$1.48 to the £ today....this is getting ridiculous
Jan 15th 2012, 12:11 am
#92
Frequent Flyer Member
Joined: Jun 2007
Location: Melbourne
Posts: 10,994
Jan 15th 2012, 12:29 am
#93
BE Forum Addict
Joined: Dec 2008
Posts: 3,396
Re: $1.48 to the £ today....this is getting ridiculous
Possibly the beginning of something bigger.
Jan 15th 2012, 12:32 am
#94
Not allowed opinions.
Joined: Dec 2009
Location: Sydney
Posts: 4,565
Re: $1.48 to the £ today....this is getting ridiculous
There was the 300 Foxconn employees threatening mass suicide due to pay & conditions earlier this month. They seem to be starting to get more organized now compared to the individual suicides & suicide attempts previously reported many times.
Possibly the beginning of something bigger.
Possibly the beginning of something bigger.
Jan 15th 2012, 12:46 am
#97
Not allowed opinions.
Joined: Dec 2009
Location: Sydney
Posts: 4,565
Re: $1.48 to the £ today....this is getting ridiculous
For those who missed it, the news that France lost its AAA credit rating masked some very grave news:
The Greek debt restructuring talks collapsed on Friday. The talks were centered around the banks writing off 50% of the debt - masking the default by saying they agreed to it.
The problem is that some of the banks had insured the loans, meaning that the can get 100% back if they don't accept the 50% deal. Others didn't, so they are happy to get anything.
The debt restructure and write off will take about 6 weeks to work through, and Greece needs to borrow again on the 20th March to keep afloat. It needs E14.4 million on that day to pay its debts. It needs to borrow that amount.
This may alter a lot of exchange rates.
Edited to add: Japanese banks hold $432m of Greek debt; Spanish banks $530; US banks $1.5bn; Italian banks $2.35bn; UK banks $3.4bn; French banks $14.96bn; German banks $22.65bn; and Greek banks $62.8bn
The Greek debt restructuring talks collapsed on Friday. The talks were centered around the banks writing off 50% of the debt - masking the default by saying they agreed to it.
The problem is that some of the banks had insured the loans, meaning that the can get 100% back if they don't accept the 50% deal. Others didn't, so they are happy to get anything.
The debt restructure and write off will take about 6 weeks to work through, and Greece needs to borrow again on the 20th March to keep afloat. It needs E14.4 million on that day to pay its debts. It needs to borrow that amount.
This may alter a lot of exchange rates.
Edited to add: Japanese banks hold $432m of Greek debt; Spanish banks $530; US banks $1.5bn; Italian banks $2.35bn; UK banks $3.4bn; French banks $14.96bn; German banks $22.65bn; and Greek banks $62.8bn
Last edited by slapphead_otool; Jan 15th 2012 at 1:06 am. Reason: Added exposure data
Jan 15th 2012, 12:55 am
#98
Improving with age
Joined: Feb 2011
Location: perth
Posts: 19
Re: $1.48 to the £ today....this is getting ridiculous
We came here in 1983 ang got 1.6 to the pound, wasn't happy then as we had just about paid off our house in the UK but had to take out a substantial mortgage here.
Fast forward 29 fantastic years and 5 Australian grandchildren later, we never think about what exchange rate we got, but say thanks every day for the fortunate life we have had.
Just do it.
Fast forward 29 fantastic years and 5 Australian grandchildren later, we never think about what exchange rate we got, but say thanks every day for the fortunate life we have had.
Just do it.
Jan 15th 2012, 1:48 am
#99
Possum. Amiculum. Latrina
Joined: Jan 2011
Location: Footloose
Posts: 3,427
Re: $1.48 to the £ today....this is getting ridiculous
For those who missed it, the news that France lost its AAA credit rating masked some very grave news:
The Greek debt restructuring talks collapsed on Friday. The talks were centered around the banks writing off 50% of the debt - masking the default by saying they agreed to it.
The problem is that some of the banks had insured the loans, meaning that the can get 100% back if they don't accept the 50% deal. Others didn't, so they are happy to get anything.
The debt restructure and write off will take about 6 weeks to work through, and Greece needs to borrow again on the 20th March to keep afloat. It needs E14.4 million on that day to pay its debts. It needs to borrow that amount.
This may alter a lot of exchange rates.
Edited to add: Japanese banks hold $432m of Greek debt; Spanish banks $530; US banks $1.5bn; Italian banks $2.35bn; UK banks $3.4bn; French banks $14.96bn; German banks $22.65bn; and Greek banks $62.8bn
The Greek debt restructuring talks collapsed on Friday. The talks were centered around the banks writing off 50% of the debt - masking the default by saying they agreed to it.
The problem is that some of the banks had insured the loans, meaning that the can get 100% back if they don't accept the 50% deal. Others didn't, so they are happy to get anything.
The debt restructure and write off will take about 6 weeks to work through, and Greece needs to borrow again on the 20th March to keep afloat. It needs E14.4 million on that day to pay its debts. It needs to borrow that amount.
This may alter a lot of exchange rates.
Edited to add: Japanese banks hold $432m of Greek debt; Spanish banks $530; US banks $1.5bn; Italian banks $2.35bn; UK banks $3.4bn; French banks $14.96bn; German banks $22.65bn; and Greek banks $62.8bn
Last edited by Turban Explorer; Jan 15th 2012 at 1:51 am.
Jan 15th 2012, 1:52 am
#100
Daffyd Duck
Joined: Jul 2008
Location: Paradise
Posts: 5,636
Re: $1.48 to the £ today....this is getting ridiculous
We came here in 1983 ang got 1.6 to the pound, wasn't happy then as we had just about paid off our house in the UK but had to take out a substantial mortgage here.
Fast forward 29 fantastic years and 5 Australian grandchildren later, we never think about what exchange rate we got, but say thanks every day for the fortunate life we have had.
Just do it.
Fast forward 29 fantastic years and 5 Australian grandchildren later, we never think about what exchange rate we got, but say thanks every day for the fortunate life we have had.
Just do it.
Jan 15th 2012, 1:58 am
#101
Daffyd Duck
Joined: Jul 2008
Location: Paradise
Posts: 5,636
Re: $1.48 to the £ today....this is getting ridiculous
I think China might even buy euro debt more to protect a low yuan exchange rate. The money recycling continues.
Jan 15th 2012, 2:47 am
#102
Banned
Joined: Jan 2011
Location: The REAL Utopia.
Posts: 9,910
Re: $1.48 to the £ today....this is getting ridiculous
Being a glass half full type of bloke I dare say when Greece inevitably defaults it will barely register on the Richter scale and the sky wont in fact fall 
Jan 15th 2012, 4:05 am
#103
Daffyd Duck
Joined: Jul 2008
Location: Paradise
Posts: 5,636
Re: $1.48 to the £ today....this is getting ridiculous
Societe Generale would have already priced this in.
Jan 15th 2012, 5:05 am
#104
Crazy Cat Lady
Joined: Apr 2004
Posts: 65,493
Re: $1.48 to the £ today....this is getting ridiculous
Can I just apologise to the OP for the complete and utter disregard to his posts by near enough everyone on this thread.
Jan 15th 2012, 5:12 am
#105
Possum. Amiculum. Latrina
Joined: Jan 2011
Location: Footloose
Posts: 3,427