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Decline and Fall

Time Magazine

Re Postcard: as the pound loses its exalted position, why is the U.K. still refusing to join the euro [Feb. 9]? Could it be that the pound, and the monarchy it represents, are the only things left that uniquely identify the country — perhaps the most cosmopolitan in the world, with millions of people of diverse languages, cultures and philosophies all claiming British citizenship — as the Britain of the colonial era; and the past glory that era represents?

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