THE pound faces a rough week with uncertainty over the outcome of the general election and concerns over the public finances threatening to trigger a new wave of selling.
A dwindling Conservative poll lead is heightening fears of a hung parliament. Fears over Greek debt, which were undermining the euro, have begun to hit sterling, as concerns have grown that worries over sovereign debt could spread.
George Papandreou, the Greek prime minister, will hold talks with Angela Merkel, the German chancellor, on Friday. Their meeting comes amid a report that a German-led bailout for Greece will involve KfW, the state-owned development bank, buying or guaranteeing Greek government bonds.
However, several leading private German banks have said they will not buy any more Greek debt and yesterday the German finance ministry refused to comment on the plan.
More here: http://business.timesonline.co.uk/to...cle7043834.ece (if you get 404 error this is because The Times got tulip website that gives this error for some browsers
).
A dwindling Conservative poll lead is heightening fears of a hung parliament. Fears over Greek debt, which were undermining the euro, have begun to hit sterling, as concerns have grown that worries over sovereign debt could spread.
George Papandreou, the Greek prime minister, will hold talks with Angela Merkel, the German chancellor, on Friday. Their meeting comes amid a report that a German-led bailout for Greece will involve KfW, the state-owned development bank, buying or guaranteeing Greek government bonds.
However, several leading private German banks have said they will not buy any more Greek debt and yesterday the German finance ministry refused to comment on the plan.
More here: http://business.timesonline.co.uk/to...cle7043834.ece (if you get 404 error this is because The Times got tulip website that gives this error for some browsers
).
Happening tomorrow is a bit early for my liking. Hopefully it will be occur over a week, rather than hours.
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