All those Islamic radicals they let into the country are bound to blow up somehing important in London before long. I think people are beginning to realize England isn't the England of old and there might be safer places to transact finances.
Are you guys traders or economists? Remember what happens when all the media and the mobs catch onto a story. LOL.
Just a matter of time when U.K. will rescue itself into European Union. A country predominantly relying on export of financial services is not viable in the long run.
Pound Rises to $1.60 First Time Since November as Stocks Rally Share | Email | Print | A A A By Gavin Finch and Anna Rascouet May 27 (Bloomberg) -- The pound rose, surpassing $1.60 for the first time in almost seven months, as optimism the worst of the financial crisis is over stoked demand for assets denominated in the British currency. maybe it is a race to the bottom.
This is a very valid point of clarification. There is obviously no metric association with the phrase 'the U.K. is finished.' When I read the article, and view it in the context of modern day events, I am left with the deepening conviction (that I've had for some time) that those economies deeply in debt, highly reliant on financial services to generate a larger than average share of GDP (and GNP, for that matter), and who have lost a significant portion of their manufacturing base, which describes the U.K.'s economy perfectly, are economies in steep and accelerating decline as technology transfers and wide disparities in regulation, wages and other business costs put western economies such as the U.K. at a severe competitive disadvantage.