The events of the last 48 hours mean a financial crisis is inevitable. I've been reporting on our economy for more than 50 years and I've never felt more depressed. This is what's coming: ALEX BRUMMER

During the past 48 hours, the British Government's cost of borrowing -already the most expensive among the G7 richest countries - has reached the highest levels seen this century.

The events of the last 48 hours mean a financial crisis is inevitable. I've been reporting on our economy for more than 50 years and I've never felt more depressed. This is what's coming: ALEX BRUMMER
During the past 48 hours, the British Government's cost of borrowing -already the most expensive among the G7 richest countries - has reached the highest levels seen this century.