Das britische Pfund hat in den vergangenen Jahren massiv gegenüber Euro und Dollar abgewertet. Das dürfte sich auch nach den Unterhauswahlen fortsetzen, denn keine Partei hat ein Rezept gegen Großbritanniens ausufernde Staatsverschuldung, schreibe ich in meiner Kolumne für den australischen Business Spectator:

No more hope or glory for Britain

The last time the Bank of England had much reason to celebrate was on March 13, 2007. It was on this day that Britain’s central bankers put their stylish new £20 note into circulation, which carries on it a portrait of Adam Smith. At the time, it replaced the increasingly dated looking £20 note that had depicted Edward Elgar, Britain’s most famous composer.

Sadly for sterling, though, the great economist did not turn out to be a lucky charm. Since the day that the Bank of England dropped the composer of the music for Land of Hope and Glory, the British currency lost much of its value – 22 per cent against the US dollar, 24 per cent against the troubled euro and even 33 per cent against the Australian dollar. That’s bad enough, but much worse is to come if the country does not manage to reassure investors of its fiscal credibility.

Hier weiterlesen.

(Dr. Oliver Marc Hartwich)