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That's a bit of a shock, just eleven years ago you could get €44.8m for £30m but in the space of about 11 years you'd only get €41m for £35m and it's remained at the that rate since. The media is always so quick to label people as flops, perhaps they should start describing the pound as a flop.
2002 - £1 = €1.49
2013 - £1 = €1.17
So as I've said, this post isn't really about football, it's about how much the pound has flopped over the last decade. As an easy comparison, if Gareth Bale's transfer to Real Madrid had gone through at the same exchange rate as when Rio Ferdinand left Leeds then instead of £85m he would 'only' be £67m. That is a difference of £18m (21%). Of course the likes of Tottenham are not going to complain, neither are the businesses here that do most of their trade via the Euro. But what about the rest of us? The pound in our pockets is worth considerably less than many people realise.
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