http://www.bbc.co.uk/news/business-21302776
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| Quote: continuing signs that the worst may be over for the eurozone economy. | |
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Hmm...
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| Pound sees biggest one-day fall against euro since 2010 http://www.x404.co.uk/forum/viewtopic.php?f=19&t=18230 |
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| Author: | pcernie [ Sat Feb 02, 2013 12:44 pm ] | |||||||||
| Post subject: | Pound sees biggest one-day fall against euro since 2010 | |||||||||
http://www.bbc.co.uk/news/business-21302776
Hmm... |
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| Author: | l3v1ck [ Sat Feb 02, 2013 2:20 pm ] |
| Post subject: | Re: Pound sees biggest one-day fall against euro since 2010 |
Doesn't that help our exports by making them cheaper and more attractive for the Europeans? |
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| Author: | pcernie [ Sat Feb 02, 2013 3:27 pm ] | |||||||||
| Post subject: | Re: Pound sees biggest one-day fall against euro since 2010 | |||||||||
I think so, cos hasn't that always been the problem with the yen? |
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| Author: | Linux_User [ Sat Feb 02, 2013 3:30 pm ] | |||||||||
| Post subject: | Re: Pound sees biggest one-day fall against euro since 2010 | |||||||||
Much too simplistic - not all costs are internal - we buy materials from abroad etc, so a weak pound can actually make British goods more expensive in some circumstances. |
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| Author: | Amnesia10 [ Sat Feb 02, 2013 3:36 pm ] | ||||||||||||||||||
| Post subject: | Re: Pound sees biggest one-day fall against euro since 2010 | ||||||||||||||||||
I think that the comment is wrong. While there may be some improvements in some countries the eurozone as a whole is still a mess. I think that it is more a criticism of what the UK is doing rather than what the europeans are doing. While this will make our exports more competitive, it could also increase domestic inflation, as we are so dependant on imports, especially for food. This will mean that inflation will be well above target and so for low and middle income workers the drop in living standards will now accelerate. |
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| Author: | JohnSheridan [ Sat Feb 02, 2013 5:57 pm ] |
| Post subject: | Re: Pound sees biggest one-day fall against euro since 2010 |
Food will be more expensive as a lot of it comes in from European countries - so as the Euro gets stronger against Sterling so will the prices 
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| Author: | ShockWaffle [ Sat Feb 02, 2013 6:09 pm ] |
| Post subject: | Re: Pound sees biggest one-day fall against euro since 2010 |
It's also a political problem. The Euro countries only tend to to take any action when confronted by extreme crisis, and then their reactions are half-hearted. The perception that they've done enough already, when in reality they still have a dire competitiveness imbalance between north and south, can't lead to good things. Plus, hopeful signs are all very well, but there's elections in Italy in May that could (and being Italian almost certainly will) have all sorts of horrible consequences. They might even be stupid enough to take Berlusconi back in some form. A blood chilling prospect that must be causing some squeaky-sphincter moments int he chancelleries of Europe. |
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| Author: | Amnesia10 [ Sat Feb 02, 2013 6:24 pm ] | |||||||||
| Post subject: | Re: Pound sees biggest one-day fall against euro since 2010 | |||||||||
They also have a tendency to tap themselves on the back when they have done something even though it is insufficient. |
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| Author: | l3v1ck [ Sat Feb 02, 2013 7:33 pm ] |
| Post subject: | Re: Pound sees biggest one-day fall against euro since 2010 |
Sounds like almost every crisis meeting they've had in the last five years. |
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| Author: | Amnesia10 [ Sat Feb 02, 2013 8:00 pm ] | |||||||||
| Post subject: | Re: Pound sees biggest one-day fall against euro since 2010 | |||||||||
And the next few. The Banks are still a mess and in a worse state than the UK banks, though ours will need another bailout eventually. |
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| Author: | ShockWaffle [ Sun Feb 03, 2013 5:31 am ] |
| Post subject: | Re: Pound sees biggest one-day fall against euro since 2010 |
Good news- official money science says the € is very slightly overvalued, and the £ is very slightly undervalued. http://www.economist.com/content/big-mac-index But praise be to Jebus that we aren't buying our Big Macs in Venezuela |
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| Author: | Amnesia10 [ Sun Feb 03, 2013 6:10 am ] | |||||||||
| Post subject: | Re: Pound sees biggest one-day fall against euro since 2010 | |||||||||
The big mac index is only a rough guide to purchasing power parity, like the Mars bar index that came before it. India might be under priced because of the lack of beef-burgers in the menu, and how they have adjusted for that. |
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| Author: | big_D [ Sun Feb 03, 2013 10:11 am ] | |||||||||
| Post subject: | Re: Pound sees biggest one-day fall against euro since 2010 | |||||||||
I hope so, I still have savings and a pension in the UK, they are worth bugger all in Euros at the moment. Hopefully the pound will rally, before I retire! |
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| Author: | JJW009 [ Sun Feb 03, 2013 12:50 pm ] | ||||||||||||||||||
| Post subject: | Re: Pound sees biggest one-day fall against euro since 2010 | ||||||||||||||||||
My parents retired to France on a UK pension. They've seen a lot of ex-pats returning to blighty because of the exchange rate already. It makes a huge difference when your income drops by nearly half... |
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| Author: | Amnesia10 [ Sun Feb 03, 2013 1:30 pm ] | |||||||||
| Post subject: | Re: Pound sees biggest one-day fall against euro since 2010 | |||||||||
My parents went to Spain last year and it was so much more expensive because of the weak pound. |
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