" Singapore-based Bruce Gale of the Political and Economic Risk Consultancy agrees: "There are a number of checks and balances in the Philippine system that might make Estrada not quite the disaster some people predict he will be.

CNN: IS ESTRADA UNSTOPPABLE?

In periods of heightened economic and political risk, investors demand higher risk premiums to hold stocks.

FORBES: Everybody's Talkin' Double-Dip

Political and economic stability are at risk throughout Latin America.

CENTERFORSECURITYPOLICY: Now, confirm Secretary Reich

Speaking on the Business Scotland programme on BBC Radio Scotland, Mr Naish - who is also a head of real estate at Scottish Widows Investment Partnership in Edinburgh - stressed that the SPF was not against or for independence, but that political and economic uncertainty increases investment risk, and that equates to cost.

BBC: Scotland independence uncertainty 'risk to investment'

To this daunting economic challenge must now be added political risk.

WSJ: U.K. Is New Recruit on Europe's Sick List

The motivation behind Mr Cameron's intervention is clear: the eurozone crisis is holding back economic recovery in Britain and, as a consequence, puts at risk his political future.

BBC: Why Cameron is backing closer European integration

On Tuesday, credit rating agency Standard and Poor's said it had downgraded Tunisia's rating, citing "a risk that the political situation could deteriorate further amid a worsening fiscal, external and economic outlook".

BBC: Tunisia Prime Minister Hamadi Jebali resigns