Mandelson's Epstein Emails Reveal Sensitive Financial Exchanges During Eurozone Turmoil
Newly disclosed correspondence from the so-called Epstein files has revealed that Lord Peter Mandelson shared highly sensitive financial advice concerning the UK's economic stability and the Eurozone crisis with convicted sex offender Jeffrey Epstein. The exchanges occurred during May 2010, a period of extreme volatility in European markets following the global financial crisis.
Critical Advice Shared at Height of Political and Economic Crisis
The email chain shows Mandelson, then serving as Business Secretary, received detailed market analysis from an individual identified only as "Michael" during the turbulent aftermath of the UK general election. This correspondence took place just one day before Prime Minister Gordon Brown announced his resignation following Labour's electoral defeat.
Michael's message emphasised that "the volatility and lack of information among the financial investor world is at a truly unique point in the crisis." He urged that a government statement to UK market participants would provide "extraordinary benefit" for both the economy and the Labour party, recommending it should address:
- The health of UK financial markets
- The stability of the wider Eurozone
- Confidence in European Union actions
Mandelson responded promptly, telling Michael: "I am with the PM now discussing all this. I will tell him your view." This exchange occurred against the backdrop of the European Union announcing an unprecedented €750 billion bailout package to stabilise the euro, which had fallen approximately seven percent against the dollar that month.
Forwarding Sensitive Information to Epstein
Following this initial correspondence, Mandelson forwarded the entire email thread to Jeffrey Epstein, who responded that Michael "Seems a very clever and well informed man." The documents reveal this was not an isolated incident, with Mandelson apparently sharing multiple pieces of sensitive information with the disgraced financier.
In subsequent messages, Michael warned of serious liquidity concerns, stating: "UK liquidity will be a real issue in the am. There is virtually no confidence in the EU actions... Even if the ECB embarks on QE in the am, the market tension is extreme." Mandelson's brief reply noted: "The PM galvanised."
Market Mechanics and Political Fallout
The correspondence continued on 15 May 2010, with Mandelson asking how low the euro could potentially fall following negative market reactions to the bailout announcement. Michael provided detailed analysis suggesting:
- Market forces were driving down the euro while increasing European government debt costs
- European banks faced unsustainable funding levels
- Substantial increases in Libor rates were likely
- A dramatic tightening of interbank funding markets was imminent
He concluded that "in this scenario... the euro does not hold," highlighting the precarious nature of the currency union during this historic crisis period.
Broader Implications and Ongoing Investigations
These revelations come alongside other concerning exchanges, including an email from Mandelson to Epstein in late March 2010 suggesting Prime Minister Gordon Brown "needs to be confined asap to a sanitorium" and was "full on victimhood and spraying blame."
The Metropolitan Police has confirmed it is reviewing reports made by opposition parties regarding Mandelson's handling of sensitive information. These latest disclosures raise significant questions about:
- Potential conflicts of interest
- The handling of market-sensitive information
- Appropriate boundaries in political-financial relationships
- The timing of information sharing relative to market-moving events
Separate email chains suggest Mandelson may have provided Epstein with advance notice of the Eurozone bailout package, potentially allowing hours for trading on inside knowledge. Additional documents from June 2009 show Mandelson forwarded a Treasury memo detailing government plans to sell assets worth hundreds of millions of pounds.
A representative for Lord Mandelson was approached for comment regarding these latest revelations from the Epstein files, which continue to shed light on concerning relationships between political figures and the convicted financier during periods of significant economic uncertainty.
