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A comment on Brexit wins. An illusion dies. Parent comment

Re:Brexit wins. An illusion dies by bhouston on Friday June 24, 2016 @08:37AM (#11969279)
UK has a high debt load and is now more isolated than it was. Those are problematic when they are tied together. But I think that what is a major bonus for the UK is that they control their own currency and possibly their debt is issued in UK Pounds (is it?) -- that could be very useful in making their exports attractive if shit hits the fan.

If their debt is not in UK Pounds, it will limit their economic flexibility severely, and I think could lead to a default if things go bad (which we are currently quite far away from right now.)

Thus is the UK debt in UK Pounds? Or is it mostly denominated in Euros, Yen or USD?

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Re:Brexit wins. An illusion dies by jacquesm on Friday June 24, 2016 @09:12AM (#11969521)
The UK national debt is all in Pounds.

But whether or not that is an advantage is hard to establish, that all depends on how much of an export position the UK will have post brexit.

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Re:Brexit wins. An illusion dies by bhouston on Friday June 24, 2016 @09:29AM (#11969616)
The UK can inflate its debt away, that is always a nice option to have. Greece couldn't do that, and that was a major reason why it was being crushed.
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Re:Brexit wins. An illusion dies by aries1980 on Friday June 24, 2016 @10:18AM (#11969916)
They would not just devaluate the debt but the domestic assets as well.
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