BREAKING NEWS

BREAKING NEWS

Britain set to pay financial debt for World War One

Now Reading:

Britain set to pay financial debt for World War One

Text size Aa Aa

It has been one hundred years since the start of World War One. Britain has remembered its debt to the fallen and now the country is set to repay its financial debt.

The treasury will redeem the 2.5million euro, 3.5 percent War Loan in March next year. It is a perpetual bond which means it has no fixed maturity date.

It was issued in 1932 and used to refinance debt which was accumulated during what was known as the war to end all wars.

Some market experts said they would miss the bond as a rare historical curiosity in modern finance.

“A little bit of magic has fallen out of the market,” said one.