The consequences of the government stand have been as immediate as they have been unremarked (careless talk costs profits): the pound has plummeted on the foreign exchange markets. The prestige and high value of the pound sterling underwrites the prosperity of Britain’s post-industrial, consumer economy. Under the wing of the dollar, it is a global reserve currency: its demise is, for better or worse, the end of Britain as we know it.Gosh.
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posted by adamvasco at 6:17 AM on November 27, 2007