John McDonnell admits fiscal charter U-turn ‘confused’ Labour MPs ahead of party rebellion – Live – Telegraph

This Telegraph exclusive shares how Jeremy Corbyn was forced to back down just hours after threatening to sack shadow ministers who refused to oppose George Osborne‘s fiscal charter.

Source: John McDonnell admits fiscal charter U-turn ‘confused’ Labour MPs ahead of party rebellion – Live – Telegraph

This is an insightful article. It also highlights the risk of the hard-left, Labour Party leader, Jeremy Corbyn doing further damage to the UK during a state visit from China’s president next week. Let’s hope that Corbyn is given a hand to tie his bow-tie for the Queen’s state banquet.

Corbynism is already damaging UK interests with loss of military sales. Soon financial markets will start to factor in the ‘Corbyn Risk’ to financial projections and asset prices.

Thoughts?

Corbyn win shakes up U.K. Labour as Blair’s shadow fades | The Japan Times

The Japan Times features an excellent AFP article  reporting that anti-austerity left-winger Jeremy Corbyn’s crushing win to become leader of Britain’s opposition Labour Party could divide their MPs but give a boost to its grass-roots power.

Source: Corbyn win shakes up U.K. Labour as Blair’s shadow fades | The Japan Times

This is a balanced and insightful article. For me the significant comment was from former Blairite, Labour Minister, Margaret Beckett, which alluded to Corbyn’s long record of protest politics.

Even as the leader of the opposition, Corbyn will need to rise above protest politics, demonstrate leadership, strategic vision and cohesive and credible policy.

I’m not convinced that people power will prevail nor that the UK is ready to give power to the hard-left, like in Greece, for example.

Thoughts?