mirage Posted January 2, 2009 Share Posted January 2, 2009 Post Office pm today was selling 0.98 and Barclays 0.96 what a mess this goverment, bankers etc have allowed us to get into. Link to comment Share on other sites More sharing options...
handyman Posted January 2, 2009 Share Posted January 2, 2009 need to buy one less beer at monaco F1 this year :-( I think the austria trip in september will be hit on the head at this rate :-( Link to comment Share on other sites More sharing options...
Klyne Posted January 2, 2009 Share Posted January 2, 2009 mirage - 2009-01-02 8:19 PM Post Office pm today was selling 0.98 and Barclays 0.96 what a mess this goverment, bankers etc have allowed us to get into. 1.0125 at M&S today, so a slight improvement today although talk of interest rates going down further won't help. We should have gone into the Euro years ago when it was 1.50 to the £. David Link to comment Share on other sites More sharing options...
Syd Posted January 3, 2009 Share Posted January 3, 2009 Klyne - 2009-01-02 10:12 PM mirage - 2009-01-02 8:19 PM Post Office pm today was selling 0.98 and Barclays 0.96 what a mess this goverment, bankers etc have allowed us to get into. 1.0125 at M&S today, so a slight improvement today although talk of interest rates going down further won't help. We should have gone into the Euro years ago when it was 1.50 to the £. David Don't agree with you David, we are most definately better off outside of the Euro, especially at the moment. Have a look at Spain and Italy plus one or two others for confirmation Link to comment Share on other sites More sharing options...
David Dwight Posted January 3, 2009 Share Posted January 3, 2009 It was the Euros's 10th Birthday this last week. The experts are saying it will not see its 20th. The PIG economies are in a big mess because of the Euro. If we had joined the Euro as the last PM wanted the present recession woluld be a lot worse than it is. We will survive this recession because we still have the pound and the Bank of England can set its rates to suit our economy. Not Brussells messing it up for us. David LONG LIVE STERLING. Link to comment Share on other sites More sharing options...
BGD Posted January 3, 2009 Share Posted January 3, 2009 David Dwight - 2009-01-03 10:43 AM It was the Euros's 10th Birthday this last week. The experts are saying it will not see its 20th. The PIG economies are in a big mess because of the Euro. If we had joined the Euro as the last PM wanted the present recession woluld be a lot worse than it is. We will survive this recession because we still have the pound and the Bank of England can set its rates to suit our economy. Not Brussells messing it up for us. David LONG LIVE STERLING. The downside of a democracy I guess: Every voter is entitled to their opinion, even when they are totally wrong about the consequences of their view. Link to comment Share on other sites More sharing options...
BrianR Posted January 3, 2009 Share Posted January 3, 2009 Every voter is entitled to their opinion, even when they are totally wrong about the consequences of their view. Are yes, but who is right and who is wrong? If we had gone in at 1.50€=£1, our industry would now be strugling to export to the Continent. Just think, what you are effectively sugesting is that the price of our exports to the Continent should be substantially increased. How would that benefit us? It would just increase unemployment. That exchange rate would certainly benefit us when we travel to the Continent, but taking the effect on the country as a whole into account we would be worse off. Link to comment Share on other sites More sharing options...
Usinmyknaus Posted January 3, 2009 Share Posted January 3, 2009 As our currency and housing market continue to bomb, I can't help wondering if the tide of Brits going to France and Spain to buy "cheap" property will reverse? Imagine - British villages bought out wholesale to become French, Dutch or German enclaves. Hordes of foreigners extholling the virtues of exotic English ethnic and regional food such as Pudding and Chips on Tray With Gravy, Cod and Chips with Mushy Peas, Black Pudding, Venison, Arbroath Smokies, Beef and Ale Pie, Roast Beef, Vindaloo etc. Er, OK probably not when they see the (fiddled) crime statistics and probability of terror attacks. Bob :-) Link to comment Share on other sites More sharing options...
Philman Posted January 3, 2009 Share Posted January 3, 2009 I thought the Euro was first issued in 2002 so is only 7 years old. It does seem longer though. :-D Phil. Link to comment Share on other sites More sharing options...
Guest Tracker Posted January 3, 2009 Share Posted January 3, 2009 I would be prepared to pay more for my foreign trips if the upside were a strong and competitive British manufacturing based economy generating foreign capital for the UK. That should benefit us all, as well as the national debt, but given successive government's penchant for cock ups and waste I would anticipate any income so derived to be squandered as was the North Sea oil income which, along with Nuclear power stations, was long claimed to be the key to our national salvation? Link to comment Share on other sites More sharing options...
Patricia Posted January 3, 2009 Share Posted January 3, 2009 Could someone please enlighten as to exactly which wholly British, i.e. no foreign parts at all, manufactured items we actually do still sell to euro based countries? Or in Britain itself for that matter. Link to comment Share on other sites More sharing options...
niton Posted January 3, 2009 Share Posted January 3, 2009 Hi, I never buy Euros in the UK. I wait until in France then use my Nationwide Debit Card to obtain Euros. Nationwide give you the Interbank rate and do not charge commision either. I usually keep a few Euros from the last trip. So if the Interbank rate for the Euro is 1.04€ that is what Nationwide will give you while abroad. I have been using Nationwide for about 7 years and have not had any problems. Peter. Link to comment Share on other sites More sharing options...
dwaviation Posted January 3, 2009 Share Posted January 3, 2009 I can't see the Euro lasting too much longer to be honest. I don't think France and Germany joined just to see themselves propping up club med and not being able to sell their planes, cars, phones etc to anyone outside the EU. If the ECB don't drop the rates soon its curtains. Just look at what happened in Greece when countries are unable to change their own fiscal policy to suit especially when Spain, Portugal, Italy and Ireland are even worse off - Riots all round anyone? Perhaps thats what the shiny new eurocorps is for? Link to comment Share on other sites More sharing options...
robertandjean Posted January 3, 2009 Share Posted January 3, 2009 Hi, Yes we also use the Nationwide debit card for getting hold of Euros and find it the best and cheapest way. Except that if we had joined the Euro years ago we would not have to worry about exchange rates or the rising cost of both our trips to France and that new motorhome! A shame a lot of people take notice of the likes of the Daily Mail and The Sun. But on the positive side the many aires that are free in France will cost us no more, the weather will be better than here and we might just be able to afford the odd glass of vine rouge. So no matter what, we are heading for France again in March. Jean and Robert Link to comment Share on other sites More sharing options...
twooks Posted January 3, 2009 Share Posted January 3, 2009 BGD - 2009-01-03 11:11 AM David Dwight - 2009-01-03 10:43 AM It was the Euros's 10th Birthday this last week. The experts are saying it will not see its 20th. The PIG economies are in a big mess because of the Euro. If we had joined the Euro as the last PM wanted the present recession woluld be a lot worse than it is. We will survive this recession because we still have the pound and the Bank of England can set its rates to suit our economy. Not Brussells messing it up for us. David LONG LIVE STERLING. The downside of a democracy I guess: Every voter is entitled to their opinion, even when they are totally wrong about the consequences of their view. :D :D :D :D :D rock on (lol) B-) Link to comment Share on other sites More sharing options...
malc d Posted January 3, 2009 Share Posted January 3, 2009 Patricia - 2009-01-03 4:58 PM Could someone please enlighten as to exactly which wholly British, i.e. no foreign parts at all, manufactured items we actually do still sell to euro based countries? Or in Britain itself for that matter. I'm puzzled by that too. Just what do we export in any quantity ? ( Not including holidaymakers of course ) :-( Link to comment Share on other sites More sharing options...
Klyne Posted January 3, 2009 Share Posted January 3, 2009 dwaviation - 2009-01-03 6:30 PM I can't see the Euro lasting too much longer to be honest. I don't think France and Germany joined just to see themselves propping up club med and not being able to sell their planes, cars, phones etc to anyone outside the EU. If the ECB don't drop the rates soon its curtains. Just look at what happened in Greece when countries are unable to change their own fiscal policy to suit especially when Spain, Portugal, Italy and Ireland are even worse off - Riots all round anyone? Perhaps thats what the shiny new eurocorps is for? Most unlikely to happen. Don't forget before the Euro every country was virtually tied to the value of the D Mark its just called the Euro now! There is too much invested in the Euro for it to change back and it would also bring financial chaos to mainland Europe. It, would of course, be a stronger currency if it also included Sterling. David Link to comment Share on other sites More sharing options...
Patricia Posted January 3, 2009 Share Posted January 3, 2009 malc d - 2009-01-03 7:27 PM Patricia - 2009-01-03 4:58 PM Could someone please enlighten as to exactly which wholly British, i.e. no foreign parts at all, manufactured items we actually do still sell to euro based countries? Or in Britain itself for that matter. I'm puzzled by that too. Just what do we export in any quantity ? ( Not including holidaymakers of course ) :-( Glad somebody else is questioning this myth. I saw part of a TV news programme before Xmas about a small manufacturer, I think of whistles (?), who said that when stirling falls they usually sell many more but not this time: they are selling less than ever! Link to comment Share on other sites More sharing options...
cheetahdavie Posted January 3, 2009 Share Posted January 3, 2009 I'm puzzled by that too. Just what do we export in any quantity ? ( Not including holidaymakers of course ) What about exports of politicians? I have noticed that Scot ..MaCavity?..he seems to appear all over the world [sorry..globe{al}] with his underpants over his trousers.He his either saving the worlds economies..or trying to get back to the UK after being exported. Link to comment Share on other sites More sharing options...
BGD Posted January 4, 2009 Share Posted January 4, 2009 It's perhaps a nice myth, but unfortunately not any longer a fact that Britain is an "exporting" country at all. If you look at the monthly national accounts, called the "Blue Book", published each month by the Office for National Statistics, you'll see that Britain has had a massive balance of payments deficit for many years now (ie the value of the goods and services purchased from abroad has been bigger than the value of the goods and services sold abroad). What is even more concerning is that this deficit has grown at a very rapid level; AND that it includes all the value-added of the British financial trading and banking systems....which have of course now gone into freefall in the past year. The actual value of what little manufacturing exports remain is completely dwarfed by the value of imports (both of finished goods, and of components and materials), as the "added-value" of their conversion into finished products is, relatively, very poor in Britain. (Labour and social costs are high, and labour-unit-productivity is a lot lower in Britain than in most other developed countries nowadays. In short, British workers produce less and cost more than in their competitor countries). Remaining oustdie of the euro has only exacerbated the additional costs to any business in Britain that trades with any other country in the eurozone. And the currency conversion/hedging costs are an additional burden on such businesses with plants/premises/operations in Britain. Ask any Finance Director of any international trading business whether remaining outside of the currency where 80% of Britains trade is done, and he'll tell you how lunatic it is; and how much it's really costing Britain plc. Link to comment Share on other sites More sharing options...
BrianR Posted January 4, 2009 Share Posted January 4, 2009 BGD - 2009-01-04 1:53 AM Ask any Finance Director of any international trading business whether remaining outside of the currency where 80% of Britains trade is done, and he'll tell you how lunatic it is; and how much it's really costing Britain plc. As an (ex) Finance Director in a major European appliance manufacturing group, you can ask me, and I will tell you that it is not "lunatic" to stay out of the Eurozone, and many of my colleagues in the zone wish that they were outside it. To avoid false assumptions being made, I shold add that the Euro existed before I retired. Link to comment Share on other sites More sharing options...
BGD Posted January 4, 2009 Share Posted January 4, 2009 BrianR - 2009-01-04 10:19 AM BGD - 2009-01-04 1:53 AM Ask any Finance Director of any international trading business whether remaining outside of the currency where 80% of Britains trade is done, and he'll tell you how lunatic it is; and how much it's really costing Britain plc. As an (ex) Finance Director in a major European appliance manufacturing group, you can ask me, and I will tell you that it is not "lunatic" to stay out of the Eurozone, and many of my colleagues in the zone wish that they were outside it. To avoid false assumptions being made, I shold add that the Euro existed before I retired. Then we'll have to agree to disagree. Link to comment Share on other sites More sharing options...
BGD Posted January 4, 2009 Share Posted January 4, 2009 BrianR - 2009-01-04 10:19 AM BGD - 2009-01-04 1:53 AM Ask any Finance Director of any international trading business whether remaining outside of the currency where 80% of Britains trade is done, and he'll tell you how lunatic it is; and how much it's really costing Britain plc. As an (ex) Finance Director in a major European appliance manufacturing group, you can ask me, and I will tell you that it is not "lunatic" to stay out of the Eurozone, and many of my colleagues in the zone wish that they were outside it. To avoid false assumptions being made, I shold add that the Euro existed before I retired. Then we'll have to agree to disagree. Link to comment Share on other sites More sharing options...
niton Posted January 4, 2009 Share Posted January 4, 2009 The unrest experienced in Greece over the last few weeks can be attributed to being in the Euro Zone. Also Ireland and Italy are also suffering and we may see unrest in other countries in the future. The Euro Zone is run by France and Germany for their benifit and as been seen you cannot have one interest rate for all the countries in the Euro it does not work. That is why we stayed out to give us the flexibility to set our own interest rates. In the future countries like Greece, Italy and Ireland may have to pull out of the Euro to survive, as Spain and Portugal may have to. Peter. Link to comment Share on other sites More sharing options...
David Dwight Posted January 4, 2009 Share Posted January 4, 2009 Peter and Brian, It seems that people like us know what we know, and a great possibility that we will be proved right from experience. It is a pioty those that think they know the answers dont get on and do something about it. Having connections in France it appears that a lot of the ordinary folk there would rather go back to the Franc. David Link to comment Share on other sites More sharing options...
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