Monday, 22 December 2008

Sterling is sterling

Rather unfortunate article this one. You can see what they are trying to do - to note that in local currency UK aid now buys less real goods and services, or perhaps more relevantly, in most international currencies (as aid clearly goes to buying foreign goods, otherwise it's a bit pointless). But for some reason they decided the reader wouldn't understand it unless it was converted back into sterling, so we have the nonsensical suggestion that a fall in sterling means a sterling amount is equal to less in sterling.

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