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If the eruo zone is such a mess
stevsand
Posts: 56 Forumite
Why has sterling dropped by 25% against such a ailing currency?
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Comments
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Why has sterling dropped by 25% against such a ailing currency?
Because the Eurozone isnt in trouble. Some countries within the Eurozone are but there are some parts (eg Germany) doing very well indeed.
It's a bit like the UK in the late 1980s where the South East was powering away and the North was suffering high unemployment.0 -
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Euro vs Sterling? That's like comparing Schalke to Wolves! Comparing the Euro against currencies that are not being stealthily devalued* however:
http://www.google.co.uk/finance?q=EURAUD
http://www.google.co.uk/finance?q=EURCHF
http://www.google.co.uk/finance?q=EURCAD
http://www.google.co.uk/finance?q=EURJPY
Big drop in the value of the Euro over the past couple of years.
*well, not so stealthy. Bill Gross wrote another damning indictment this month."The state is the great fiction by which everybody seeks to live at the expense of everybody else." -- Frederic Bastiat, 1848.0 -
*well, not so stealthy. Bill Gross wrote another damning indictment[/URL] this month.
For the uninitiated, Mr Gross helps run Pimco, the biggest bond fund for private investors in the world. He's a very interesting and amusing writer and he moves markets by dint of having such a huge amount of money to invest.
He writes a lot on the Pimco website and I've yet to find an article that wasn't worth the time spent reading it.0 -
Euro vs Sterling? That's like comparing Schalke to Wolves! Comparing the Euro against currencies that are not being stealthily devalued* however:
http://www.google.co.uk/finance?q=EURAUD
http://www.google.co.uk/finance?q=EURCHF
http://www.google.co.uk/finance?q=EURCAD
http://www.google.co.uk/finance?q=EURJPY
Big drop in the value of the Euro over the past couple of years.
*well, not so stealthy. Bill Gross wrote another damning indictment this month.
Yeah. We beat Man United - they didn't!It's getting harder & harder to keep the government in the manner to which they have become accustomed.0 -
It's a bit like the UK in the late 1980s where the South East was powering away and the North was suffering high unemployment.
I think you could also say that is very much happening in the UK now Generali.0 -
i think it's happening now again but is a bit different due to the improved transport links where there are many more young professionals coming from Europe to work in the South East/London. it's more people competing for the same jobs, property etc...Because the Eurozone isnt in trouble. Some countries within the Eurozone are but there are some parts (eg Germany) doing very well indeed.
It's a bit like the UK in the late 1980s where the South East was powering away and the North was suffering high unemployment.0 -
Nothing to do with eurozone rates rising?
Besides, it means our exports are cheaper for the Euro market.0 -
i think it's happening now again but is a bit different due to the improved transport links where there are many more young professionals coming from Europe to work in the South East/London. it's more people competing for the same jobs, property etc...
TBH the problems with the North vs the South look to me to be just the same as they were in the 1980s. The North (in general terms) is reliant on a massive subsidy from The South (in general terms). In the 1970s that subsidy was propping up unprofitable heavy industry, now it is providing Government services (eg the much derided smoking cessation counsellors).
The effect of the Tories pulling the plug on some of this transfer of resources is the same now as then.
What The North needs is a proper private sector providing jobs and creating wealth to create future jobs. What it doesn't need is to be relying on subsidies from elsewhere as if the subsidies dry up, The North is screwed.0 -
Loughton_Monkey wrote: »It's Sod's law again. I'm soon off to laze for 2 months in Spanish and Portuguese sun. My Gin & Tonics and Paella are going to cost a fortune!
Rises in VAT won't help either.0
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