The UK is Europe’s swing country.
By that we mean, it’s the one country in Europe that can’t quite decide whether it’s a PIIG or whether it’s one of the rich states.
It’s so leveraged (huge public, private, and financial-sector debts), tiny movements are blown out to major significance.
Right now — while other rich European countries are expected to be showing job creation — the UK just added another 23,500 unemployed to its rolls, confounding economists who expected a drop of 10,000.
Thus right now the UK still hangs in the balance. It could either by fine, or it could be the next victim of panic and aggressive speculators. The latest numbers make the latter a little more likely.
NOW WATCH: Money & Markets videos
Business Insider Emails & Alerts
Site highlights each day to your inbox.