[pmontra]

I sincerely hope that it will work like that for you. There is a long history of currency devaluations. It can help in the short run but the reasons a country was worse off than the others don't go away. Your hypothesis is that the cause is an artificially inflated pound. Some Euro countries have an artificially inflated currency, or Germany and others an artificially deflated one. Those weaker countries are paying for it with higher interest rates on their bonds. We could argue forever if they are masochistic or strong armed into the Euro or if this is really in their best interest. In the case of the UK, what I see from outside is that many people wanted to buy into the UK. See the trajectory of the prices of the houses in London or the number of startups. That naturally inflates a currency. Now the UK is less attractive and the pound lost value. I think that pre Brexit and post Brexit levels of the pound did reflect the actual value of the country in those two moments in time. Don't you?