Sterling hits record new Euro low - BBC

monkeymaster

I,_Brian wrote: »

But not as many as the GBP.

The Eurozone may be sliding to recession, but it's a more robust currency than the GBP

Not sure how you can say this with any confidence - the Euro has never really been tested as a currency. It's first major test is now, cracks are already appearing with Germany at odds with the likes of Spain, Italy and Ireland.

Cleaver

ad9898 wrote: »

The government don't know what the word strategic means, as they act on what has happened rather than what may happen.

So I know which one it is as well.

If there were a general election tomorrow Ad who would you vote for? Asking out of pure curiousity really as I know you're not Mr Brown's biggest fan.

I'm no big admirer of labour, but is there really an alternative? George Osborne would be fine at organising a dinner for toffs at a posh restaurant but I wouldn't really want him running the economy (and he was origainally called Gideon. And has a son called Liberty. Both have no relevance to anything but I'm still going to hold it against him). Everytime Cameron comes on television I want to eat my own arm. He also reminds me of the lead singer of Keane, which is a completely valid reason for hating him.

Quite like Mr Cable but the rest of the Liberal party seem very good at identifying stuff that's wrong and then coming up with silly solutions to fix it. There's Clegg who stands for, erm, well, stuff, probably. And that Julie Goldsomethingorother who was in The Games on Channel 4 who they put forward for Question Time a lot. Other than that I'm a bit stumped.

Then there's UKIP, BNP, Looney (who seem quite sane now compared to the first two), Greens and lots of other one-issue parties.

So what's the alternative?

amcluesent

>target that you know the government will work to maintain<

In fact, Mandy (the real PM remember) is keen to see £-Euro parity so he can this spin that we've 'joined' the Euro and the sheeple need not be consulted further.

swiss69

" He also reminds me of the lead singer of Keane, which is a completely valid reason for hating him."

That is reason enough !

How anyone can vote for someone who was once called Gideon is beyond me.

The fact that 50% of people dont vote pretty much says it all...This figure will rise each election until in the future only 10-20% of people will bother as all parties are pretty much the same!

Speaking as a Northener I know towns here that would still vote labour if a labour government made everyone in that town redundant! Voting is something that is in built in my opinion in 80% of the electorate.

Based on this and assuming an adult population of around 40 million in this country that means around 20 milllion dont bother and 16 million vote the same way. Its the 4 million that decide who runs this country....Figures plucked from thin air yes but I bet I am not that far away with the reasoning!;)

bo_drinker

Cleaver wrote: »

If there were a general election tomorrow Ad who would you vote for? Asking out of pure curiousity really as I know you're not Mr Brown's biggest fan.

I'm no big admirer of labour, but is there really an alternative? George Osborne would be fine at organising a dinner for toffs at a posh restaurant but I wouldn't really want him running the economy (and he was origainally called Gideon. And has a son called Liberty. Both have no relevance to anything but I'm still going to hold it against him). Everytime Cameron comes on television I want to eat my own arm. He also reminds me of the lead singer of Keane, which is a completely valid reason for hating him.

Quite like Mr Cable but the rest of the Liberal party seem very good at identifying stuff that's wrong and then coming up with silly solutions to fix it. There's Clegg who stands for, erm, well, stuff, probably. And that Julie Goldsomethingorother who was in The Games on Channel 4 who they put forward for Question Time a lot. Other than that I'm a bit stumped.

Then there's UKIP, BNP, Looney (who seem quite sane now compared to the first two), Greens and lots of other one-issue parties.

So what's the alternative?

My thoughts exactly...

tomstickland

Cleaver wrote: »

George Osborne would be fine at organising a dinner for toffs at a posh restaurant but I wouldn't really want him running the economy (and he was origainally called Gideon. And has a son called Liberty. Both have no relevance to anything

I watched George Osborne on Question Time a few weeks ago and was impressed. I don't understand your "toffs" accusation. I mean, Alistair Darling was a Trot in the 70s, so maybe all he's fit for is presenting tractor production statistics if we want to operate in a stereotypical manner.

Not liking someone because of the name that their parents gave them, well, that makes me laugh.

monkeymaster

tomstickland wrote: »

Not liking someone because of the name that their parents gave them, well, that makes me laugh.

Not voting for them because they are a complete lightweight and out of their depth is valid though.

michaels

Sorry to go on topic but I think there is a picture emerging and the picture is called ...Iceland.

I have not thought it all through but the bits of info in my mind are:
Sterling weakness
Gilt CDS rates (McBritain)
LIBOR OIS spreads that are 190 basis point in GBP cf 135 odd in EUR

In Iceland the meltdown brought currency meltdown, banking system meltdown and a flip in to high (not yet hyper) inflation.

Eire is also an interesting case - will the EUR area bail them out? If they do either fall over or end up with a eur bailout I think the pressure on the UK will be even greater.

Cleaver

tomstickland wrote: »

Not liking someone because of the name that their parents gave them, well, that makes me laugh.

Good, that was my intention.

I,_Brian

monkeymaster wrote: »

Not sure how you can say this with any confidence - the Euro has never really been tested as a currency. It's first major test is now, cracks are already appearing with Germany at odds with the likes of Spain, Italy and Ireland.

I'm simply making the point that the IMF and others have highlighted GB's extensive debt bubble as the biggest in Europe for years.

The euro, on the other hand, has the advantage of spreading risk in that regardless as to whether Italy or similar faces serious problems, there are stronger economies in Europe to help take the strain - whereas Britain already is a country facing probably the most serious economic conditions in Europe.

The euro may be untested, but there's been historically more confidence in the euro as a currency over the past few years. Major economies have already set up large euro reserves in lieu of the USD, and when the dollar was plagued by uncertainty, it was the euro business moved to. Not the GBP.

We're an isolated currency, with major problems other countries in Europe don't have, not least via our reliance on financial services and the property market for economic growth the past few years - both of which are well and truly atrophied.

Just my 2c.