Not quite.

It’s more more a question of the least worst option when it comes to Sterling v Euro. Never mind the fact the French and Germans are getting indigestion as it is without having to ride to our rescue.

City Wire: Speaking at the annual Economist City Lecture, Soros said the lack of concessions offered in a rescue package for Greece agreed this week had highlighted the lack of effective policy making in the euro area.

‘Whoever wins the election will have many more tools at their disposal,’ he said of the UK. ‘The solution offered to Greece is at best an interim step.

‘It is a question of solvency. If you start charging very high rates as the market does in anticipation of solvency then that pushes you into insolvency.’

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Basically Sterling is pretty screwed, just not as screwed as the Euro.