Quote Originally Posted by Stewie View Post
Sorry you are wrong britain has allowed sterling to devalue ie it has not propped it up look at the current euro to sterling rate and compare it to pre crisis rates it's upto 30% drop. This has effectively made britains produce cheaper and reduced britains wage rates compared to it's neighbours. Yes it has made imports more expensive and will lead to inflation but in the depths of recession neither of them are the biggest concern.
not propping up and devalueing a currency are different things in the past Ireland
announced percentage devaluations of the currency, Britian did not do this