Thanks for the information that the BBC itself avoids currency risk by operating in the currency futures market, and for the reminder about the BBC’s use of European money.

One of the interesting features of sterling since the launch of the Euro is that it is has been more stable than either the dollar or the Euro, reflecting the mid Atlantic positioning of the UK economy subject to dollar pulls and Euro pulls given our pattern of trade and transactions.

The BBC still struggles to accept that the Uk is a Eurosceptic country, with 80% against the Euro and further EU political integration, and an emerging majority wanting to take powers back. The dreadful performance of the EU in agriculture and fishing, where it has very strong powers, have warned people off the idea that it should have more power in other fields.

The BBC now accepts that some people want to leave the EU altogether, and has to allow them some air time.

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