Preparedness for when

[Deleted User]

Did you never have someone hang the phone up for you?

Frugalsod

Bedsit_Bob wrote: »

The Euro exchange rate has improved again.

Yesterday, Ramsdens was selling Euros at 1.2755.

Today, they's selling them at 1.2886.

Compared to what I got for my £400, in November, I'd be better off today by over 20 Euros.

I wonder how much further it will go?

I would think a bit further. QE is designed to bail out the banks to encourage them to lend, but with the added bonus of trashing the currency.

The problem is that banks with the extra funds cannot lend it out. Customers are already over indebted and will be paying back debt. Businesses do not see enough business out there to justify investing in new plant and equipment and expanding is just too risky right now for businesses. So where will all this credit go? Probably to speculators to bid up currencies and commodities. That is what pushed up food and energy prices for most of us last time and it meant we cut back elsewhere.

[Deleted User]

I suspect it could go a lot higher, if Greece leaves the Euro.

Frugalsod

Bedsit_Bob wrote: »

I suspect it could go a lot higher, if Greece leaves the Euro.

I think that the politicians across Europe have one problem save the Euro or save the banks. They cannot have both. I suspect that they will save the banks and destroy the Eurozone and possibly the EU in the process as countries are ejected from the EU as they exit the eurozone.

Frugalsod

Bedsit_Bob wrote: »

If you have tried that with me Softstuff, you would have found yourself with a counter full of items, and no customer.

I would do the same. Most of the time I am not in a rush so do not mind but if I were then they can get stuffed. It is just as easy to get it online.

COOLTRIKERCHICK

so with the EU ..Qe.. Do you think food prices will go up then??


it really does confuse me, when they can just print ( cyber money) wish I could just do that to my bank balance lol..

1Tonsil

Greece has been told in no uncertain terms that they cannot leave the EU as this option was never included when everyone signed up. The EU has whoever runs Greece by the short and curlies now as they have refused to buy any bonds from Greece and will buy from all the other countries in the EU instead.

The Syriza group show signs that they might win. They do not want to come out of the euro, but to sort out the mess that is the bailout. It was revealed today that the Germans have been doing some creative accounting and not using the method of accounting for Greece that they use for every other country.

The EU is trying to make folks vote for the current party by telling them horror stories of what will happen if they vote for the wrong group..... it has worked against them though as the euro is in free fall at the moment.

The ordinary Greek citizen here is going to vote for Syriza as they cant take any more .....the others , many of whom have been bought....are voting for the current robbers....and old boys brigade.


This is One tonsil in Corfu, signing off till the fireworks begin tomorrow night....the rebirth of democracy...unless the dirty tricks brigade fix the voting as they have in the past:eek:

Karmacat

Good luck, onetonsil - stay safe, from the weather and demonstrations and anything else that gets thrown your way.

I must say, if I were Greek and voting in tomorrow's election, I'd be really tempted to vote Syriza.

[Deleted User]

If Greece elects the anti-austerity party tomorrow, I don't see they'll have any option but to quit the Euro, and, once one country quits, several others will follow, in rapid succession.

[Deleted User]

1Tonsil wrote: »

Greece has been told in no uncertain terms that they cannot leave the EU as this option was never included when everyone signed up.

But there is the option for them to quit the Single Currency, which, if the anti-austerity party wins, will be pretty much the only option.