Sterling/Euro

Old May 13th 2012, 11:53 pm
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Default Re: Sterling/Euro

Originally Posted by bigglesworth
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 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!!

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Old May 13th 2012, 11:55 pm
  #122  
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Default 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

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Old May 13th 2012, 11:57 pm
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Default Re: Sterling/Euro

Originally Posted by playamonte
Yes I have heard that those BMW mini cars are quite good, but the BL mini was a very different animal.
I can't get my head around the New Mini, it may be a good car etc but when I look at one I think Maxi because of it's size.
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Old May 14th 2012, 3:22 am
  #124  
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Default Re: Sterling/Euro

Originally Posted by Fredbargate
I can't get my head around the New Mini, it may be a good car etc but when I look at one I think Maxi because of it's size.
I do not like the new mini - or the old maxi

http://www.youtube.com/watch?v=FKn9IoCYkRg
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Old May 14th 2012, 3:41 am
  #125  
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Default Re: Sterling/Euro

1.25 folks. Mervyn must be asleep, I hope no one wakes him.
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Old May 14th 2012, 4:00 am
  #126  
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Default Re: Sterling/Euro

Originally Posted by HBG
1.25 folks. Mervyn must be asleep, I hope no one wakes him.
What a difference it makes. Example: Our rent 850 euros.When we moved in that was about 840 pounds. With the rate now we pay approx 670-80 pounds.

Im lovin it......imagine 1.45 again.
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Old May 14th 2012, 6:35 am
  #127  
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Default 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
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Old May 14th 2012, 7:52 am
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Default 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.
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Old May 14th 2012, 8:08 am
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Default 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.
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Old May 14th 2012, 8:29 am
  #130  
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Default Re: Sterling/Euro

Originally Posted by Fredbargate
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.
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
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Old May 14th 2012, 9:38 am
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Default 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.
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Old May 14th 2012, 9:46 am
  #132  
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Default Re: Sterling/Euro

Originally Posted by jojojojojo
I dont even know what this means, but it sounds significant lol

http://online.wsj.com/article/BT-CO-...14-706163.html

Jo xxx
Well I can tell you what it means....I just checked my Spanish shares and they have nose dived since this time last week!

It's just as well it's only money and not something really important.

*Slopes off to lick wounds*
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Old May 14th 2012, 5:23 pm
  #133  
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Default 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.
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Old May 14th 2012, 8:43 pm
  #134  
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Default Re: Sterling/Euro

Originally Posted by tommy.irene
1.25 euro to the £1.... 500 euro is £398 or £500 is 626 euro thats at 7.30pm today Monday 14/5/2012
Looking good so far, and we may even hit the 1.30 level..
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’.
No wonder the price of gold is so high!
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Old May 14th 2012, 8:59 pm
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Default 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.
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