When will £1GBP be worth 1.20 Euros?

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  • ColdIron
    ColdIron Posts: 9,010 Forumite
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    Indeed, I wonder how many could name just 3 of the 7 presidents of the European Union (without googling) or even the institutions that they are presidents of
  • Chaykin
    Chaykin Posts: 87 Forumite
    Photogenic First Anniversary Combo Breaker First Post
    I'd say never.
  • dividendhero
    dividendhero Posts: 2,417 Forumite
    ColdIron wrote: »
    Indeed, I wonder how many could name just 3 of the 7 presidents of the European Union (without googling) or even the institutions that they are presidents of

    Likewise most people in the UK wouldn't be able to name the leaders of the UN or NATO, which is why such important and complex decisions shouldn't be left to people more used to voting contestants to be kicked of X-factor :cry:
  • Gambler101
    Gambler101 Posts: 580 Forumite
    All this talk of not getting trade deals. As a net importer surely we will benefit the worse the deal gets?
    The instructions on the box said 'Requires Windows 7 or better'. So I installed LINUX :D:D
  • Gadfium
    Gadfium Posts: 763 Forumite
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    ColdIron wrote: »
    Indeed, I wonder how many could name just 3 of the 7 presidents of the European Union (without googling) or even the institutions that they are presidents of

    There's almost certainly a huge number of people that couldn't name the leaders of the political parties in the UK, nevermind the EU.
    Gambler101 wrote: »
    All this talk of not getting trade deals. As a net importer surely we will benefit the worse the deal gets?

    I can't see that at all. Trade barriers or tariffs will impact our exports. )Tariffs will also mean a lot more paperwork and redtape on our imports. The much-vaunted replacement for the current Customs system, CHIEF, is already understaffed and it is anticipated that it will need to handle 255 million transactions after BREXIT. The trouble is that it was designed to handle 150 million. And we still have no idea what the paperwork behind those transactions will look like at this stage. A very bumpy road lies ahead.
  • JohnRo
    JohnRo Posts: 2,887 Forumite
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    Glen_Clark wrote: »
    Our problem is the exporters that underpin the value of the pound - like car manufacturers, depend on components flowing freely back and forth across the channel...

    That and their clandestine backstop 'guarantees and assurances' from HMG.
    Gadfium wrote: »
    A very bumpy road lies ahead.

    'It'll be fine' ™
    'We don't need to be smarter than the rest; we need to be more disciplined than the rest.' - WB
  • Gadfium
    Gadfium Posts: 763 Forumite
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    JohnRo wrote: »
    'It'll be fine' ™


    "Strong and stable"
    "Imaginative and flexible"

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  • EachPenny
    EachPenny Posts: 12,239 Forumite
    First Post Combo Breaker
    Glen_Clark wrote: »
    Our problem is the exporters that underpin the value of the pound - like car manufacturers, depend on components flowing freely back and forth across the channel. The thought of foreign customs officers being able to bring their production lines to a halt is enough to give everyone the jitters.

    But who owns the companies like the car manufacturers? I don't anticipate the likes of BMW being too chuffed if their production lines are affected by the petty dictats of a foreign customs officer.

    Sure, BMW could switch production of the mini to Spain or Hungary, but at what cost to the brand? What happens if UK consumers then decide to boycott BMW (for example). These and many other issues will be carefully considered by the industrialists.... and if it looks like political games are likely to pose a real threat to continued trade then you can bet your pound that the industrialists will be having strong words with the politicians.

    World trade is an extremely complex beast... it is not as simple as saying "we're leaving the EU, our economy will be screwed." - however much some people love saying it.
    "In the future, everyone will be rich for 15 minutes"
  • atush
    atush Posts: 18,726 Forumite
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    They sell more to us, then we do to them.

    So they will need to make some sort of deal, sooner rather than later.
  • Gadfium
    Gadfium Posts: 763 Forumite
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    atush wrote: »
    They sell more to us, then we do to them.

    So they will need to make some sort of deal, sooner rather than later.

    Thats the wrong way of looking at it. Comparing their trade to us as a percentage of our trade to them is pointless. You need to look at their trade to us as a percentage of the total EU trade. The UK makes up somewhere between 8 and 18% of EU total exports. In comparison, the UK exports something like 44% of it's total exports to the EU.

    We need them a hell of a lot more than they need the UK.


    https://fullfact.org/europe/uk-eu-trade/
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