George warned that Britain would risk economic hardship if it scrapped the pound in favor of the euro at its current rate. Despite its recovery over the last month, the euro has lost about one quarter of its value against the dollar since its launch in January 1999.
Entering at the present exchange rate would put "uncomfortable" expansionary pressures on
- World’s largest SWF bars investment in four companies for guideline breaches
- ECB needed better data in 2008 crisis, says Lautenschläger
- Brazilian government must respect central bank independence – IMF
- Is the pursuit of a common accounting standard for gold a fool’s errand?
- Seychelles must act fast on money-laundering, says central bank