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Countdown to €/£ parity | 102 comments (102 topical, 0 editorial, 0 hidden)
Re: Countdown to €/£ parity (4.00 / 6)
If the UK joins the European Exchange Rate Mechanism it will become vulnerable to a Soros attack and, again, it will depend on the Eurozone's willingness to defend the exchange rate.

Most economists teach a theoretical framework that has been shown to be fundamentally useless. -- James K. Galbraith
by Carrie (migeru at eurotrib dot com) on Thu Dec 11th, 2008 at 04:59:01 PM EST
Re: Countdown to €/£ parity (4.00 / 8)
Which in turn requires that Eurozone countries have confidence in UK fiscal/economic policies in the first place - which won't happen under current policies - and current policies won't be changed at the behest of the Germans - which means that ERM won't happen short of a post Iceland melt-down rescue package and radical political culture/ policy change.

notes from no w here
by Frank Schnittger (mail Frankschnittger at hot male dotty communists) on Thu Dec 11th, 2008 at 05:05:48 PM EST
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Countdown to €/£ parity | 102 comments (102 topical, 0 editorial, 0 hidden)
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