The inconclusive result of the British General Election leaves the UK open to a Greek style financial meltdown next week with the independent pound proving a magnet for speculators and the cost of government debt set to surge, raising interest rates.
The UK stock market fell sharply on Friday as the non-result became clear, and the pound tumbled. But this situation is likely to worsen as the political impasse is not going to be easily solved, and whatever happens necessary austerity measures to reduce the UK deficits will now be watered down.
http://www.arabianmoney.net/banking-fin ... l-markets/
