WATCHING THE WORLD BUSINESS AS USUAL AS STERLING CRUMBLES

With David Knott from London Politics is not the only business in which a week can be a long time. The recent nosedives taken by most currencies linked to the European Commission's exchange rate mechanism (ERM) have made life too hectic for European companies in all sectors. The ERM was set up to prevent currencies among EC member nations from changing too much with respect to one another. Ironically, the members' requirement to keep their currency's exchange rate within strict

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