Highest exchange rate for 3 years
 

According to xignite the rate is 1.2518 euros to £1.

Good news for some :thumbup: and bad for others. :thumbdown:

Glad I changes my euro savings when I did. :thumbsup:

Re: Highest exchange rate for 3 years
 

It seems as though Germany has had to yield from Italian and Spanish pressure, and the Eurozone will now directly help out struggling banks without adding to government debt.
http://www.bbc.co.uk/news/world-europe-18620965
Stock markets sharply up this morning. Bond yields substantially down for Italy and Spain.
Rate now 1.24 euros for a pound. Better than a year ago I suppose, but it may now stabilise around this figure.

Re: Highest exchange rate for 3 years
 

In return for which Merkel has had her wish for more centralised power and control granted. Another backward step down the slippery slope. :thumbdown:

Re: Highest exchange rate for 3 years
 

liked this comment on Twitter

Queen_Europe Angela Merkel (not) A decisive solution: using a fund that doesn't exist to buy debt that won't be repaid via a mechanism that hasn't been agreed. #leadership

And this one in the Telegraph from someone at Forex

EFSF/ESM rescue funds only have The €500bn of available capital, yet the total liabilities on Spain’s and Italy’s balance sheets’ top €2.4 trillion... This could curb the market’s enthusiasm as we haven’t heard any signs that these bailout funds will be topped up.

Europhobia may last until after the summer break:unsure:

Re: Highest exchange rate for 3 years
 

Cameron's 1.3Bn will be a drop in the ocean.

Re: Highest exchange rate for 3 years
 

Yes, but that was what they wanted: To say something (even if rather empty of substance) that would NOT send the markets into a tailspin, which many were predicting.

Looks like they achieved what they wanted - for now - until of course, the analysts publish their reports....

Re: Highest exchange rate for 3 years
 

S'alright, he'll give them some more whilst saying he won't:sneaky:

Re: Highest exchange rate for 3 years
 

I've come to the conclusion that I'm pro-European because it allows me to live in Spain, it would be perverse if it was otherwise.

Common sense also tells me that it would be safer to belong to a powerful currency union if anything went wrong, rather than to sit on the outside where little help is available from elsewhere.

At the moment we are able to borrow at good rates every couple of months to pay our bills; God knows what the rating agencies are going to make of the latest bank scandals - if they raise our levels to those of Spain or Italy, who do we turn to?

Re: Highest exchange rate for 3 years
 

Once again,total bullocks.

For one simple example just stop for one second and ask yourself who needs whom the most ?

Re: Highest exchange rate for 3 years
 

Answer it yourself, Dick, it's easy.

Do we need the Eurozone more than it needs us?

To elaborate, they're doing nicely without us - yet without them, we'd be totally ****ed, that's why Cameron is in Brussels, as a worried spectator.

Re: Highest exchange rate for 3 years
 

I was referring to Spain in particular. They'll still be more than happy to make us all welcome long after the sad euro zone misadventure is history.

Re: Highest exchange rate for 3 years
 

Spain on its own? That would be different. They make most of us welcome because we contribute to their economy; but it's more than that, they're generally more welcoming people anyway.

I'm always amazed by the figures that show there are more Rumanians in Spain than Brits, and there are quite a few of us.

Re: Highest exchange rate for 3 years
 

Posts 8 to 12

Who are we, they, us?:confused:

Re: Highest exchange rate for 3 years
 

Eh, would have thought it was as obvious as the nose on your face if you simply check what precedes them, .......on the other hand maybe it's the cats mother. :confused:

Re: Highest exchange rate for 3 years
 

If the Euro does sort itself out watch the pound tumble which is exactly why Cameron and Osborne want the Euro sorted out they want the pound weaker.

Other thing just reading about this compromise and what Mrs Merkel says it seems that the whole thing is basically geared towards preventing Countries like Spain and Italy having to go for full blown out bailouts like Greece etc. So I wonder how the likes of Greece Ireland feel about that? Having to go through the bail out process and the German austerity plan. The EU for me are not bothered about the likes of the small countries, this will all I would think unravel in the future and this will not end happy for them.
If and when they get this EU wide state then I doubt Spain or Italy or other larger/Countries with clout will have that much to fear but I wouldn't want to be living in the smaller weaker countries they will just be told do as we say or GO but as we have seen the Greeks dare not or cannot do that. This mess will just go on and on UK will not influence anything no matter what the UK politicians want to tell us. As far as Europe goes the UK is spent and of little if any use. The time for action was when they were sorting out the Lisbon Treaty when all the scheming really started. But for the UK problem was of course we had Blair and his ambition to become the EU President, as if they would want some outsider from the UK for that position. The trap was set and the bait was taken they just have to get on with it now.