Here’s a good variation on an old joke:” I used to be an economist, now I just can’t make up my mind.”

Those two rivals of the Sunday Broadsheet world, the Sunday Times and the Sunday Telegraph both chose to run articles on the cost of last week’s security alert. Here’s the take from the Times; “Terrorism alerts: could send stocks down by 10%.#148; The Telegraph, on the other hand, said: “Terror scares – little threat to tourism.#148;

The Sunday Times, with its focus on the bad news, quoted Ted Scott, a senior fund manager at F and C, who said “the terrorist scare at UK airports has highlighted the fact markets have been complacent about geopolitical risk, and have not factored in a high enough risk premium.” On the other hand, the Telegraph, seeing things through its half full glass spoke to Tom Wright, the chief executive of visit Britain, who said that, since 2001 tourism has been relatively unaffected, despite a series of scares including SARS, 9/11, Foot and Mouth and last year’s July bombings. He said: “What we have found since 2001 is that the speed of recovery is ever quicker and impacts of this sort of event are shorter in duration. With the global travel market growing at 4 percent a year, Mr Wright was quoted as calling these types of events a “blip.”

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