Britain is in a series of financial straightjackets:- The...

Britain is in a series of financial straightjackets:
- The CONDEMS are implementing a multi-year austerity program that will incrementally diminsh the size of the economy. People don't quite realise what this will mean to them personally but are concerned
- Retailers are closing up shop(s) at an increasing rate
- House prices falling except in Central London
- Big series of strikes by public sector workers to begin tomorrow

All of this makes the pound vulnerable, even against the Euro. Where Greece has friends who are helping them through their current crisis, Britain is pretty much on its own. (Mind you they are not through the worst of this yet either).

Relative to Europe, Australia looks like it is in good shape. I expect the AUD to rise against both the GBP and Euro over the net few years
K