Mortgage rates to rise as Euro crisis hits UK

The Bank of England has warned of an extended squeeze on household incomes, saying the worsening eurozone crisis had made it more expensive for banks to raise money and UK borrowers could suffer from higher interest rates as a result, writes The Times. In extraordinarily blunt words, Sir Mervyn King, the Bank Governor (pictured), said that Britain had been forced to put in place contingency plans as the eurozone was showing signs of "tearing itself apart". His stark outlook came as recriminations flew across Europe, with David Cameron discarding normal diplomacy to concede for the fir...