You wonder if the Governor of the Bank of England is right, though.
The scale of the mistakes made in our economy, and the unaffordability of the public sector, means that we are faced with substantial cuts whoever comes in. Whatever happens. BoE chief thinks that whoever is in charge as it happens will be unelectable for a generation afterwards. Maybe it's best to lose this one...
Your prediction of a shambles is probably right, but I'd expect a proper coalition to emerge with no second election (from what I hear).