Its just a continuation of the pseudo Communists in the present British Govt. They have helped ruin the banking system of the West and now hope to take over Europe. It's no coincidence that £1=E1 !! They nearly bankrupted the UK in the 70s. Did bankrupt Russia in the 80s and are well on their way to bankrupt UK and then Europe now, hoping to set up a Marxist state in Europe ! Left wing loonies still promoting a failed system. USA and others beware
GBP/USD next historical support is 1.05 (1985) GBP/JPY passed all support levels back to 1975 GBP/CHF again no support available GBP/EUR same Still in free fall, rumours of UK defaulting started to come out I am no politician, nor economist, nor do I understand FA, but even I understand that the whole country's economic policy has to be totally restructured, creating some sort of positive expectation, otherwise UK probably is staring a default right in its face.
well, let's face it, what do you reckon the assets on some of these banks balance sheets are really worth? official stats say UK housing market only dropped 15% last year. Yeah, right! More like down 30-35% so if assets get marked to market, well we have a mismatch don't we? They will tell you it's all about confidence and that's why kick starting the housing market back is an obsession with G. Brown and A. Darling. Not gonna happen. Bye bye UK. IMF here we come.
Instead of talking about global FX rates perhaps you should, study geography- Armagh is in N.Ireland (right on the border with Southern Ireland), which is part of the UK, which is where Sterling is used. So your argument should read that the Eurozone should use Sterling to make your poker game easier.
You seem to be missing the key fact here that the Pound IS Sterling. Its known as the Pound Sterling. I think the disconnect between the name and the FX symbol (GBP or Great British Pound) is proving too much for your speak 'n spell brain to follow...
Even more so now, I think dumping GBP for EUR is foolish, as it's only a matter of time before the EUR follows suit.
It would be easy to get sterling to rally. Announce government spending cuts. Cancel trident, nhs computer, id cards, incapacity benefit, schools building program, sack diversity coordinators. The list is endless. Joining the euro would mean higher interest rates, not going to happen.
Unfortunately I can see gordon raising taxes to 50% before he cuts his benefits life-support machine for labour voters....