The British are rightly proud of their currency. So proud, in fact, that while the UK is one of the linchpins of the European Union, it has steadfastly refused to become a member of the so-called “Eurozone” – the group of countries that use the euro. Some recent entrants to the EU, like Hungary, have adopted the euro in fits and starts. In Hungary, the old national currency, the forint, still circulates side-by-side the euro. Even countries as remote and poor as Romania and Bulgaria may soon adopt the euro.
Great Britain, however, remains the great outlier in so many things. The British drive on the left with steering wheels on the right, have an unwritten constitution, think Kylie Minogue is entertaining, and hold resolutely to the venerable old pound, or as people in posh financial circles like to call it, “sterling”. Continue Reading…