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Re: Exchange rate
Originally Posted by PubChampion
(Post 8667164)
When that happens, the escudo will drop against all major currencies and stay low, at least for a while. That would be a good time for buying it with your pounds.
It should also be a good move for Portugal. I can't see how they can generate any growth remaining in the Euro. |
Re: Exchange rate
So if there is a house up for sale at the moment for say €250k, what do you envisage would happen if PT went back to escudos and it's still for sale? No one can know what the rate of exchange from euros to escudos would be.
My thoughts are I shouldn't buy anything in euros but then how long would one wait to see what happens?? Is there going to be a huge house price crash first like some predict, if the euro goes to 1.50 to the pound wouldn't it still work out as a good rate of exchange...I just don't know what's best. :confused: G |
Re: Exchange rate
The rate will drop again eventually , once the realisation that the tories and libdems are ruining the uk.But the question is really just how able to service debts are the euro partners.
The are 2.5 million unemployed in the uk , they want to remove another half million from civil service and put the incapacity benefit claimants out to work on top of that number , the joke is theres only 500000 jobs in the uk , and a considerable percentage of that is part time , and it looks like even that number will lessen. So to recap the maths 5 million people looking for work , and 1 job for every 10 unemployed....just how can the pound remain strong against the euro and lets not forget quantive easing which devalued the pound. But hey could be worse , could be greece , or heaven forbid france.....just how will france fair giving its history against its strikes , govt layoffs , and pensions being frozen? |
Re: Exchange rate
Originally Posted by Troia
(Post 8667270)
The chances of Portugal returning to escudos are about the same as Elvis landing now in my back yard driving a flying saucer...
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Re: Exchange rate
Originally Posted by masterbaits
(Post 8668451)
just how can the pound remain strong against the euro and lets not forget quantive easing which devalued the pound.
Europe is another matter. Since 2003, the average growth has been 1%. With this sort of "growth" and a public debt of 80% of GDP (and growing), Europe needs new austerity measures every year, just to keep the same debt-to-GDP ratio. |
Re: Exchange rate
Originally Posted by Supremegermalene
(Post 8667976)
So if there is a house up for sale at the moment for say €250k, what do you envisage would happen if PT went back to escudos and it's still for sale? No one can know what the rate of exchange from euros to escudos would be.
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Re: Exchange rate
Originally Posted by PubChampion
(Post 8669665)
Most likely, they'll start from 1 escudo = €1. A €250k house would then cost 250k escudos. The escudo would then drop to, say, €0.50, but the house would still cost 250k escudos and you should be able to buy it for €125k.
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Re: Exchange rate
Originally Posted by Luso
(Post 8671544)
Presumably this is after the UK becomes a Peoples Republic and adopts the Yuan?
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Re: Exchange rate
Originally Posted by DublinLassie
(Post 8671594)
Austerity plans of one ilk or another will have to bring the needed remedies
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Re: Exchange rate
For me the euro was just a way of germany , france and spain to keep its power in europe vs the cheaper eu countries for holidays , farming and manufacturing.
By linking them under one fiscal structure and plans it meant that the cheaper countries had to compete on a lesser playing peg , they could not force eu taxes on imports from within the eu so this was the only way.They had to have the same tax levels and could not devalue the currency. |
Re: Exchange rate
Originally Posted by PubChampion
(Post 8672182)
You didn't get the point. One-off austerity measures can be swallowed and are not a problem. New austerity measures every year is another matter, and that's what Europe is currently facing. That's what will kill the euro.
While many Portuguese friends of mine, in common with Irish friends, rue the day we joined the euro, none wish to take the risk of returning to a standalone currency. That's my experience. |
Re: Exchange rate
Originally Posted by masterbaits
(Post 8616578)
I think its the money men playing silly buggers , you knwo those that sell off in may to buy back in after their jollies , I reckon they are using every trick in the book to drive it down.... epecially after adding hungary to the mix.
Well if these guys are right we will see 1.30 before we see a downturn.Which is a pity for me as I changed lots over the last 6 months thinking it was the quid in retraction and not the euro... but hey I averaged about 1.12 abd i remember all too easilly the parity that lost me a few projects. But there is still a downside to this , every day costs go up as the euro goes down , petrol , utils , taxes and food all increase in price , so its swings and roundabouts. Now we hear that china , the manufacturer of the worlds goods , well they are now getting intolerant at their measley wages and bad conditions.... and its those cheap goods that have artificially propped up the west standard of living index.Some of the marque cars are being made in china , or soon to be , including jaguar which you would have thought considering its indian now would have been cheaper to make there. Still its always doom and gloom in the markets , sometimes its just better to have ostrich brains and enjoy all that bliss. Regards Sam:D |
Re: Exchange rate
Originally Posted by DublinLassie
(Post 8672339)
While many Portuguese friends of mine, in common with Irish friends, rue the day we joined the euro, none wish to take the risk of returning to a standalone currency.
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Re: Exchange rate
Originally Posted by kyles Mummy
(Post 8676394)
you might as well sick you head in the sand because there's nothing you can do about it except tighten your belt and cut your expenditure until the world rides out of this crises, It's bad for all expats at the moment just be thankful that you are not in the UK paying council tax vat 20% TV licence petrol 1.30 per litre:thumbsup: It's a struggle living abroad at the moment but I glad I'm not back in the UK right now!!!!!!!!!!!!!!!!
Regards Sam:D It is swings and roundabouts in most cases and also a lot depends on where you live (both in UK and Portugal) Joao:D |
Re: Exchange rate
Originally Posted by Joao
(Post 8678902)
I think you will find that IVA is 20% in Portugal and the last time I was there fuel was more expensive than in UK (however that might have changed recently). Yes council tax is more expensive than UK and so is the TV licence. In some circumstances car tax is less expensive in UK than Portugal and I think you will find that car insurance is less expensive in Uk as you can shop around more (of course you pay for what you get - if you get anything back at all!!)
It is swings and roundabouts in most cases and also a lot depends on where you live (both in UK and Portugal) Joao:D ================================================== ======== Your dead right Joao, My CT in the UK is about twice what it is here taking water and sanitation into consideration. However there are many advantages of living in the UK. Cheap shopping. When was the last time you saw a real sale here? Supermercados have the prices fixed right across the board, only a few cents difference on many items. The only things cheap down here at the moment are cheap plonk and rail travel. Last winter jan thru feb I was in the UK. Drank at my local J.D.Weatherspoons pub at GBP1.29 a pint not like here €3+ a litre The doors were closed, no draughts and nice heating and the customers were catered for. Their sunday roast is cheaper than the stuff they sell around here. These days I have my bus pass allowing me to travel around the country for free. Here EVA hits you for €1.40 for travelling 6kms. On the + side here we have good weather from mid April until about November but the winter is long and chilly. regards |
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