02 September 2015

Daft economics

CityAM reports:
English football giants spent £483m on players from euro area clubs during the latest transfer window, a figure that would have been far higher if the pound had not climbed up to 17 per cent against the euro since 2014. 
With transactions typically taking place in the currency of the selling club, buying the same batch of players in last year’s summer transfer window would have cost £568m. It marks a saving to top English clubs of £85m, according to analysis from forex broker Foenix Partners.
But if you look at it through the other end of the telescope, if sterling had not been so undervalued in 2014, the English clubs would not have had to overpay by so much in that year ...


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