Sterling Work To Do

Obama rightly wants to sort out the use of the Cayman Islands as a haven for American tax-dodging.

Well, the Cayman Islands are a British Overseas Territory. We should hang our heads in shame. But we should also act.

Specifically, we should restore the pound sterling, rather than the American dollar, as the currency there.

That would not solve the problem. But it would be a very good start.

And it would not be good for that reason alone.