From Newsmax:

Harvard professor Niall Ferguson sees the handwriting on the wall with Britain’s currency, and he doesn’t like what he sees.

“The probability of a real sterling crisis is around one in three, and the probability of major tax hikes and cuts in public spending is roughly one in one,” the British financial historian told Bloomberg Markets.

The deterioration of the U.K.’s public finances already has prompted Standard & Poor’s to warn on May 21 that the country could lose its AAA rating.

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