The continued depreciation of the £ has caused significant debate over the costs and benefits of a falling currency. Initially there was a strong belief that this could be the answer to the stagnating growth with calls for an "export led" recovery (exports become cheaper therefore more exports are demanded), however, as the pound has continued to fall others have expresses concerns about inflation (imports are more expensive) therefore leading to upward pressure on interest rates which diminishes the likelihood of a recovery. Either way more people will be staying in the UK this summer and London can look forward to becoming a tourist Mecca for the Europeans.http://www.torfx.com/blog/index.php/exchange-rate-news-the-pound-declined-against-the-euro-falling-back-towards-1-1470/10213
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