Sterling/Euro

Old May 15th 2012, 9:04 am
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Default Re: Sterling/Euro

Originally Posted by Domino
and there was me thinking I was the odd one out by transferring small amounts of cash from the UK
looks like I got it right - by accident.
I had acquaintances gloating a couple of years ago, when the exchange rate was near parity, that they had transferred all their capital over to Spanish banks whilst I'd left mine in sterling and just transferred enough each year for our living expenses. I must seek them out and raise the subject again! No, really, I wouldn't do that.

I've also heard people insisting that they will be OK because their money is in a Spanish branch of Lloyds International - they don't seem to get the fact that it's the currency it's in that will be the problem.
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Old May 15th 2012, 9:15 am
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Default Re: Sterling/Euro

Originally Posted by Lynn R
I had acquaintances gloating a couple of years ago, when the exchange rate was near parity, that they had transferred all their capital over to Spanish banks whilst I'd left mine in sterling and just transferred enough each year for our living expenses. I must seek them out and raise the subject again! No, really, I wouldn't do that.

I've also heard people insisting that they will be OK because their money is in a Spanish branch of Lloyds International - they don't seem to get the fact that it's the currency it's in that will be the problem.
you should worry for such people
Lloyds International in Spain isnt covered by the UK banking guarantees
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Old May 15th 2012, 9:16 am
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Default Re: Sterling/Euro

Originally Posted by bigglesworth
Not like you Stevie! (Mind you Tim Morgan has been banging this drum for several years, and no one seems to have started listening yet. Strangely, he seemed to start when Tullett were bought by Asians (I think) and relocated to Tokyo).

Gold has been going down for months, - (Oil has started to follow).

You have no idea how much it would annoy me, but Sir Mervyn might (unlikely as that may sound) actually start getting one thing right , commodities reducing in price.
Of course they have an awfully long way to go to get back to where he started predicting they might fall.
Yes, I've even seen pundits claim that Sir Mervyn King has played a blinder in the crisis. I suppose that history will be the best judge of that.

Last edited by steviedeluxe; May 15th 2012 at 9:25 am.
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Old May 15th 2012, 10:31 am
  #139  
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Default Re: Sterling/Euro

Originally Posted by steviedeluxe
Yes, I've even seen pundits claim that Sir Mervyn King has played a blinder in the crisis. I suppose that history will be the best judge of that.
"A legend in his own lunchtime" I fancy
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Old May 15th 2012, 11:10 am
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Default Re: Sterling/Euro

Originally Posted by steviedeluxe
Yes, I've even seen pundits claim that Sir Mervyn King has played a blinder in the crisis. I suppose that history will be the best judge of that.
I thought that it said he was "playing blind"

And history is written by the winners not the losers
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Old May 15th 2012, 11:39 am
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Default Re: Sterling/Euro

Originally Posted by Domino
you should worry for such people
Lloyds International in Spain isnt covered by the UK banking guarantees
I've tried to tell them, honestly. They just look at me with smug superiority and say "oh no, WE will be fine, our money is in a 'British' bank in Spain". What can you do with people like that?
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Old May 15th 2012, 11:46 am
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Default Re: Sterling/Euro

Originally Posted by Lynn R
I've tried to tell them, honestly. They just look at me with smug superiority and say "oh no, WE will be fine, our money is in a 'British' bank in Spain". What can you do with people like that?
open another bottle of Rioja or Cava, sit on the terrace and wait.
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Old May 15th 2012, 12:38 pm
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Default Re: Sterling/Euro

Originally Posted by Domino
open another bottle of Rioja or Cava, sit on the terrace and wait.
Yes, 'keep calm and carry on' is the motto I think we should all adopt!
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Old May 15th 2012, 1:16 pm
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Default Re: Sterling/Euro

Originally Posted by Lynn R
Yes, 'keep calm and carry on' is the motto I think we should all adopt!
as my BH says "thats being very British"

http://upload.wikimedia.org/wikipedi...d-carry-on.jpg
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Old May 15th 2012, 1:34 pm
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Default Re: Sterling/Euro

Originally Posted by Domino
you should worry for such people
Lloyds International in Spain isnt covered by the UK banking guarantees
It wouldn't be would it but it is covered by the Spanish banking guarantees which are based on an EU directive and they are pretty much the same across the EU - €100000.
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Old May 15th 2012, 3:19 pm
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Default Re: Sterling/Euro

Originally Posted by Fred James
It wouldn't be would it but it is covered by the Spanish banking guarantees which are based on an EU directive and they are pretty much the same across the EU - €100000.
Is that 100,000 in total per person or 100,000 per each seperate account held ?
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Old May 15th 2012, 4:03 pm
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Default Re: Sterling/Euro

Originally Posted by Fred James
It wouldn't be would it but it is covered by the Spanish banking guarantees which are based on an EU directive and they are pretty much the same across the EU - €100000.
But in the event of Spain leaving the euro, or the euro collapsing altogether, your €100,000 would be changed into the new, devalued currency, no?
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Old May 15th 2012, 4:07 pm
  #148  
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Default Re: Sterling/Euro

Originally Posted by Fred James
It wouldn't be would it but it is covered by the Spanish banking guarantees which are based on an EU directive and they are pretty much the same across the EU - €100000.
Yes I already knew that,... but as it took me eighteen months to get my overpaid 95€ from the government my grandchildren would probably be old themselves by the time they paid back a 100.000€.
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Old May 15th 2012, 4:09 pm
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Default Re: Sterling/Euro

Originally Posted by Domino
as my BH says "thats being very British"

http://upload.wikimedia.org/wikipedi...d-carry-on.jpg
Well, that's what we're supposed to be good at, isn't it? And when things get really bad, the famous stiff upper lip can be brought into play - and when they get really REALLY bad, the Dunkirk spirit will be need. But do we still have any, that's the question?
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Old May 15th 2012, 4:26 pm
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Default Re: Sterling/Euro

This is a double plagiarism, as I am copying it from someone who clearly did not realise how well known it is, but it seems appropriate. Courtesy I believe of John Cleese

"The English are feeling the pinch in relation to recent events in Syria and have therefore raised their security level from "Miffed" to "Peeved". Soon, though, security levels may be raised yet again to "Irritated" or even "A Bit Cross." The English have not been "A Bit Cross" since the blitz in 1940 when tea supplies nearly ran out. Terrorists have been re-categorized from "Tiresome" to "A Bloody Nuisance." The last time the British issued a "Bloody Nuisance" warning level was in 1588, when threatened by the Spanish Armada. The Scots don't have any other levels. This is the reason they have been used on the front line of the British army for the last 300 years. The French government announced yesterday that it has raised its terror alert level from "Run" to "Hide." The only two higher levels in France are "Collaborate" and "Surrender." The rise was precipitated by a recent fire that destroyed France 's white flag factory, effectively paralyzing the country's military capability. Italy has increased the alert level from "Shout Loudly and Excitedly" to "Elaborate Military Posturing." Two more levels remain: "Ineffective Combat Operations" and "Change Sides." The Germans have increased their alert state from "Disdainful Arrogance" to "Dress in Uniform and Sing Marching Songs." They also have two higher levels: "Invade a Neighbour" and "Lose." Belgians, on the other hand, are all on holiday as usual; the only threat they are worried about is NATO pulling out of Brussels. The Spanish are all excited to see their new submarines ready to deploy. These beautifully designed subs have glass bottoms so the new Spanish navy can get a really good look at the old Spanish navy Australia, meanwhile, has raised its security level from "No worries" to "She'll be right." Two more escalation levels remain: "Crikey! I think we'll need to cancel the barbie this weekend!" and "The barbie is cancelled." So far no situation has ever warranted use of the last final escalation level.
A final thought -
" Greece is collapsing,
the Iranians are getting aggressive,
and Rome is in disarray.
Welcome back to 430 BC".
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