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British Pound predicted to reach parity with Euro Q1 2009.

Discussion in 'Current Events' started by Unspeaked, Dec 12, 2008.

  1. macrumors 68020

    Unspeaked

    #1
    LINK

     
  2. macrumors G3

    Chip NoVaMac

    #2
    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
     
  3. Moderator

    OllyW

    Staff Member

    #3
    The Dollar is still $1.50 to the Pound :confused:
     
  4. macrumors 6502a

    #4
    This is barking mad. Just typical when I was planning on doing a trip of Europe next year.
     
  5. macrumors G3

    Chip NoVaMac

    #5
    My bad in in using currency calcs :) LOL

    You are right of course....
     
  6. macrumors 604

    CalBoy

    #6
    Although for a while it had reached much higher levels (nearing $2.00). Of course this was when the Dollar was in free-fall.
     
  7. macrumors P6

    IJ Reilly

    #7
    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).
     
  8. macrumors 68020

    #8
    It was $1.90+ about 6 months ago.
     
  9. macrumors 68020

    Peterkro

    #9
    If you change pounds to euros at a bureau you'll probably get less than parity.
     
  10. macrumors 68020

    #10
    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
     
  11. Moderator emeritus

    #11
    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.
     
  12. macrumors P6

    IJ Reilly

    #12
    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.
     
  13. macrumors 68020

    Unspeaked

    #13
    I'd heard the same reasoning...
     
  14. macrumors 68040

    synth3tik

    #14
    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.
     
  15. macrumors 68020

    #15
    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
     
  16. macrumors 68040

    synth3tik

    #16

    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.
     
  17. Moderator

    OllyW

    Staff Member

    #17
    There's only one problem with EU Referendums. ;)
     
  18. macrumors P6

    IJ Reilly

    #18
    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.
     
  19. macrumors 68030

    #19
    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.

    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.
     
  20. macrumors 68040

    #20
    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.
     
  21. macrumors 68020

    Unspeaked

    #21
    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).
     
  22. macrumors 6502a

    Macaddicttt

    #22
    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:
     
  23. macrumors 68020

    Unspeaked

    #23
    Probably all the same reasons Britain resists the euro...
     
  24. macrumors P6

    IJ Reilly

    #24
    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.
     
  25. macrumors 603

    #25
    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.
     

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