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British Pound against the Euro
mpjacko
Posts: 64 Forumite
What are people views on the falling pound against the Euro? Will we ever reach 1 pound = 1 euro, if so when do people think it will be.
Its good news for me as i am working and living in euro land and i need to pay off my egg loan so i'm holding out as long as possible for the right time to send over some money.
I know, it would be cheaper to pay the loan off and i would if i had all the money buti am only in the position to send large instalments.
Does anyone know of any good articles from experts in the field on the falling pound against the euro. I am really interested in reading them and listening to other people views
thanks
Its good news for me as i am working and living in euro land and i need to pay off my egg loan so i'm holding out as long as possible for the right time to send over some money.
I know, it would be cheaper to pay the loan off and i would if i had all the money buti am only in the position to send large instalments.
Does anyone know of any good articles from experts in the field on the falling pound against the euro. I am really interested in reading them and listening to other people views
thanks
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Comments
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I have being thinking about buying a flat in Portugal. I guess I will have to think a bit longer.Mortgage free
Vocational freedom has arrived0 -
You can safely ignore the experts when it comes to currency predictions. I earn my wages in Us dollars and have properties in Euros and have paid attention to the various reports over the years and they are all just random guesses.
I took out a fixed trade for the next 18 months so a 1 to 1 GBPEUR rate would be great for me but I'd be careful fixing a rate as things are at the moment as it's already very low and could easily go up to 1.4.0 -
Depnds where you are in euroland - the north-western bits can probably handle a strong euro better than the "club med" countries who depend more on tourism and/or building holiday homes. Can't see many Americans visiting this year, and it's going to start pointing the Brits more at the US, Bulgaria, and Turkey.
Spookily (or maybe not) declared EU inflation is hgher than poundland even though the euro has gone up around 15% against the quid and the dollar in the last year. But leaving fantasy-land economics aside, must be worrying that inflation is going up quite strongly even as the euro is appreciating rapidly.0 -
Much of the current strength of the Euro against the USD and GBP is due to the 'perceived' strength of the ECB, much of it due to the mistaken belief than the ECB is somehow a carbon copy of the Bundesbank.
Certainly the ECB is far more concerned with Inflation targetting than either the Fed of BoE appear to be, and this will in the short term help stop too much erosion of the 'real' value of the Euro.
However, I have never been a convert to the notion that a 'manufactured' currency such as the Euro can work long term, and I foresee the current Economic climate exacerbating many of the tensions within the Euro that will over the medium term lead to a significant erosion of it's value, and eventual demise.'In nature, there are neither rewards nor punishments - there are Consequences.'0 -
Don't understand most of the posts (such knowledge is too lofty for me to understand) but I do know my husband's Teachers' Pension, paid in £s in the UK is now worth quite a bit less than when we came here to southern Spain 3.5 years ago.
Even here in the sticks the cost of living has gone up and now his £550 pcm has to go further than it otherwise would have done and we are getting less euros for our money..
If it goes down much further we won't have enough to live on.(AKA HRH_MUngo)
Member #10 of £2 savers club
Imagine someone holding forth on biology whose only knowledge of the subject is the Book of British Birds, and you have a rough idea of what it feels like to read Richard Dawkins on theology: Terry Eagleton0 -
Certainly the ECB is far more concerned with Inflation targetting than either the Fed of BoE appear to be, and this will in the short term help stop too much erosion of the 'real' value of the Euro. .
A guy on bloomberg thought this was due to the ultimate fear in euroland being the Wiemar republic, hyper-inflation, and wheelbarrows of cash for a cup of coffee.
And the ulitame fear in the states, of Great deppression style slumps, Hoovervilles, and people throwing themselves out of the window.
Reassuring that our central bankers are basing fiscal, and economic policy on events that happend nearly a hundred years ago.
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Well from this chart http://finance.yahoo.com/currency/convert?from=EUR&to=GBP&amt=30&t=5d
the next record level set will be 80p (or 4 pounds to 5 euros) - scary! We've already dropped past 3 to 4.
Yes, I seriously do think that 1GBP to 1EUR is a possibility. But it it gets there then why should it stop and not go further.
The UK made its decision in 2001 and now it must face the consequences. Time (and ground) has been lost - and there is only drift in government. Even if there was miraculous change of heart at the top these things take years to set in motion (look at decimalization or metrication as examples of British procrastination).....under construction.... COVID is a [discontinued] scam0 -
I can sympathise with anyone who is affected by the exchange rate. Some friends of mine in Spain have lost almost 20 per cent of their income over the last few months, and, of course, the cost of living continues to rise at a rate of knots. Count our blessings.....we can save on heating bills, even though it is sometimes chilly in the winter in Murcia.
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The UK made its decision in 2001 and now it must face the consequences
It was the right decision then, it still is now and will continue to be the right decision.
The Euro is/was an experiment in Financial Engineering that was always doomed to failure.
Funny how just a couple of years ago the 'news' was full of people bemoaning the strong pound, and how it was overvalued against the Euro. Now the same dopes are running around like headless chickens worried about a weak pound.'In nature, there are neither rewards nor punishments - there are Consequences.'0 -
So, of course the creation of the Euro was a political exercise which glossed over the 'club med' issues. However, you can easily imagine that Gorrdunn and his sock-puppet chancellor are engineering £ drop to parity with the Euro.
Then Nulabour can spin the lie that since 1 £=1 Euro Britain has, in effect, 'joined' the Euro zone, ensuring that they leave the next Tory government with an additional 'poison pill' of being in the Euro zone. FACT - the Euro zone will break up as the USSR did.0
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