Britain could face a £17.5 billion bill to save the Eurozone, as the IMF are likely to ask for further funds from UK taxpayers to prop up Europe’s ailing economy.
UK Employment reached a 17 year low, with employment rising to 8.4% pushing unemployment to 2.68 million.
The dollar slides for a third day as risk sentiment spreads through the markets. The stock markets are rallying, while the FTSE 100 is breaking through the key 5700 level.
The dollar maintained a two-day decline against the euro, with signs that the US economy is gaining momentum.
Demand for the euro was limited ahead of a second day of talks between Greece and private bondholders on a debt- swap.
The Institute of International Finance, which represents private creditors to Greece, resumed negotiations yesterday, after broken of talks last week failed to reach agreement as to how much money investors would lose by swapping their bonds.
Today France will have its first bond auction since S&P stripped the nation of its AAA credit rating, with bonds that are maturing in more than a year and debt maturing from 2014 to 2040 on offer. Spain also plans to sell as much as €4.5billion of notes along with bonds maturing in 2016, 2019 and 2022.
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