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When the exchange rate reaches parity, Britain will start making noises about joining the euro, but since they are not even in the exchange-rate mechanism it would take upwards of two years to join and by then maybe the pound will be worth 50 Euro cents.

When the capital development of a country becomes a by-product of the activities of a casino, the job is likely to be ill-done. — John M. Keynes
by Migeru (migeru at eurotrib dot com) on Wed Apr 30th, 2008 at 01:33:26 PM EST
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