While Palestinians will see no changes on the ground with immediate effect, the symbolism is all-important.

BBC: Palestinians celebrate historic day

One has to go no further than Britain to see why: look at the difference in economic effect between the devaluations of 1967 and 1992.

ECONOMIST: Letters

It can add warnings, but these don't always have a big effect on a drug's use (see: " Fix No. 5: Forget Labels") and can get bogged down in negotiation.

FORBES: FDA Fix No. 2: Power Up The FDA

"When people see the economics could be very problematic, in effect, if there's no big structural long-term release of domestic demand, all this really amounts to is a big devaluation, " he said.

NPR: Japan Gyrations Underline Economy's Vulnerability