Currency Crises: Pan Pylas and Pound Sterling

currency crises: By Pan Pylas The Associated Press Thu., Oct. 20, 2016 LONDON—Throughout the 20th century, Britain endured a series of currency crises that exposed its decline as a major global power, according to The Toronto Star. The recent slide in the pound sterling has reawakened memories of those troubled times, including one in the mid-1970s when the country ended up needing an international bailout. But there is a limit to what she and her government will be willing to endure. And it has raised questions of whether another so-called sterling crisis might push the government to soften its plans to break away from the European Union and its single market. That scale of fall is equivalent to some of the great depreciations over recent decades, from 1949 through to 1992, that have caused upheavals in government policy and shaken the economy. The pound has fallen by nearly a quarter against the American dollar since the June 23 vote to leave the EU, from around $1.50 to a 31-year low below $1.20. (news.financializer.com). As reported in the news.