Thursday, 18 December 2008

The Sterling/Euro exchange rate

Sterling continues its collapse against the Euro and the BBC hardly comment upon the news. Is this because even they could not explain how a well run UK economy somehow is perceived as a worse prospect than the Euro-zone. Obviously this contrasts with the "Sterling Crisis" that would have been the banner headlines had this been happening under a Conservative government. Instead we get inane pieces telling us that a falling Pound is good for exporters and shops selling to tourists and not a mention of items being priced in dollars or the massive increase in the cost of foreign holidays.

The BBC and especially Nick Robinson have become more and more the propaganda arm of the Labour government. Their main aim seems to be to please Gordon Brown and Peter Mandelson on every story; Nick Robinson in particular seems to be little more than a conduit for Peter Mandelson's views - see his recent "blog" piece on the Post Office part-privatisation for a fine example.

1 comment:

Anonymous said...

This morning the Toady Programme stated sterling had dropped 23% and Johnno exclaimed "that is a lot"
So when does the rot stop?
They predict later next year, and they are wrong as their current tinkering with vat, banks, bank rates, and other miniscule rollouts will do nothing.
It will be 2011 until we see the light at the end of the tunnel, but only IF this incompetent govt spends money prudently - and their past record does not support this.