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Jakobsen: Where does the UK election result leave the Left?

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The Conservative victory in the UK has left Britain's Labour party battered and leaderless at a time when a left-wing argument should, arguably, be appealing to voters weary of austerity and a negative economy. Instead the UK electorate seemed to be more interested in stability just as the end of austerity may be in sight. A sense of 'better the devil you know' perhaps influenced the late rally to the Tories on May the 7th.

Steen Jakobsen, Saxo Bank's Chief Economist, analyses the results and tries to interpret what the outcome may mean for the future of the centre-left movement in Europe.