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Old 07.07.2016, 11:53
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Re: The Brexit referendum thread: potential consequences for GB, EU and the Brits in

For those clinging to the idea that devaluation of the £ will boost UK exports, this guy would tend to disagree

http://www.georgemagnus.com/ftse-isn...-world-but-is/

Quote:
You should note that the Pound has been falling since it reached $1.71 in July 2014, and yet the UKís trade and external payments position has gotten steadily worse. In the first quarter of 2016, the UKís trade deficit was the biggest recorded since 2008. So donít let anybody tell you that a cheaper currency, plain and simple, is a good thing for the economy. It depends.
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