LONDON, June 12 British finance minister Philip
Hammond on Monday acknowledged that last week's botched national
election had created uncertainty for investors, but said he
hoped they would bide their time until there was clarity on the
"We've made it clear to markets and the business community
that we will try to generate as much clarity as is possible as
soon as we can," Hammond told Reuters.
Sterling sank to a seven-month low against the euro on
Monday as investors worried a period of political uncertainty
would further weaken an economy slowing sharply before the
launch of talks on leaving the European Union next week.
"I hope that people will be able to bide their time ... and
get a sense of how government will work," Hammond said.
Despite her party's expectations of a landslide victory,
Prime Minister Theresa May lost her majority in parliament,
pushing her into rushed talks on a support agreement with a
small eurosceptic Northern Irish Protestant party with 10
Hammond also said that the agenda of opposition Labour
leader Jeremy Corbyn was deeply flawed. It was a criticism of
the Conservative Party that these flaws were not made more
explicit in the election campaign, he added.
(Reporting by Elizabeth Piper, writing by Andy Bruce; editing
by Guy Faulconbridge)