Sterling 'vulnerable' to currency trader attacks

The Euro Group's new president has warned the UK could be facing a "new sterling crisis" as concerns grow over the state of public finances.

Jeroen Dijsselbloem, the Dutch finance minister who took over as president in January, said Britain's high national debt and persistent budget deficit mean it is increasingly vulnerable to attacks from currency traders, the Telegraph reports. The pound has already dropped from €1.23 to below €1.16 since the start of the year. Dijsselbloem said the UK was a much riskier proposition than the US due to the state of the country's public finances, according to the paper. "England is vulnerable, it may be faster on the currency speculation. That has happened in the past. A new sterling c...