Within the contient, yesterday’s market turmoil has been blamed on the Euro countries’ inability to come together on a currency strategy over the weekend. Germany and Austria, for example, began discussion national deposit guarantees they day after a conference working towards a currency-focused co-ordinated decision. This led to blind panic in the markets, and by consequence the Sterling is up against the Euro again.

Quite good for us Islanders on two counts – going on short holidays abroad is looking a little more optimistic, and, for now, we can sit back smugly at our decision not to enter into the Euro.

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