We should check out the podcast on iHeartRadio Apple podcasts or whether ever you usually listen there's a new episode out every Thursday. Okay, just briefly checking the markets before we get to break here at 9 40 here in the City of London. The FTSE 100 currently down a tenth of a percent trading at 7272, but the benchmark in Europe is down more than 1% 1.2% is the drop be swing across the benchmark significantly risk off then a waiting for additional catalyst these markets, but this is a sell off that is deepening. Future stateside also pointing lower by between one and 1.2% yields up across the space twos, 5s, tens and 30s stateside, and of course the currencies with the pound at one 1373 that's drop of 8 tenths of a percent levels last seen in $1985 strength, a key factor. Plenty more coming up, this is Bloomberg. Adopt U.S. kids present circle is bringing together developers and entrepreneurs

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