Sunday, 2 May 2010

UK faces run on pound within hours of polling as futures exchange opens early

Britain could be battered by speculators on the international money markets within hours of the election result as the futures market in bonds and sterling has agreed to open for the first time at 1am on Friday.

The City is concerned that a hung parliament could mean Britain is unable to take rapid action to cut its budget deficit and force a similar battle with bond dealers that the one that forced Greece to resort to €110bn (£95bn) a bailout package put together by the eurozone countries and the International Monetary Fund . more...


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