December 30, 2008
Sterling collapse
Story link: Sterling collapse
As the article writer suggests, the sterling collapse was one of the many things that was on the card for the UK economy. On the other hand, this may have a positive affect on exports, as the devaluation should hopefully see a lot more exports leaving UK shores.
The collapse of the pound against the euro has been so precipitate that the scale of the decline has barely been recognised.
With retailers falling over like ninepins, house prices in freefall and daily warnings of surging unemployment, it has been below the radar.