Re:Cypriot Bailout Sends Shivers Throughout the Euro Zone
by pcrh on Sunday March 17, 2013 @06:12PM
(#5391303)
Because the UK and the US are doing what the smaller states in the EU cannot, i.e. devaluing their currency.
If the UK pound falls by X% against most other currencies, this is equivalent (in the long term) to all inhabitants of the UK losing X% of their income.
If the UK pound falls by X% against most other currencies, this is equivalent (in the long term) to all inhabitants of the UK losing X% of their income.