"We are not going to be able to make Downton Abbey or the X Factor, but we will produce good quality local programming, " she says.

BBC: Could US-style local TV work in the UK?

The caveats to our methodology notwithstanding, our study shows that there are big differences in the quality of education relative to spending among counties and is further proof that money is not the only--or perhaps even the most important--factor when it comes to the quality of education.

FORBES: Best And Worst School Districts For The Buck

The other factor likely to influence currency values in the coming months is the flight to quality or the search for a safe-haven currency.

ECONOMIST: Worth less than a euro | The