Election victory puts George Osborne back in the hot seat, but doesn’t give him any more influence than before over the global economy’s upheavalsWhen George Osborne was offering his post-match analysis in the bleary aftermath of the Tories’ stunning victory on Friday morning, he singled out the Greek debt crisis as the first challenge he will face on returning to No 11.Both Osborne and Balls, his Labour opposite number, fought the general election campaign as though whoever won would be entirely the master of Britain’s economic destiny. Yet chancellors are always to some extent the prisoners of outside events; and the new government, with its slim majority, could be buffeted by any of a series of threats in the global economy. Continue reading...
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