3 ms·
I think the timing of this release is highly suspect and the real reason is a lot simpler. The magnanimously negative impact of Brexit on the kingdom coupled w
by nimbius 4y ago
I think the timing of this release is highly suspect and the real reason is a lot simpler.
The magnanimously negative impact of Brexit on the kingdom coupled with recent outlandishly irresponsible neoliberal monetary policy have put the UK in a precarious situation where member nations are unironically reconsidering membership. Scotland last november gave it serious consideration, and in 2021 Wales seemed poised to give it a go as well. the alternative these states are electing is the EU and if such a choice were to be made it would surely spell disaster for England.
Brexit has also created an unnecessary burden on corporations with a euro presence in that all must now be renegotiated at significant expense. The easiest path is to simply tell this relatively small kingdom of 67 million to trade only in euros, and this in turn would further devalue the pound sterling.
the "Digital Sterling" serves a twofold purpose: to distract from the slow rolling catastrophe of Brexit and other hardline neoliberal policies by offering something that appears to be progress, and as a desperate effort to court business and commerce back to the kingdom.
https://en.wikipedia.org/wiki/Brexit#Impact https://en.wikipedia.org/wiki/Brexit#Impact
- raylad 4y agomagnanimously is probably not the word you intended: magnanimous (adjective) 1. Highly moral, especially in showing kindness or forgiveness, as in overlooking insults or not seeking revenge. 2. Great of mind, elevated in soul or in sentiment, raised above what is low, mean, or ungenerous of lofty and courageous spirit. 3. Dictated by or exhibiting nobleness of soul; honorable; noble; not selfish. (The American Heritage® Dictionary of the English Language, 5th Edition.)
- withinboredom 4y agoI doubt there is a different definition there, but perhaps checking a British Dictionary about a British event would be a good idea. Also, I think they were using it sarcastically.