The markets have already largely discounted this result but we may see shares and the pound slipping a bit further.

Why did a huge crisis erupt when the pound slipped a few percent against the mark?

In London, the pound slipped to $1.5162 late yesterday.

But the British pound slipped to $1.5740 from $1.5755.

As the pound slipped, so did the lira, despite having already been devalued by 7 percent.

The British pound slipped to $1.5805, from $1.5810 in London.

In London, the pound slipped to $1.7145 from $1.7185.

In New York, the pound slipped to $1.5440 from $1.5460.

In other trading, the British pound slipped to $1.5125 from $1.5140.

Even the British pound has slipped by around 20 percent against the dollar in the past 13 months.