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November 22, 2018


Robert Mitchell

Gilts are used for overnight funding and they are scarce. Unlimited currency swap lines means that Sterling can be swapped for dollars at away-from-market policy rates, thus essentially eliminating foreign exchange risk. Finance makes anything profitable, especially Brexit. Why would you want to maintain a union with an organization that treated Greece so badly and is now doing the same to Italy?

Rob Jordan

... or Yeats: The best lack all conviction, while the worst are full of passionate intensity.

Andrew Curry

@robert mitchell: you’re confusing the EU and the eurozone. They aren’t the same thing, though they are commonly conflated. In saying this, I am not defending what the EU has done to Greece, Greece’s foolishness in joining, Goldman Sachs’role in fiddling the figures in support of that foolishness, or the worldview and economic illiteracy that sits behind German ordo-economics.

Chris Herbert

If the Brits have troubles it will be because of a lack of investment. You want a good economy, keep your currency and make good products. Brexit has nothing to do with this.

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