Sterling/Euro
May 13th 2012, 11:53 pm
#121
squeaky clean
Joined: Mar 2010
Location: Spain 4th feb 08 - October 11, now flits batck and forth from sunny Worthing
Posts: 1,576
Re: Sterling/Euro
Well, the truth is that they will buy far fewer.
But remember they will have defaulted on their loans, so no interest payment.
Also the Greek Government will be able to raise its own finance - the track record for this for countries in default is not as poor as one might think.
And of course they can always fire up the printing presses - Mervyn King is looking for a new job next summer
But remember they will have defaulted on their loans, so no interest payment.
Also the Greek Government will be able to raise its own finance - the track record for this for countries in default is not as poor as one might think.
And of course they can always fire up the printing presses - Mervyn King is looking for a new job next summer
But firing up their printing presses AKA quantitive easing I think Merv called it, will only cause even more devaluation wont it??? I'm not sure how they could raise finances in its own right when I would assume that it would have to declare itself bankrupt the minute it leaves the eurozone!? So how will they buy oil/petrol etc????
This is only my simplistic view, cos like most people (including the experts), its hard to understand the many problematic issues in all of this!!
Jo xxx
May 13th 2012, 11:55 pm
#122
squeaky clean
Joined: Mar 2010
Location: Spain 4th feb 08 - October 11, now flits batck and forth from sunny Worthing
Posts: 1,576
Re: Sterling/Euro
I dont even know what this means, but it sounds significant lol
http://online.wsj.com/article/BT-CO-...14-706163.html
Jo xxx
http://online.wsj.com/article/BT-CO-...14-706163.html
Jo xxx
May 13th 2012, 11:57 pm
#123
Lost in BE Cyberspace
Joined: Feb 2007
Location: Land of no recession
Posts: 10,720
May 14th 2012, 3:22 am
#124
Started off with nothing
Joined: Feb 2009
Posts: 4,950
Re: Sterling/Euro
May 14th 2012, 3:41 am
#125
Lost in BE Cyberspace
Joined: May 2009
Location: Alicante province
Posts: 5,753
Re: Sterling/Euro
1.25 folks. Mervyn must be asleep, I hope no one wakes him.
May 14th 2012, 6:35 am
#127
Im a 77 year old nutcase
Joined: Mar 2011
Location: Playa del ingles...Gran Canaria..
Posts: 4,774
Re: Sterling/Euro
1.25 euro to the £1.... 500 euro is £398 or £500 is 626 euro thats at 7.30pm today Monday 14/5/2012 
May 14th 2012, 7:52 am
#128
Started off with nothing
Joined: Feb 2009
Posts: 4,950
Re: Sterling/Euro
I had thought they would reach a compromise, confidence would return and currency would stabilise. Now it seems the problems are only going to get worse. 
Time to transfer my savings out of spain I think.
Time to transfer my savings out of spain I think.
May 14th 2012, 8:08 am
#129
Lost in BE Cyberspace
Joined: Feb 2007
Location: Land of no recession
Posts: 10,720
Re: Sterling/Euro
I feel sorry for people who still have property in Spain and want to leave for a non euro country, UK
House price collapse followed by a poor exchange rate.
House price collapse followed by a poor exchange rate.
May 14th 2012, 8:29 am
#130
Lost in BE Cyberspace
Joined: Feb 2008
Posts: 5,674
Re: Sterling/Euro
Fred this couldn't happen 6 months ago when I booked my rate to pay Euro mortgage off could it! Still it's paid now so no point crying over spilled milk I will ignore the extra 5000 Euro's I could have had. I am not complaining though long may it last I say
May 14th 2012, 9:38 am
#131
Joined: Jun 2011
Location: In the middle of 10million Olive Trees
Posts: 12,053
Re: Sterling/Euro
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.
looks like I got it right - by accident.
May 14th 2012, 9:46 am
#132
BE Forum Addict
Joined: Sep 2010
Location: Near Alora....but not too near. :)
Posts: 1,646
Re: Sterling/Euro
I dont even know what this means, but it sounds significant lol
http://online.wsj.com/article/BT-CO-...14-706163.html
Jo xxx
http://online.wsj.com/article/BT-CO-...14-706163.html
Jo xxx
It's just as well it's only money and not something really important.
*Slopes off to lick wounds*
May 14th 2012, 5:23 pm
#133
Lost in BE Cyberspace
Joined: May 2009
Location: Alicante province
Posts: 5,753
Re: Sterling/Euro
It's easy to make the assumption that all of us British expats are in the same boat - with an income mainly in pounds Sterling and therefore cheering the rise of the pound against the Euro.
But I had forgotten about the expats who have transferred their holdings to Spain and are now stuck with the increasingly dodgy Euro. And the house owners caught with falling prices and no buyers in sight. And I've totally ignored the few people who actually earn their money in Spain, in Euros.
Personally, I feel safe. I maintain a Spanish bank account for day to day things and have an English bank account back home for extra safety.
At least I felt safe until someone mentioned Santander bank, my English bank. It got me thinking, it's really Banco Santander, isn't it? Banco isn't an English word, is it? Not like the good old Abbey bank, or Barclays, is it? Or RBS?
I'm going to dig up the rotten palm trees and plant vegetables, just in case.
But I had forgotten about the expats who have transferred their holdings to Spain and are now stuck with the increasingly dodgy Euro. And the house owners caught with falling prices and no buyers in sight. And I've totally ignored the few people who actually earn their money in Spain, in Euros.
Personally, I feel safe. I maintain a Spanish bank account for day to day things and have an English bank account back home for extra safety.
At least I felt safe until someone mentioned Santander bank, my English bank. It got me thinking, it's really Banco Santander, isn't it? Banco isn't an English word, is it? Not like the good old Abbey bank, or Barclays, is it? Or RBS?
I'm going to dig up the rotten palm trees and plant vegetables, just in case.
May 14th 2012, 8:43 pm
#134
Not Banned (yet)
Joined: Aug 2008
Location: Madrid
Posts: 6,400
Re: Sterling/Euro
But...looks like the Telegraph (of all papers) is seeking to expose the UK's financial position.
http://www.telegraph.co.uk/finance/f...s-Cameron.html
Dr Tim Morgan, the global head of research at Tullett Prebon, said: “It’s high time that this mendacity was exposed for what it is. Government has done very little about its spending, has appropriated three-quarters of all gains in economic output for its own use, has carried on piling up debt – and has tried to pass all this off as 'responsible austerity’.
May 14th 2012, 8:59 pm
#135
BE Forum Addict
Joined: Jan 2008
Location: The Charente - still smiling.
Posts: 2,624
Re: Sterling/Euro
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.
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.
