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View Full Version : British Pound predicted to reach parity with Euro Q1 2009.


Unspeaked
Dec 12, 2008, 10:10 AM
LINK (http://biz.yahoo.com/ap/081212/eu_britain_pound.html?.v=4)

Pound hits low at euro 1.118
Friday December 12, 6:41 am ET

LONDON (AP) -- The British pound fell to a record low against the euro on Friday for the fifth consecutive day, hitting euro 1.118 as some analysts predicted the British currency is eventually headed for parity, or one pound to the euro.

It was the pound's weakest rate since the euro was launched in 1999, and the rate for British travelers closed the gap with parity still further, with some exchange bureaus offering euro 1.07 to the pound.

"It's looking like it's going to hit parity in the first quarter of next year," said Mark Deans, a dealer at Moneycorp in London.

The pound has fallen by around 20 percent against the euro in the past year as the Bank of England has lowered interest rates from a peak of 5.75 percent to a more than 50-year low of 2 percent -- a move that can weaken demand for a country's currency by reducing the yield on interest-bearing investments.

Fears about the British economy, which shrank 0.5 percent in the third quarter and appears headed into a serious downturn -- are also weighing on the currency.

The lower pound raises costs for Britons when they travel to the 15 countries that use the euro, and raises the price of imported goods.

The weaker currency should be a boost for British exporters, but the economic woes of the country's largest export markets in the United States and Europe are curbing demand for products, negating some of those positive effects.

The pound was also lower against the U.S. dollar, at $1.4950, down from $1.4978.

Chip NoVaMac
Dec 12, 2008, 11:11 AM
As a "Yank" that visited the UK a few years ago when my dollar was like $1.50 to the pound.. I wish I could afford travel back there now.... actually I could afford it, but now putting my money in my mattress LOL

OllyW
Dec 12, 2008, 11:24 AM
As a "Yank" that visited the UK a few years ago when my dollar was like $1.50 to the pound.. I wish I could afford travel back there now.... actually I could afford it, but now putting my money in my mattress LOL

The Dollar is still $1.50 to the Pound :confused:

mogzieee
Dec 12, 2008, 11:30 AM
This is barking mad. Just typical when I was planning on doing a trip of Europe next year.

Chip NoVaMac
Dec 12, 2008, 11:32 AM
The Dollar is still $1.50 to the Pound :confused:

My bad in in using currency calcs :) LOL

You are right of course....

CalBoy
Dec 12, 2008, 12:01 PM
The Dollar is still $1.50 to the Pound :confused:

Although for a while it had reached much higher levels (nearing $2.00). Of course this was when the Dollar was in free-fall.

IJ Reilly
Dec 12, 2008, 12:13 PM
The GPB was at US$1.47 for a time last week. The talk was of interest rates being lowered again in the UK around the beginning of the year, which should push it down further, all other things being equal (which they rarely are).

djellison
Dec 12, 2008, 01:18 PM
The Dollar is still $1.50 to the Pound :confused:

It was $1.90+ about 6 months ago.

Peterkro
Dec 12, 2008, 01:21 PM
If you change pounds to euros at a bureau you'll probably get less than parity.

djellison
Dec 12, 2008, 01:31 PM
A pound will give me about 1.08 Euros at the moment at the post office. I'm off to Dublin (good news for my wallet, it's a short trip) - so will have to buy some in early Feb.

Doug

Blue Velvet
Dec 12, 2008, 01:38 PM
Yet, here in the UK, we were being told years ago that the Euro would be a disaster... the chorus of doomsayers, shills and pundits with heads up their behinds actually get paid for uttering this nonsense.

IJ Reilly
Dec 12, 2008, 01:44 PM
I understand the recent collapse of the GBP has revived talk of the UK joining the Eurozone. I was under the impression that the resistance to monetary union has more to do with nationalism than economics.

Unspeaked
Dec 12, 2008, 01:50 PM
I understand the recent collapse of the GBP has revived talk of the UK joining the Eurozone. I was under the impression that the resistance to monetary union has more to do with nationalism than economics.

I'd heard the same reasoning...

synth3tik
Dec 12, 2008, 01:52 PM
I know when currency starts to fall it really sucks, but with buying a lot of software and other things from the UK and EU countries I kind of do welcome this. Especially after the US dollar already fell pretty hard.

djellison
Dec 12, 2008, 02:06 PM
I was under the impression that the resistance to monetary union has more to do with nationalism than economics.

There are pros and cons economically. The UK socially, politically and economically is the odd one out in the EU - we're an Island geographically, culturally, and financially. Personally, I'd rather we got the referendum so we could decide and be done with it, one way or the other. 10 years of avoiding the issue with our fiscal heads in the sand has not helped things.

Doug

synth3tik
Dec 12, 2008, 02:11 PM
Yet, here in the UK, we were being told years ago that the Euro would be a disaster... the chorus of doomsayers, shills and pundits with heads up their behinds actually get paid for uttering this nonsense.


The idea of taking a bunch of countries and setting a grouped currency sounds pretty much like a disaster. Here in the US there was a lot of people thinking it was going to fail. Sadly the Euro dominance is making the Amero more and more likely.

OllyW
Dec 12, 2008, 02:12 PM
Personally, I'd rather we got the referendum so we could decide and be done with it, one way or the other.

There's only one problem with EU Referendums (http://news.bbc.co.uk/1/hi/world/europe/7754044.stm). ;)

IJ Reilly
Dec 12, 2008, 02:20 PM
The idea of taking a bunch of countries and setting a grouped currency sounds pretty much like a disaster. Here in the US there was a lot of people thinking it was going to fail. Sadly the Euro dominance is making the Amero more and more likely.

I think this to be very doubtful. The US and Canada are perhaps similar enough economically for the proposition to make some sense, but different enough politically to create substantial obstacles. Mexico is very dissimilar to both in economic and political terms. It's just not a good fit.

weckart
Dec 12, 2008, 02:22 PM
Yet, here in the UK, we were being told years ago that the Euro would be a disaster... the chorus of doomsayers, shills and pundits with heads up their behinds actually get paid for uttering this nonsense.

Or believing the opposite nonsense? :p The euro launched at about 1.2 to the pound and is not far off that now with the UK economy suppposedly in crisis. For most of its life the euro was much lower. In the short term, the euro is currently benefiting from doubts about the strength of the US and UK economies, but is unlikely to last for too long as Europe has enough problems of its own.

I understand the recent collapse of the GBP has revived talk of the UK joining the Eurozone. I was under the impression that the resistance to monetary union has more to do with nationalism than economics.

Partly that among the general populace, but there are sufficient obstacles from an economic point of view to make joining the euro not the smartest idea for the UK at the moment. Monetary policymakers have enough problems trying to keep the euro on an even keel with widely divergent economies among its member without trying to accommodate a large economy like the UK's, which is really out of step in the economic cycle compared with its euro partners.

nick9191
Dec 12, 2008, 02:38 PM
As a "Yank" that visited the UK a few years ago when my dollar was like $1.50 to the pound.. I wish I could afford travel back there now.... actually I could afford it, but now putting my money in my mattress LOL

Isn't it better when the pound is weaker against the dollar if you want to travel here?

A year ago 1 dollar would buy you 50p. Today it will buy you almost 70p.

If a brit wanted to travel to America then it would be the opposite, as a pound one year ago would buy 2 dollars, today it buys $1.50.

Unspeaked
Dec 12, 2008, 03:33 PM
Isn't it better when the pound is weaker against the dollar if you want to travel here?

A year ago 1 dollar would buy you 50p. Today it will buy you almost 70p.

If a brit wanted to travel to America then it would be the opposite, as a pound one year ago would buy 2 dollars, today it buys $1.50.

I think the poster you're quoting meant what you're saying, but just messed up his wording.

And as far as the pound vs. euro, one year ago a pound got you 1.41 euros. Today it gets you 1.11 (and dropping).

Macaddicttt
Dec 12, 2008, 04:51 PM
Sadly the Euro dominance is making the Amero more and more likely.

I thinkt he Amero is a ridiculous conspiracy theory, but one thing I've never been able to figure out is why people think it would be so terrible. Nostalgia for the dollar? :confused:

Unspeaked
Dec 13, 2008, 01:14 AM
I thinkt he Amero is a ridiculous conspiracy theory, but one thing I've never been able to figure out is why people think it would be so terrible. Nostalgia for the dollar? :confused:

Probably all the same reasons Britain resists the euro...

IJ Reilly
Dec 13, 2008, 11:43 AM
Probably all the same reasons Britain resists the euro...

Probably not one in a thousand people has even heard of the Amero concept. It's got few supporters anywhere. It's kind of pointless to resist something which doesn't even exist.

snberk103
Dec 13, 2008, 06:38 PM
I thinkt he Amero is a ridiculous conspiracy theory, but one thing I've never been able to figure out is why people think it would be so terrible. Nostalgia for the dollar? :confused:

I did some research (just skimmed) on the Amero concept because some friends were convinced it was a done deal. Near as I could figure the people who most promote it's use are pretty flaky. The people who will most oppose it are the Canadians and Mexicans since it means giving up sovereignty over monetary policy. And quite bluntly, events of the past few months have clearly shown that the Americans can't be trusted to manage their own monetary policy, much less a continent's. The Americans won't accept the Amero because they won't accept that Canada and Mexico should have any say in the American system - despite the fact that if Canada had been in charge of the American monetary rules and regulations this whole mess would not have happened.

Thank G*d for small mercies. I think this whole fiasco will put the final nail in the coffin of the Amero idea.

IJ Reilly
Dec 14, 2008, 12:27 AM
The Amero was never more than a fantasy, so it's not a matter of what Americans or anyone else will accept.

yg17
Dec 14, 2008, 12:58 AM
The Amero was never more than a fantasy, so it's not a matter of what Americans or anyone else will accept.

Yeah...I know a few people who were completely convinced that by the end of this decade, the US, Canada and Mexico would all switch to the Amero, and form a North American Union, not unlike the EU where borders were more relaxed or non-existant and the governments worked closely together on just about everything, and that perhaps by the end of the next decade, we might all just merge into one big country. There's never been any substantial proof that the Amero was ever even considered by anyone high up enough in government to have any influence on the matter. It's just some conspiracy theory pushed out by the same Lou Dobbs worshipping xenophobic conspiracy theorists who also think 9/11 was done by the government.

Anyways, on an unrelated note, I know absolutely nothing about foreign currency exchange. I do know that I'm going over to London and Berlin in February and want to get the most for my dollar. Will this be a good thing for me? Or should I go to the bank ASAP and exchange a few hundred dollars for some Pounds and Euros before they get more expensive? Or perhaps there's the 3rd option of don't worry about it and just have a good time? :D

woolyback
Dec 14, 2008, 03:38 AM
Yet, here in the UK, we were being told years ago that the Euro would be a disaster... the chorus of doomsayers, shills and pundits with heads up their behinds actually get paid for uttering this nonsense.

Given this is the first real financial crisis that the Euro has faced, I think it's going to be interesting to see how it copes.

IJ Reilly
Dec 14, 2008, 11:44 AM
Anyways, on an unrelated note, I know absolutely nothing about foreign currency exchange. I do know that I'm going over to London and Berlin in February and want to get the most for my dollar. Will this be a good thing for me? Or should I go to the bank ASAP and exchange a few hundred dollars for some Pounds and Euros before they get more expensive? Or perhaps there's the 3rd option of don't worry about it and just have a good time? :D

Nobody really knows. Hope that helps. ;)

If I had to guess, the US economy was the first to be hit by this slump and so may be the first to show signs of recovery. If that scenario plays out, then the dollar may strengthen some over the coming year. The other argument for this scenario is that Britain and the EU will probably be forced to lower interest rates further to reach some sort of parity with the US (where the Prime Rate now stands at 1%). Lower interest rates tend to devalue currencies.

We're planning a trip to Britain in June and are faced with the same dilemma. Some of our reservations will be made this month so for better or worse the current exchange rate will be locked in for a few days of our stay. Probably the best advice is to hedge your bets if possible.

yg17
Dec 14, 2008, 11:55 AM
Nobody really knows. Hope that helps. ;)

If I had to guess, the US economy was the first to be hit by this slump and so may be the first to show signs of recovery. If that scenario plays out, then the dollar may strengthen some over the coming year. The other argument for this scenario is that Britain and the EU will probably be forced to lower interest rates further to reach some sort of parity with the US (where the Prime Rate now stands at 1%). Lower interest rates tend to devalue currencies.

We're planning a trip to Britain in June and are faced with the same dilemma. Some of our reservations will be made this month so for better or worse the current exchange rate will be locked in for a few days of our stay. Probably the best advice is to hedge your bets if possible.

Thanks :)

The hotel thing was what was annoying me too. I booked at a Holiday Inn in both London and Berlin and took the option of paying for the entire stay in advance. This was back in October I think, and the dollar's value has certainly increased since then, so I might've screwed myself a little bit. OTOH, you get a cheaper rate by paying in advance so it's probably all a wash in the end.

Ditto for my British Airways flight between London and Berlin. I think I would've saved a good chunk of change booking it now as opposed to a few months ago. Oh well, nothing I can do about it. With my luck, the dollar's value would've plummeted if I waited :D

IJ Reilly
Dec 14, 2008, 12:04 PM
On the flights, I will probably wait a month or two -- with the price of fuel dropping the cost of airline tickets should too. And you often see good rates for booking 4-6 months in advance on international flights.

yg17
Dec 14, 2008, 12:07 PM
On the flights, I will probably wait a month or two -- with the price of fuel dropping the cost of airline tickets should too. And you often see good rates for booking 4-6 months in advance on international flights.


Good points. I suppose you could never really be certain. I booked these flights when gas was at $4/gal and didn't seem to stop going up, so I thought it would be a good idea to book before fuel went up even more. Oh well....FWIW, I just checked BA and the same flight still costs what I paid...72.

IJ Reilly
Dec 14, 2008, 12:16 PM
I'm just hoping against hope. It's all a WAG. ;)

Unspeaked
Dec 29, 2008, 07:32 AM
Looks like this might finally happen this week...

LINK (http://biz.yahoo.com/rb/081229/business_us_markets_sterling.html?.v=1)


The euro climbed as high as 97.98 pence in extremely thin trade, edging closer to parity after figures showed that UK home prices continued to fall in December, taking them nearly 10 percent lower since the start of the credit crunch in August 2007...

"Given how euro/sterling has moved and given all the talk about it reaching parity, I don't think (the 100 pence level) is going to be an obstacle," said Sinha at Barclays.

He added that the pair could "easily" reach parity before the new year due to poor liquidity.

MBX
Dec 29, 2008, 08:31 AM
British Pound is being pounded

johnsmclean
Dec 29, 2008, 08:47 AM
Looks like this might finally happen this week...

LINK (http://biz.yahoo.com/rb/081229/business_us_markets_sterling.html?.v=1)

Read somewhere that the reason for GBP sterlings parity with the Euro is that here in the UK we have cut interest rates more quickly and sharply than the European Central Bank. When the ECB starts to cut rates early next year should see a correction and GBP sterling recover. A good time to stock up on GBP sterling if you live in a Eurozone country (and have any spare cash !).

Wonder if the Apple store in Belfast is attracting lots of visitors from the Irish Republic ?

Unspeaked
Dec 29, 2008, 09:15 AM
Read somewhere that the reason for GBP sterlings parity with the Euro is that here in the UK we have cut interest rates more quickly and sharply than the European Central Bank. When the ECB starts to cut rates early next year should see a correction and GBP sterling recover. A good time to stock up on GBP sterling if you live in a Eurozone country (and have any spare cash !).

I think that has something to do with it, but isn't the whole reason.

The US has been cutting interest rates just as aggressively as the UK, yet the pound has performed nearly as poorly against the dollar as it has the euro.

Kebabselector
Dec 29, 2008, 05:02 PM
Wonder if the Apple store in Belfast is attracting lots of visitors from the Irish Republic ?

Cross border shopping has gone mad apparently (especially clothes).

garybUK
Dec 30, 2008, 03:28 AM
These economic tests old fish face (Gordon Brown) was talking about seem to be here, if the pound gets any worse i think we will have a stronger case for going into the Euro.

There has already been speculation about ministers secretly talking about joining up in the very near future. http://www.guardian.co.uk/politics/2008/dec/02/foreign-policy-euro No smoke without fire.... (Smoke machines don't count as its dry ice) :p

Also with the Euro / GBP at or near parity it's easier to change.

millar876
Dec 30, 2008, 04:11 AM
I always wanted the euro. Now that I'm older and somewhat wiser, I still think it's a good idea for our import/export industry now that it's near parity, and it means I won't have to change money for holidays.

trule
Dec 30, 2008, 05:08 AM
These economic tests old fish face (Gordon Brown) was talking about seem to be here, if the pound gets any worse i think we will have a stronger case for going into the Euro.


Question is, with the pound falling near to 50% against the Euro since mid 2007, do you think that the Euro countries want the Brits joining? The Germans are pretty tired of supporting some of the more lackluster Euro founders, they are welcoming to the Eastern nations because along with the Euro comes new markets for them...but what does the UK have to offer?

For the UK, well, part of the reason the pound is falling is that the world is starting to wonder what the UK actually does? US makes war and consumes, Japan makes cars, China makes crap, Australia makes raw materials, Germany makes complex machines, Scandinavia makes wood....what is driving the UK economy? It was house prices and finance...not so good for the pound then.


The pound is about all thats left of a once great empire, if they let that go then the nation will finally catch up with reality. Could be the most positive thing to happen to the UK, a rebirth as a Euro nation, but its not nice medicine to take.


I'm buying the pound, I'm sure the UK does something useful for the rest of the world...the world just needs to find out what it is and then balance shall be restored. Something good for the empire no doubt :D

dubhe
Dec 30, 2008, 05:27 AM
Anyone recommend a dashboard widget for displaying / and /$ and not much else?

garybUK
Dec 30, 2008, 05:36 AM
Question is, with the pound falling near to 50% against the Euro since mid 2007, do you think that the Euro countries want the Brits joining? The Germans are pretty tired of supporting some of the more lackluster Euro founders, they are welcoming to the Eastern nations because along with the Euro comes new markets for them...but what does the UK have to offer?

For the UK, well, part of the reason the pound is falling is that the world is starting to wonder what the UK actually does? US makes war and consumes, Japan makes cars, China makes crap, Australia makes raw materials, Germany makes complex machines, Scandinavia makes wood....what is driving the UK economy? It was house prices and finance...not so good for the pound then.


The pound is about all thats left of a once great empire, if they let that go then the nation will finally catch up with reality. Could be the most positive thing to happen to the UK, a rebirth as a Euro nation, but its not nice medicine to take.


I'm buying the pound, I'm sure the UK does something useful for the rest of the world...the world just needs to find out what it is and then balance shall be restored. Something good for the empire no doubt :D

Are you kidding? the UK is the second largest economy in the EU (Behing Germany) it would actually relieve some pressure of Germany supporting the rest of the EU (I'm looking at you Ireland and Spain.... sponges! :P)

The UK puts THE most money into the EU and gets some of the least back!!!

And as for what we do, well sir look at your US dollars, more are traded in London than anywhere else. We are the financial powerhouse of the world, look at most of the major banks in the world (Barclays, HSBC, RBS, BOSHBOS, Lloyds)

And to ask what do we do? thats a bit rich, when the US are so protectionist about awarding contracts to their own people, you killed off our steel industry, moaned when we (BaE Systems) won contracts with your military. Look at the Eurofighter Typhoon and how well that's being received with foreign contracts (granted it's a Europe Wide effort) look at Rolls Royce making a hellova lot of Aeroplane engines and ship engines for markets around the world. Satellites in space, a lot of those are built in the UK. Parts of Airbus,

Unspeaked
Dec 30, 2008, 10:16 AM
LINK (http://biz.yahoo.com/ap/081230/eu_britain_pound.html?.v=2)

Pound's flirtation with euro parity hits tourists

By Emily Flynn Vencat, AP Business Writer

LONDON (AP) -- British tourists going to continental Europe to celebrate the New Year were getting fewer euros for their pounds on Tuesday than at any time since the common European currency's 1999 launch.

The pound's relentless fall showed no sign of letting up and currency analysts said it was only a matter of time before the official exchange rate hits one pound per euro.

Officially, a pound was still worth slightly more than a euro on Tuesday, hovering at a near-record low of euro1.0240 after sustaining falls of 13 percent against the euro this month alone.

But many tourists changing their money to go on vacation were already getting less than a pound for each euro, as exchange booth rates are usually slightly lower than rates on financial markets.

Britain's Post Office, for instance, was offering just euro98.04 for 100 pounds -- levels that are prompting some British newspapers to label the pound's plunge a "currency crisis."

"In past decades a currency crisis on this scale would have threatened governments," said the Daily Mail. "Across the Irish Sea, the sickly pound has led to a stampede of shoppers heading across the border for bargain buys."

Currency analysts say the market exchange rate will hit parity early in the new year, as Britain's economic gloom pushes the Bank of England to cut interest rates even more than it already has to stimulate the economy. Lower rates can weaken demand for a country's currency by reducing the yield on interest-bearing investments.

"The sentiment around sterling at the moment is unrelentingly negative," said Glenn Uniacke, a London-based currency specialist at Moneycorp. "There's no reason to believe we won't hit parity within weeks."

Britain's economy shrank by 0.6 percent in the third quarter, and looks like it is heading into a serious recession.

"Recent price behavior gives little reason to believe that parity won't be found in the near term," said James Hughes, a currency analyst with CMC Markets in London, who is predicting that the Bank of England will slash the base interest rate by as much as a 1 percentage point by February.

The pound has already fallen by more than 25 percent against the euro this year -- hitting an all-time low of euro1.0205 on Monday -- as the Bank of England has lowered interest rates from a peak of 5.75 percent to a more than 50-year low of 2 percent.

Interest rates in the euro zone remain higher at 2.5 percent, despite a 0.75 percent cut by the European Central Bank earlier this month.

The lower pound raises costs for Britons when they travel to the 15 countries that use the euro, and raises the price of imported goods.

Exporters, who usually benefit from a lower currency, are not getting much help from the pound's decline because the global economic slowdown is leading to weaker consumer demand in Britain's major export markets of the United States and Europe.

The pound was little changed against the U.S. dollar on Tuesday at $1.4500. At this time last year, 1 pound would buy more than $2.

aethelbert
Dec 30, 2008, 10:53 AM
Anyone recommend a dashboard widget for displaying / and /$ and not much else?
If you already use the stocks widget, just add:

GBPEUR=X and EURGBP=X

Abstract
Dec 30, 2008, 11:55 AM
British Pound is being pounded
You made a sterling observation.

kastenbrust
Dec 30, 2008, 12:26 PM
The whole point was to achieve parity, its part of the economic rescue package by the Government, by cutting interest rates foreign investments in our currency and banks was reduced and the currency weakened, hence we have achieved parity with the euro, now we can keep our workforce employed during the recession because it will be cheaper to manufacture here than in the rest of europe during the recession, and when it all ends our currency will return to its normal place again with the increase in interest rates to prevent deflation.

IJ Reilly
Dec 30, 2008, 12:31 PM
You made a sterling observation.

I'm in suspense.

skunk
Dec 30, 2008, 12:32 PM
I'm in suspense.Makes sense.

CalBoy
Dec 30, 2008, 01:42 PM
Makes sense.

These puns are positively shilling.

IJ Reilly
Dec 30, 2008, 01:44 PM
These puns are positively shilling.

They're florin me.

skunk
Dec 30, 2008, 01:46 PM
To be quite frank, I was a baht to confess that I have a real yen for pun(t)s.

CalBoy
Dec 30, 2008, 01:52 PM
They're florin me.

To be quite frank, I was a baht to confess that I have a real yen for pun(t)s.

I'd say you're both off the Mark.

Unspeaked
Dec 30, 2008, 02:08 PM
Will you quit with the puns so we can get back to a franc discussion of currency?!

I'm going to go finish my dinar...

weckart
Dec 30, 2008, 02:43 PM
The whole point was to achieve parity, its part of the economic rescue package by the Government, by cutting interest rates foreign investments in our currency and banks was reduced and the currency weakened, hence we have achieved parity with the euro, now we can keep our workforce employed during the recession because it will be cheaper to manufacture here than in the rest of europe during the recession, and when it all ends our currency will return to its normal place again with the increase in interest rates to prevent deflation.

Correct. It is a difficult balancing act trying to create conditions conducive towards improving exports whilst curbing unnecessary imports and damaging the economy yet further by putting confidence in the national economy under question.

At the moment, the pound is noticeably undervalued against the euro and probably not far off PPP against the US dollar. To go into the euro at current exchange rates would only store up the same problems that led to Black Wednesday in the past. German reunification and self interest did for the pound in 1992, so I would not rely on any of the EU partners, least of all Germany, to pull together once currencies move towards their natural competitive rates.

IJ Reilly
Dec 30, 2008, 04:28 PM
Will you quit with the puns so we can get back to a franc discussion of currency?!

I'm going to go finish my dinar...

I'm getting pretty lira of this discussion.

skunk
Dec 30, 2008, 04:42 PM
I'm getting pretty lira of this discussion.You're only saying that because the elegant edifice of your argument has been reduced to rouble.

IJ Reilly
Dec 30, 2008, 04:53 PM
You can't rupee of my dreams.

JadawinUK
Dec 30, 2008, 07:32 PM
You can't rupee of my dreams.

Euro'll crazy, let me Taler you that! :D

I am self-employed, living in the UK, but being paid in Euros, because most of my work is for a German company. Which means I get a LOT more pounds now that I did just a few months ago. For 1000 Euros I used to get like 720, now it's almost 990. 270 more for each 1000 Euros without actually being paid more for my work. A 37% payrise, so to speak.

But I am on holiday in Germany at the moment and THAT is much more expensive now than it used to be. Can't wait to be back to the UK.

Unspeaked
Dec 31, 2008, 03:08 AM
Euro'll crazy, let me Taler you that! :D

I am self-employed, living in the UK, but being paid in Euros, because most of my work is for a German company. Which means I get a LOT more pounds now that I did just a few months ago. For 1000 Euros I used to get like 720, now it's almost 990. 270 more for each 1000 Euros without actually being paid more for my work. A 37% payrise, so to speak.

But I am on holiday in Germany at the moment and THAT is much more expensive now than it used to be. Can't wait to be back to the UK.

It sounds like you're in the ideal situation to be in. A pay raise without an official pay raise. And a substantial one, at that!

trule
Dec 31, 2008, 06:16 AM
Are you kidding? the UK is the second largest economy in the EU (Behing Germany) it would actually relieve some pressure of Germany supporting the rest of the EU (I'm looking at you Ireland and Spain.... sponges! :P)

The UK puts THE most money into the EU and gets some of the least back!!!

And as for what we do, well sir look at your US dollars, more are traded in London than anywhere else. We are the financial powerhouse of the world, look at most of the major banks in the world (Barclays, HSBC, RBS, BOSHBOS, Lloyds)

And to ask what do we do? thats a bit rich, when the US are so protectionist about awarding contracts to their own people, you killed off our steel industry, moaned when we (BaE Systems) won contracts with your military. Look at the Eurofighter Typhoon and how well that's being received with foreign contracts (granted it's a Europe Wide effort) look at Rolls Royce making a hellova lot of Aeroplane engines and ship engines for markets around the world. Satellites in space, a lot of those are built in the UK. Parts of Airbus,

Yes, thanks for putting me straight (I'm not from the US either). Lets see, financial industry...nationalised, steel...could not compete, air industry...can't do anything without the french/germans/spanish.

So what can the UK do? Complain about how good they used to be.... :eek:


As pointed out by another poster, the pound is being devalued. Thats good for foreign companies as the UK becomes a cheaper place to do business, its bad for people in the UK however as all imports rise in cost.

A currency being devalued is not a mark of success! And given the current state of affairs you might find a few other countries are already beating the UK at the devaluation game.

yg17
Dec 31, 2008, 06:41 AM
You can't rupee of my dreams.


I like seeing the Pound tanking, I'm not going to have to peso much when I go to London in 2 months.

lamadude
Dec 31, 2008, 06:48 AM
Here in Belgium, quite a few of my friends went christmas shopping in London. This has always been popular, but never more than this year.
Because of the low value of the pound and the new faster eurostar connection, it's a great day out, and you save money! From my home town I can be in London in 2 hours by train, I love it.
I hope the exchange rate stays like this for a while so I can go on a few UK trips after my exams.

garybUK
Dec 31, 2008, 07:16 AM
Yes, thanks for putting me straight (I'm not from the US either). Lets see, financial industry...nationalised, steel...could not compete, air industry...can't do anything without the french/germans/spanish.

So what can the UK do? Complain about how good they used to be.... :eek:


As pointed out by another poster, the pound is being devalued. Thats good for foreign companies as the UK becomes a cheaper place to do business, its bad for people in the UK however as all imports rise in cost.

A currency being devalued is not a mark of success! And given the current state of affairs you might find a few other countries are already beating the UK at the devaluation game.

I'm not denying were up the creek without a paddle, but to say stuff like 'The UK has no place in the world' is idiotic. I agree on some of your points though, that devaluing the pound is a BAD move.... i think our pound hasn't much life in it left and we will have to move to the Euro. So please, i love my country and do not make snide remarks about it :) I know these discussions can get heated but no need to rub people up the wrong way!

Have a happy new year.

skunk
Dec 31, 2008, 08:22 AM
So please, i love my country and do not make snide remarks about it :) I know these discussions can get heated but no need to rub people up the wrong way!I really don't see why you should expect special consideration: the Americans here have to endure almost constant piss-taking from the Europeans, Canadians and Antipodeans. Learn to live with it, after all, most of it is true...