One of the world’s leading investors voiced the markets’ concerns. Jim Rogers, of the Singapore-based Rogers Holdings and co-founder of the Quantum fund with George Soros, told Bloomberg Television: “I would urge you to sell any sterling you might have. It’s finished. I hate to say it, but I would not put any money in the UK.”
Some are now drawing parallels between Britain and Iceland, except that Britain can’t repudiate bank debt the way Iceland did because the damage would be catastrophic and worldwide.