The dominant view in Berlin at the time – particularly in the Angela Merkel chancellery and cabinet table – was to ensure all countries swallowed strong austerity medicine.

Ireland was hit with unnecessarily harsh austerity measures a decade ago at Berlin’s behest, a former German finance ministry official has conceded. (...)

Against the euro, the pound  fell to a two-and-a-half year low of around 85 pence. Photograph: Phil Noble/Reuters

Britain’s pound slumped to a new 31-year low on Wednesday, dipping below $1.28 at one point in Asian trading, as investors shunned the currency in the(...)

The British pound strengthened by the most in three months amid signs Britons are warming toward the European Union ahead of a referendum on Thursday.  Photograph: Reuters

Global equities rallied and the pound strengthened by the most in three months amid signs Britons are warming toward the European Union ahead of a ref(...)