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UK recession "worst in west" - IMF prediction
Comments
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That's largely a colonial legacy.
Why do you think the pound has devalued by 25% against the Euro and dollar in the last year?
because at $2.10 it was unsustainably high? Come on, for all the muttering about devaluation is anyone seriously arguing that its hugely inflated level against a weak dollar was a good thing? Our export industry wasn't.
And the Euro? That inflated against a basket of currencies. Traders flocked to the Eurozone hoping it was a safe haven. Now they have realised it isn't the Euro is sinking back again. Hasn't helped us so far as our news has been as bad as Euroland, but watch what happens as their interest rates plunge.0 -
Why do you think the pound has devalued by 25% against the Euro and dollar in the last year?
Maybe because it was overvalued by at least 20% against the 'greenback' and 10-15% against the 'multi-colouredback', might have had a bearing on the move (that and our pathetic Governments fiscal ineptitude)'In nature, there are neither rewards nor punishments - there are Consequences.'0
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