One of the mysteries of the English language finally explained.
The exchange rate for the pound applied to payments for agricultural produce in the EU.
- ‘If anyone still cares, or indeed cared then beyond the farmers it affected, the green pound was the exchange rate at which European Union farm subsidies set in Brussels were converted to sterling.’
- ‘It's a major factor, through its impact on the green pound, in the crisis gripping our farming industry.’
- ‘Between July 1992 and July 1994 the green pound increased in value by a quarter, strengthening the floor under market prices and increasing the effective value of compensation aids from Brussels.’
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