According to reports this week, Kandahar will breach its loan covenants when it revalues its portfolio next month, and is renegotiating a £247m loan with the Bank of Scotland arm of Lloyds Banking Group.
This development follows an agreement this month, which Democratic Sen. Charles Schumer Charles Schumer and Republican Sen. Lindsay Graham Lindsay Graham secured from Senate leaders for a floor vote, on a bill that threatens more tariffs against China, unless it revalues its currency.
Since it was revalued by 2.1% in July, the yuan has crept up by a mere 1% against the dollar.
But it began revaluing its currency upward in 2005, the last time the Senate brandished a big stick.
Even China's costs will gradually start to rise in the relatively near future, and could do so quite sharply if inflationary and international pressures force it to revalue its currency.
Murray has issued a 13-point "manifesto" including pledges to "have a war with Germany if they are up for it" and "revalue the pound at £1.10 – so it will now be worth 10p more".
The restart would lower the city's contributions because it would revalue the pension assets after taking into consideration unusually high investment profits in the last three years.
