exchange rate!

[jojo]

Well the exchange rate is not looking very good for those of us who receive our income via sterling, only 1.14e = £1!!! Is parity looming???

Jo

[Stravinsky]

Originally Posted by jojo

Well the exchange rate is not looking very good for those of us who receive our income via sterling, only 1.14e = £1!!! Is parity looming???

Jo

We're all doomed
Linked with the cr@p interest rate and the disintegration of any investments, things aint looking to good for the near future

[chris(madrid)]

Originally Posted by Stravinsky

We're all doomed

Not ALL - <evil Dr Forbes type laugh>

[jojo]

Originally Posted by Stravinsky

We're all doomed
Linked with the cr@p interest rate and the disintegration of any investments, things aint looking to good for the near future

We'll be paying the banks to look after our savings before long!! The only good thing is that we have a tracker mortgage on our property in the UK which IS one of the few that hasnt been "collared", but yes, my savings and the exchange rate are not looking good!

Where is it all going to end I wonder??

Jo

[SunnySpain]

Originally Posted by jojo

We'll be paying the banks to look after our savings before long!! Where is it all going to end I wonder??

Jo

Maybe we should apply for a bailout or at the very least a rescue plan - lol

[owdoggy]

For the first time in our lives me & Sue have managed to build up some serious savings ...... then watch the interest rate go down like a lead balloon. We also plan to sell our house to have the buying power in Spain then look on as the housing market goes down the pan. Do you think someone is trying to tell us summat?

We're not bad people ........ our timing is cack but we're not bad people


Doggy

[SunnySpain]

The pound has actually dropped 15% in value against the Euro in 2008
and 25% agains the Dollar in the same period, so I guess you could say
that sterling has taken a bit of a pounding (pun intended) - lol

[jojo]

good for british exports tho (not british expats lol!!!)

Jo

[SunnySpain]

Originally Posted by jojo

good for british exports tho (not british expats lol!!!)

Jo

Absolutely, especially to the US and the Eurozone

[crookesey]

Originally Posted by jojo

Well the exchange rate is not looking very good for those of us who receive our income via sterling, only 1.14e = £1!!! Is parity looming???

Jo

Jo,

Don't even try to make any sense out of it, because there isn't any. The German, French and Spanish automotive industries are in melt down because of the supposed strength of what is essensially a Mickey Mouse currency. The Euro was doomed to fail as soon as its acceptance expanded within the European Community, how in gods name can Spain's needs be the same as Germany's?

For you expats who rely on UK money it is indeed a worry. For those who severed their ties with the UK a few years ago by selling at the top of the market and buying a cheaper Spanish property whilst exchanging their pounds for 60 pence euros, its a different matter. That is of course if their main income is not derived from UK pensions.

The pound is worth what its worth because of the miss management of the UK ecomony by the government and the banks. House prices reached false heights and the banks kept on lending whilst people kept on spending borrowed money. Does this perhaps remind you of Spain? Spain's errors are hidden within an all embracing single currency, chickens coming home to roost, comes to mind.

You asked 'is parity looming?', well by the look of it the answer is yes, but IMHO it will not be a permanent thing. We have had our collective backsides kicked and our wings clipped, the days of jam today, will return to those of jam when we can afford it.