Quite simple, this country had a ready made decimal note, i.e. the ten shilling note. Had they based the new currency on that, inflation would have been virtually nil.
The slavish devotion to the pound, we are not the only country to have a currency with this name, Turkey and Italy both have Lira which is the same thing. I believe that France once had a Livre too, cost this country dearly. By that I mean you and I, who are the people who end up paying for the governments mistakes every time.
I mean, it's not like it's their money they're spending is it? It's our taxes, and our opinion only matters when there's an election in the offing, because they want us to put an X next to their name on the ballot paper. Can't have them losing their reservation on the gravy train can we?


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