euro saving

Sceptic001

missile wrote: »

FYI: I have 100,000+ euros and no intention of converting them any time soon.

Would they be German (:j) or Italian (:eek:) euros?

nowakee

How long have you had that deposit. Since the days some six years ago when £1 would buy €1.48 or about three years ago when £1 would buy 0nly €1.09. Depending on the original exchange rate you can call yourself lucky or unlucky. The UK's economic cycle is different from that in Germany and the BeNeLux, therefore Sterling will move up and down against the Euro. If the Euro were to disintegrate though, the UK would not be a safe place either.

Basically the UK suffers from many of the disadvantages of the common currency, without enjoying any of its many benefits.

JustForThisOne

To answer your questions I have had the (italian) euros since June 2011 (1.20 : 1 me think)
property will be bought in the uk

I have not had the time to think about it tbh, yes it does make sense to transferring as I will be looking at properties soon (ish)

sceptic ... do I want to get frankfort euros than?

atush

Do you really want to buy right now in the italian market with the coming trouble? I would wait and see what happens myself. Prices might drop?

Sceptic001

JustForThisOne wrote: »

To answer your questions I have had the (italian) euros since June 2011 (1.20 : 1 me think)
property will be bought in the uk

I have not had the time to think about it tbh, yes it does make sense to transferring as I will be looking at properties soon (ish)

sceptic ... do I want to get frankfort euros than?

In normal times the country in which you hold euros would be irrelevant. But these are not normal times. For instance, if Greece falls out of the euro it seems inevitable that Greek savers will have their deposits re-denominated in drachma, which will devalue substantially. If there is a domino effect, Italy would be next in line. All this is of course guesswork, but if I had deposits in Italy and needed to convert to GBP I would seriously consider doing it sooner rather than later. I would be more relaxed if my deposit was in a German bank, hence my somewhat tongue-in-cheek post. We live in interesting times.

wellused

I read that Euro's are flooding out of Greece at a rate of knots people have been stopped at customs with E100,000 cash on them the legal limit is E10,000. No doubt some Italians are doing the same.

RetiredInThailand

missile wrote: »

Over the last 10 years the £ has steadily declined in value against the euro.

That just isn't so:

http://www.xe.com/currencycharts/?from=GBP&to=EUR&view=10Y

The GBP devalued seriously after the 2007/8 crash, but apart from that nothing very special has happened over the last 10 years. And of course it is now 17% up on its lowest point of a couple of years ago.

JustForThisOne

atush wrote: »

Do you really want to buy right now in the italian market with the coming trouble? I would wait and see what happens myself. Prices might drop?

I want to buy in the uk, sorry if that was not clear

I am right to be concerned and transfer the euros to the uk asa I can?
I think most of you are saying YES

or as someone of you suggested could look at putting it into the german bank that offers accounts in the uk in euros, and what would be the benefit if any of doing so?

atush

Right, we all thought you were talking buying in Itlay.

when all this started, I thought the GBP would do OK wth others shorting the euro, but it has happened as we are so interlinked. So should ther be ahuge carash I assume GBP will follow.

I'd be inclined to change your money now though or at least move it to Germany etc asthere could be restrictions int eh movement of moeny of coutnries default and banks fail?