TCS (NSE:TCS) CEO N. Chandrasekaran sounded optimistic when he said during an interview that TCS had not seen an impact from the Europe debt crisis among its clients. Particularly since the company’s multi-million dollar UK outsourcing contract with PADA appears to have been in jeopardy for quite some time.

Following the UK elections and subsequently, the naming of the country’s new Prime Minister David Cameron and Chancellor George Osborne has pushed government outsourcing contracts in limbo, as companies anticipate the stance the new government will enforce.