Sterling/Euro

Old May 15th 2012, 4:33 am
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Default Re: Sterling/Euro

Interesting reading all your comments re the Euro/sterling situation. My concern is if Spain decide to pull out of the euro for many reasons, one could be that if Greece pulls out and reverts back to a devalued drachma, they would become, i would think a preferred holiday location. Good exchange rates against a devalued drachma. Spain might feel it has to react considering a massive part of their economy is based round tourisim & purchase of Spanish properties therefore they would also revert to the old & devalued currency to remain competitive.
What currency is really safe should we consider buying gold bullion?
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Old May 15th 2012, 4:51 am
  #152  
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Default Re: Sterling/Euro

Altaguy - you make an interesting point about tourism.
As for a safe currency, you need to define what you mean by "safe'. If you mean one that is going to continue to exist you need one with its own central bank, treasury etc. Which the Euro might have in the future but does not at the moment. Sterling does, the dollar does, even the rouble does.
If you mean one that is not going to lose (or gain) value, well we would all like to know that.
As for gold - I remember all the gold bugs shouting all the way up to nearly 2000 dollars an ounce. They seem to have been a bit quiet of late - $1557 last quote. If you had bought when Gordon the Moron sold, you would indeed have made a packet. Now that particular horse is well and truly out of the stable. Buy it if you want, but historically it looks very pricey to me - mind you, I sold my meagre bits and pieces around $14-1500 on the way up, so I would say that
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Old May 15th 2012, 5:18 am
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Default Re: Sterling/Euro

You needn't compare.

If Greece pulls out, it will pave the way for Italy, Portugal, Spain, and Ireland, and it's highly likely those and more will follow Greece, which is why they are fighting so hard to keep Greece in it.

They don't want to construct an exit from this autobahn for fear that Germany, France and Holland will end up holding worthless paper.
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Old May 15th 2012, 6:32 am
  #154  
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Default Re: Sterling/Euro

It's not advice I myself want to hear, but a British expat worried about the uncertainty of the pound against the Euro has an easy solution, a place where his pound will be a pound, will be a pound.

I know such a place, a place I left a few years ago because it was cold and wet for most of the time. Still, you can't have it all ways.

I could come back for a holiday a couple of times a year, top up with the sun and make sure the 'Se Vende' sign is still in place.
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Old May 25th 2012, 4:00 am
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Default Re: Sterling/Euro

Catalonia looking for bailout funds from Madrid, papers in the UK reporting. Just went over 1.25, I wonder what it will be on Monday?
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Old May 25th 2012, 4:13 am
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Default Re: Sterling/Euro

No surprise there, considering the latest news.

The pound also has its problems, and would also be subject to decline if the Eurozone goes into meltdown, which is becoming more likely every day.

Here's an interesting article about the benefits Germany is quietly enjoying from Greece's bailout:

Germany's quiet bailout

Unfortunately, the news just doesn't seem to be getting better.
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Old May 25th 2012, 7:12 am
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Default Re: Sterling/Euro

Sorry, can only find this in spanish.

Russian bank claims Greece already has plan to run its own currency alongside the €

Link
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Old May 25th 2012, 8:04 am
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Default Re: Sterling/Euro

I was watching the BBC news around 6pm this evening when they interviewed a bearded Spanish economist based in Barcelona and asked him about the Bankia problem.

I nearly choked on the Cornish Pasty I was eating when I heard the Spaniard say that Spain would need 80 to 90 Billion to save their banks, adding, with a smile, that they didn't have it.

It's about the same amount the UK needed to save their banks four years ago, but it wasn't much of a problem because we merely printed the money required.

Spain can't do that. They need to approach the ECB, and they have already exhausted their printing presses. In reality, that leaves Germany, and the leaders might want to save the Southern European countries, but the voters don't - they've had enough of Greece, and Spain is a lot bigger.

Mind you, Spanish and German ties go back many years.
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Old May 26th 2012, 3:39 am
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Currency CalculatorAmount: 500euros


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Old May 26th 2012, 4:14 am
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Default Re: Sterling/Euro

Well as I think I said earlier in this thread. If ( and it still is if) Greece et.al pull out of the Euro, then with the Germans still in , the Euro will be effectively the Dmark by another name. I'm not young and for at least the last 50 years or so I can only remember the German currency gaining in strength against the pound ( 1£ = 8DM when I first went to Germany in 1971) . So I cant see why the Euro should fall in value when ( if) the weaklings drop out. We have ddiscusseda lot of things, but I still cannot see why the Euro should fall in value if it is being used as the major currency in Germany. Unless of course somebody knows better!
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Old May 26th 2012, 4:26 am
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Default Re: Sterling/Euro

Originally Posted by HBG
Germany can't afford to leave the Euro, the Deutschmark would rise too high and make their exports unaffordable, anywhere in the world. They would benefit from a devalued Euro, and Greece being thrown out of it would guarantee that.
Germany is the Euro: they will just rename it the Mark!!!! Gert your money out and back into Swiss Francs as soon as you can. Sterling will benefit too. If you hold Euro in France, reduce exposure, but you should be okay when the French Franc is restored. But in general, keep only 10 per cent of your assets in French Euro at the moment.
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Old May 26th 2012, 4:51 am
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Default Re: Sterling/Euro

Originally Posted by teuchterpete
Well as I think I said earlier in this thread. If ( and it still is if) Greece et.al pull out of the Euro, then with the Germans still in , the Euro will be effectively the Dmark by another name. I'm not young and for at least the last 50 years or so I can only remember the German currency gaining in strength against the pound ( 1£ = 8DM when I first went to Germany in 1971) . So I cant see why the Euro should fall in value when ( if) the weaklings drop out. We have ddiscusseda lot of things, but I still cannot see why the Euro should fall in value if it is being used as the major currency in Germany. Unless of course somebody knows better!
Yes I too remember those days in the early 70's being posted to Germany and the rapid decline of the £ v DM. Maybe though that became a problem for Germany the DM was just too strong? By using the Euro they seem to be ones that have benefited most probably by it effectively weakening their currency but Med countries effectively strengthening their currency? That's how it looks to me but I am no expert. All I can see is that something has to change / give with the Euro as the weaker Med countries just can't cope with it no matter how much they say they want to stay with it.
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Old May 26th 2012, 6:54 am
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http://isellerfinance.wordpress.com/tag/teresa-may/

Emergency controls now under consideration to prevent a likely mass influx of Greeks possibly closely followed by the Spanish.
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Old May 26th 2012, 8:44 am
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This girl reckons she has all the answers to our problems.
http://www.youtube.com/watch?feature...&v=_ae7h8FioX0
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Old May 26th 2012, 8:47 am
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Default Re: Sterling/Euro

Originally Posted by Dick Dasterdly
http://isellerfinance.wordpress.com/tag/teresa-may/

Emergency controls now under consideration to prevent a likely mass influx of Greeks possibly closely followed by the Spanish.
A friend who was learning Spanish and meeting Spaniards for coversation says other way now they are asking her to help them with their English and not just the ones she was dealing with their friends as well!!
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