Welcome to European Tribune. It's gone a bit quiet around here these days, but it's still going.
>>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
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