In a recent survey, one thousand Americans were asked, "What currency do they use in the United Kingdom?"
62% knew that we use pounds sterling, but 38% got the answer wrong. 18% thought that we use the Euro, and 4.1% admitted that they simply didn’t know."
A small number of respondents thought we still use the shilling, and some even thought we use tea, bananas or fish & chips as currency.
In reality, we are so proud of the pound that we are unwilling to accept any substitute. When it came to the Maastricht Treaty, we negotiated an opt-out from adopting the Euro as our common currency.
Polls have demonstrated such a strong connection to the pound that the coalition government has promised that they will not join the euro during the lifetime of the parliament.
Recently, the pound rose against both the Euro and the US dollar following the announcement that the UK unemployment rate has dropped.
But does the pound have the identity we think it does?
The US dollar is the world’s most iconic currency, the Euro is the European standard, and we assumed that the pound was a British signifier. But this survey, carried out by Champion Accountants, suggests the pound might not be as renowned as we thought.