I thought we had a good discussion going on the sad and sorrowful decline of sterling against the euro.
Here is a chart that might add something to the debate: it follows recent net flows of private debt securities. It went from a nice positive number in quarter 3 to a nasty negative number in quarter four. Thus, it would appear that those foreigners just don't want to buy our debt anymore.
So go on asteve, nick, mark, traderboy. simon, oldftb and others, tell me what is happening here. Nothing good, that is for sure.