News for hackers. Stuff that matters.

A comment on British pound hits record low against the dollar. Parent comment

Re:British pound hits record low against the dollar by denton-scratch on Monday September 26, 2022 @12:36PM (#32985214)
The UK has not cut itself out of the European market, any more than the US is excluded from trading in Europe.
[ Parent | on HN ]
Re:British pound hits record low against the dollar by woodruffw on Monday September 26, 2022 @01:32PM (#32985855)
I said common market. The UK is no longer in the EU common market[1], and is thus in the exact same position as the US.

Unlike the US, however, the UK was previously in the EU common market. As a result, the global economy is now correcting for the UK's newly diminished trade efficiencies with the EU, whereas nothing has substantially changed for the US.

[1]: https://en.wikipedia.org/wiki/European_single_market

[ Parent | on HN ]
Re:British pound hits record low against the dollar by denton-scratch on Tuesday September 27, 2022 @03:02AM (#32992287)
Oh, OK. The "common market" is the name for an old form of the EU, that was really just a trade zone, without the "social" rules. We joined the Common Market, but we left the EU.
[ Parent | on HN ]