The Chief Economist of the European Central Bank (ECB) stated a few days ago that markets, despite their recent calm, were not reflecting the uncertainties about the future. One of these is political uncertainty. In this case, no one can claim a lack of information.
Nevertheless, the ECB board member considered its importance to be such that monetary policy must be prepared to limit its potential impact on the economy. I would also add, to cushion the impact on markets.
