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@mespilus
Devaluation for cost advantage.
I joined a German firm in 1983. That Summer £ briefly was worth 4 Deutsch Marks.
The Pound/£ gradually lost value.
September 1992 Norman Lamont, Chancellor for John Major lost a bet against the markets that Sterling was worth 2.77DM
https://en.wikipedia.org/wiki/Black_Wednesday
Anyone think the UK economy outperformed the German in those 9 years?