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>>UK could end up paying considerably more than Norway in £ terms

This statement is nonsensical. It's a canard. Krone devaluation greater than that of GBP "relative" to EUR --legal tender of EU gov't. -- was established ages ago.  GBP is not legal tender of EU gov't. Further, GBP:EUR has no parity. Were UK gov't to pay more than Norway in "£ terms", GBP not only would "break" EUR and NOK. NOK is cheaper than RMB "relative" to either GBP or EUR.

a/o today,
GBP:EUR, 1 pound buys EUR 1.08.
EUR:NOK, 1 EUR buys NOK 9.28.
GBP:NOK, 1 pound buys NOK 10.
NOK:EUR, 1:0.1078. 1 krone buys EUR 0.11.
NOK:GBP, 1:0.0999. I krone buys 10 pence.

US Treasury will never let that happen.

Diversity is the key to economic and political evolution.

by Cat on Wed Aug 30th, 2017 at 02:47:49 AM EST
[ Parent ]
Y'all keep towing the zerohedge line, devaluation is great! (so long as nobody imports anything).

Diversity is the key to economic and political evolution.
by Cat on Wed Aug 30th, 2017 at 02:59:53 AM EST
[ Parent ]
(and your gov't treasury is sitting massive reserves of foreign currency which it will lend to its natural and corporate citizens at low, low prices simply because it's fun to buy high risk, high gain "emerging market" bonds.)

Diversity is the key to economic and political evolution.
by Cat on Wed Aug 30th, 2017 at 03:04:51 AM EST
[ Parent ]
My sense is that most people 'here' - i.e. ET - are quite skeptical about claims made by zerohedge and do not share their general libertarian outlook.

"It is not necessary to have hope in order to persevere."
by ARGeezer (ARGeezer a in a circle eurotrib daught com) on Wed Aug 30th, 2017 at 04:43:31 AM EST
[ Parent ]

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