extendor Posted December 23, 2008 Share Posted December 23, 2008 WTF - went to post office this lunchtime and bought a 100E for a pressy for someone and the bureau charged £99.14 Do our resident economists have any idea if this is going to improve/worsen please. Quote Link to comment Share on other sites More sharing options...
caseys Posted December 23, 2008 Share Posted December 23, 2008 2010 onwards. Maybe 2011. Same with the Yen and the Dollar. Things don't move quickly in international money markets. At least not the upward trends. As interest rates are in the toilet here more than the Eurozone we're not going to climb against it for a loooonng time. The nay-sayers are hoping for 1:1 and then we move over to the Euro, but can't really see that happening. Could've got 100 euros for £98.04, best rate I saw today was 1:1.0204 Quote Link to comment Share on other sites More sharing options...
JustGav Posted December 23, 2008 Share Posted December 23, 2008 The nay-sayers are hoping for 1:1 and then we move over to the Euro, but can't really see that happening. Makes sense though, we can't risk the pound becoming worse than the euro, so it would make sense to join it....... (Writing on the wall....) Quote Link to comment Share on other sites More sharing options...
tooquicktostop Posted December 23, 2008 Share Posted December 23, 2008 The combined power of the Euro economy against the shrinking UK economy was as I predicted some weeks ago always going to see the one pound buy one Euro, the worrying thing is it may get much worse My annual golf trip to Spain is going to be very expensive this year Quote Link to comment Share on other sites More sharing options...
extendor Posted December 23, 2008 Author Share Posted December 23, 2008 I wonder if we will drop below parity. I can see how it would help exporters but seeing as manufacturing only accounts for about 18% of GDP these days then that is not going to help many. Could we join the Euro before we drop below parity or should we all go out an buy Euros. Quote Link to comment Share on other sites More sharing options...
Gazboy Posted December 23, 2008 Share Posted December 23, 2008 All depends what Drowning decide to do. At present they shortpick three options then go with the worst one. Europe, USA and Japan may pull out of this by autumn 2010. Quote Link to comment Share on other sites More sharing options...
SteveR Posted December 23, 2008 Share Posted December 23, 2008 2010 onwards. Maybe 2011. Same with the Yen and the Dollar. Things don't move quickly in international money markets. At least not the upward trends. eh? If you were holding Euros, Dollars or Yen, you'd have seen a very fast moving positive movement of your currency against the GBP. A downward (or upward) shift of one currency against another is the reciprocal of what's happening from the opposite point of view. As Gazboy says, whether the pound recovers or not, and to what degree, will dependon how much more money we chuck at the symptoms of our crisis (money we'll probably end up printing into existence - watch for tax breaks/incentives and the government giving money to everyone in the new year - which devalues the pound even more ). So far, the decision makers keep choosing the worst option for the UK as a whole and are putting a shorter-term, albeit painful recovery aside and instead trying to keep voters on their side so they stay in at the next general election, by pretending all is well and pushing us towards a much longer, drawn-out and ultimately more painful experience that won't see genuine recovery for perhaps as long as a decade. Quote Link to comment Share on other sites More sharing options...
caseys Posted December 23, 2008 Share Posted December 23, 2008 eh? If you were holding Euros, Dollars or Yen, you'd have seen a very fast moving positive movement of your currency against the GBP. A downward (or upward) shift of one currency against another is the reciprocal of what's happening from the opposite point of view. That's what I meant. The people holding foreign currencies have been alright. Us against the $ or Yen have had a poor deal. The 'upward' trends that holders of foreign currencies have had is not because of an upturn in fortune in their local markets but rather a detrimental affect of foreign markets. Quote Link to comment Share on other sites More sharing options...
Gazboy Posted December 23, 2008 Share Posted December 23, 2008 I'm seriously considering a Euro savings account. Quote Link to comment Share on other sites More sharing options...
jevansio Posted December 23, 2008 Share Posted December 23, 2008 Is it not true that Europe is in much worse sh*t than we are and it won't be long before things swing the other way??? Quote Link to comment Share on other sites More sharing options...
and1c Posted December 23, 2008 Share Posted December 23, 2008 I wonder if we will drop below parity. I can see how it would help exporters but seeing as manufacturing only accounts for about 18% of GDP these days then that is not going to help many. Could we join the Euro before we drop below parity or should we all go out an buy Euros. I think us joining the Euro would just bring the Euro down!!! IMO the reason for the pounds devaluation is a direct result of the state of our economy and joining the Euro as a 'quick fix' would not be a good move at this time. not sure if the Euro would have us at the moment as well!! Quote Link to comment Share on other sites More sharing options...
Gazboy Posted December 23, 2008 Share Posted December 23, 2008 Is it not true that Europe is in much worse sh*t than we are and it won't be long before things swing the other way??? Germany, France and Spain are about as deep in the shit as we are. Germany can't pick up until other countries start buying again so in a way they are dependent on our financial systems to get back on their feet. Quote Link to comment Share on other sites More sharing options...
Nicolai Posted December 23, 2008 Share Posted December 23, 2008 All i can say is Quote Link to comment Share on other sites More sharing options...
flyby Posted December 23, 2008 Share Posted December 23, 2008 in denmark every politician triyng to scare us to wote Yes to EURO. But we turned it down. After some years now, our currency is strong and nothing bad has happend be cores we turn down the euro. In the contryies where thay got the euro everything is gone more expensive. All companeys used the opportunity rice the priced. Quote Link to comment Share on other sites More sharing options...
Gazboy Posted December 23, 2008 Share Posted December 23, 2008 Don't you have even crazier taxes than us though in Denmark? Surely it's a poloticians nightmare to be shown as taxing their people more than the country next door? Quote Link to comment Share on other sites More sharing options...
carl0s Posted December 24, 2008 Share Posted December 24, 2008 I'm off to Spain in a few hours Was about 1.44 last time I went. Quote Link to comment Share on other sites More sharing options...
Gaz6002 Posted December 24, 2008 Share Posted December 24, 2008 What with the invention of the sunbed and the novelty swimming pool, fuck going abroad. Or maybe not. Quote Link to comment Share on other sites More sharing options...
flyby Posted December 24, 2008 Share Posted December 24, 2008 Don't you have even crazier taxes than us though in Denmark? Surely it's a poloticians nightmare to be shown as taxing their people more than the country next door? Well out tax is 25% and on cars it is 180%. Yes it is crazy but nothing new about that, it has bean like that forever now. And it is not be cores of the EUROs. The excuse from our government is, that we have a good and free helthcare system. But really it works like shit. Quote Link to comment Share on other sites More sharing options...
CJ Posted December 24, 2008 Share Posted December 24, 2008 I lent a "mate" 100 euro a few months back and he has just gone back to the UK and said he would pay me once he got there by transferring sterling to my account. He just paid in 85.00 - methinks he is taking the piss eh? Quote Link to comment Share on other sites More sharing options...
couv3z Posted December 24, 2008 Share Posted December 24, 2008 proberly worked it back on the rate he borrew it at Quote Link to comment Share on other sites More sharing options...
CJ Posted December 24, 2008 Share Posted December 24, 2008 I am thinking he should have gone to the bank asked them how many pounds they would give him for 100 euro there and then and put that in. I'm thinking 85.00 is very light! Quote Link to comment Share on other sites More sharing options...
extendor Posted December 24, 2008 Author Share Posted December 24, 2008 proberly worked it back on the rate he borrew it at agreed, what did it actually cost you at the time Quote Link to comment Share on other sites More sharing options...
CJ Posted December 24, 2008 Share Posted December 24, 2008 agreed, what did it actually cost you at the time Erm...100 euro! I live out here on Kos so get paid in euros. Quote Link to comment Share on other sites More sharing options...
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