*  *  *  In Les Carlyon’s Gallipoli, a conversation is recounted in which a Turkish soldier is said to have asked some New Zealand prisoners why it was that they had come so far, voluntarily, to fight a war in Europe. They apparently replied that they had expected it to be rather like playing a game of rugby.
While incumbent foreign holders of Sterling assets have suffered a valuation loss, the decline in Sterling may entice new foreign investors attracted by the decline in the relative price of UK assets.