Public Finance Woe Batters Pound Again ; ECONOMICS [Edition 2]
THE pound's collapse worsened sharply today as it emerged Britain's public finances are in their worst state since records began after the Second World War.
Sterling crashed below $1.38 and EUR 1.07 as investors took an increasingly gloomy view of the economy and the increasing likelihood that the Government could lose its AAA credit rating.
At the heart of today's public finances figures for December was the nearnationalisation of Royal Bank of Scotland, which added about Pounds 20 billion to the nation's debt burden. A further Pounds 2 billion was spent shoring up building society Bradford & Bingley and refinancing the financial services compensation scheme …
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Publication information:
Article title: Public Finance Woe Batters Pound Again ; ECONOMICS [Edition 2].
Contributors: Not available.
Newspaper title: The Evening Standard (London, England).
Publication date: January 21, 2009.
Page number: 24.
© Not available.
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