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UK stock market wobbles on election and debt fears

The gradual decline of the UK stock market continued today with a 1.5% reduction in the FTSE 100 amid concerns about a possible hung parliament and the UK debt situation. This is not exactly the situation a new government would like to face come Friday morning and ultimately major concerns about national debt have transferred from Greece to other areas of the Eurozone. The UK has the largest debt pile as a percentage of GDP in Europe which is causing great concern within the European halls of power.

The election saga has been ongoing for some time now although the sudden and unexpected surge in support for the Liberal Democrat party caught many analysts by surprise. Whether this surprise increase in support has waned on election day remains to be seen as recent polls have placed the Labour Party in second place again.

Even though many of the hierarchy in the Labour Party have discounted any chance of victory this evening, there is no doubt that Gordon Brown is enjoying something of a renaissance on the eve of the biggest election in the UK for many years. But will it be enough to sweep the Labour Party back into 10 Downing Street, as the majority party or as part of a coalition?

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