February 25, 2009

EU officials show concern to currency drop

Story link: EU officials show concern to currency drop

European Union officials are on their edge of their seats thanks to the slide in the UK currency, the Great British Pound!
The currency has seen its biggest fall and has hit a record low in comparison with the Euro, which could have a disastrous effect on the UK economy in the long term. European Union officials are looking at ways to stabilise the currency before the UK collapses!

EU officials show concern to currency drop

European Union officials are concerned that the pound’s slide to a record low against the euro could destabilize the British economy, according to a document prepared last month by European Commission and EU finance ministry officials.
The pound’s “very rapid” drop “raises questions about the financial stability of the British economy,” said the document, which was prepared ahead of the Feb. 14 Group of Seven meeting in Rome and obtained by Bloomberg News. The currency’s weakness “is a source of concern for the euro area.”


 

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