The fragile, year-old GNU has entered a new and dangerous phase. The main players, supposedly the “adults in the room”, are indulging in a risky game of tit-for-tat. The one party acts irrationally, the other reacts angrily, and the foundations of the GNU shake.

It means the probability of the coalition government collapsing any minute, any day, with no guarantee of what the future looks like, is high. It makes for a challenging, uncertain and unstable investment climate. We don’t need it...

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