ref date:27 Oct 1997 (ECON)
Scotlands economy suffers as pound strengthens
Scotlands export outlook appears gloomy with the news that orders in the past four months have dropped at the fastest rate since 1978, as the strong pound continues to undermine competitiveness. The latest small and medium enterprises survey has revealed an accelerating decline in overseas business.
This is what a strong currency really means. No one wants a weak currency, but
EMU and a single strong European currency would help smooth out some
of these export blues.