Dire Prognostications!
#16
Re: Dire Prognostications!
GBP may be rubbish but this devaluing makes British labour much more competitive. This is vastly preferable to the PIIGS problem where they can’t set their own interest rates or turn on the money taps.
It would have been an interesting experiment in the past to say “Let’s tie these very different economies (with only a small trade overlap) to the same interest rate and see what happens”, alas it’s one of those experiments where the results where as you might have predicted.
It would have been an interesting experiment in the past to say “Let’s tie these very different economies (with only a small trade overlap) to the same interest rate and see what happens”, alas it’s one of those experiments where the results where as you might have predicted.
#18
Forum Regular
Joined: Nov 2009
Location: on the way
Posts: 69
Re: Dire Prognostications!
Just for you to feel better, it is not only pound.
#19
BE Enthusiast
Joined: Sep 2009
Location: thatcham berkshire england
Posts: 432
Re: Dire Prognostications!
well i saw a report on BBC news, two nights ago, where money men were talking about, greece and that the euro will be coming down and any one with money in euros sell because the sterling in going back up, so only time will tell
#20
Re: Dire Prognostications!
Well if it's any consolation for other people I just moved quite a bit of money from the UK to NZ so the rate is bound to improve over the next couple of weeks
#23
Re: Dire Prognostications!
Thats what I thought. The euro is sooooooooooooooooooooo knackered. From 1.05 just a few weeks ago (almost 'parity territory') to today and just off 1.18. The euro will be dumped and other currencies along with the GBP will be bought and the GBP will increase in value if only because of europe's currency is in tatters just now.
#24
Re: Dire Prognostications!
The euro will be dumped and other currencies along with the GBP will be bought and the GBP will increase in value if only because of europe's currency is in tatters just now.
...down the gurglar
#25
Re: Dire Prognostications!
Yeah that would be right. But let's go with a mantra along the lines of 'the pound is strong..the pound will rise.....blah blah blah'. We all know which way it will go if only because I have a few quid in the UK.
#26
Re: Dire Prognostications!
Oh dear. Much to the delight of Pestman that is where it appears to be going. Its heading for 2.06 with a spring in its step. Bollocks.
#28
Re: Dire Prognostications!
It was called the ERM, Exchange Rate Mechanism. Black Wednesday was the result for us. Norman Lamont presided.
#29
Forum Regular
Joined: Nov 2009
Location: on the way
Posts: 69
Re: Dire Prognostications!
Obviously euro is in free fall stage. And place still unsold I can just wonder what we will be able to transfer to NZD. Rate is at 1.73.
#30
Forum Regular
Thread Starter
Joined: Sep 2006
Posts: 231
Re: Dire Prognostications!
Personally, I wouldn't write the euro off just yet. The eurozone economies certainly face challanges, but they are also one ofthe largest trading blocks on the planet. I doubt very much the stronger economies of Scandinavia, Germany France etc will allow it to fall too far (hence the Greek bail out).
Britian on the other hand, is all alone. Lets just hope that whichever team of monkey's get the keys to 10 Downing Street, some measure of confidence is returned to Sterling and the pound will stop with these historic lows against the Kiwi. It feels like we can't move forward with our plans until things improve. Very frustrating.
Britian on the other hand, is all alone. Lets just hope that whichever team of monkey's get the keys to 10 Downing Street, some measure of confidence is returned to Sterling and the pound will stop with these historic lows against the Kiwi. It feels like we can't move forward with our plans until things improve. Very frustrating.