最后，这貌似是个好消息，但在不恰当的时机却非也。英镑开始对欧元失去了些许的竞争优势，因为欧洲的麻烦也应接不暇了。

Good news at last, it seems, and not before time: sterling is beginning to lose a bit of its competitive edge against the euro as Europe's troubles pile up.

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欧元在储备货币的斗争中将继续攻城拔寨–如果遭殃的不是美元，也应该是一些较弱的欧洲货币，比如英镑和瑞士法郎。

The euro may yet make further ground as a reserve currency-at the expense of the smaller European currencies, the pound and the Swiss franc, if not the dollar.

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英镑的长期冒险和欧洲也帮不上忙。

The long saga of sterling and Europe has also been unhelpful.

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