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Tories say markets view UK as high risk investment

Conservative Shadow Chancellor George Osborne says credit default spreads show the markets feel there is a high risk of the UK defaulting on its national debts.

Osborne says that CDS spreads show the market view of the UK Government defaulting on its debts has reached a record high, above that of Portugal, Belgium, the Netherlands, France, Finland, Germany and Norway.

He says: “Just a week after the pre-Budget report, the markets are delivering their own verdict on Gordon Brown’s plans to double the national debt to over £1trn.

“Thanks to the Government, many European countries, including Portugal and Belgium, are seen as safer investments than the UK.”


Libor plummets to 3.37%

Libor rates have plummeted to just 3.37 per cent but still remain far off from Bank base rate after yesterday’s interest rate drop.


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