UK put on credit warning

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Feb 16th 2012, 4:58 pm

#16

Victor Meldrew

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Re: UK put on credit warning

Quote:

Originally Posted by The Dean

Weak currencies are cheap to buy. When the GBP/AED is, say, 5.75, it's a better time to send money to the UK than when the rate is, say, 6.50. The rate is calculated by multiplying the GBP/USD by the (pegged) USD/AED.

Just looked back at it and now I have had another coffee and got my brain in gear I see it.

Thanks

Feb 16th 2012, 7:56 pm

#17

james1966

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Re: UK put on credit warning

I think that Greece and Portugal will default and leave the Eurozone, Spain and Italy will be ok.
The euro will be stronger without these countries, and Greece/Portugal will do better out of the Euro.

Eurozone was a flawed idea from the start, due to countries being at different positions in their financial cycles. This has now come home to roost, the polititians were aware of this, but choose to ignore it.