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Discussion Starter · #1 ·
Hi there

Hopefully this isn t duplicated as I m not sure where the other post went

Anyone in the know have any inkling as to where the euro v pound is going rate wise pls
 

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Hi there

Hopefully this isn t duplicated as I m not sure where the other post went

Anyone in the know have any inkling as to where the euro v pound is going rate wise pls

Its pretty static at the mo at around 1.14ish Not good, but its not showing any signs of dropping, it could go up?? But who knows. taking a guess will give you the most accurate prediction lol!

Jo xxx
 

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Discussion Starter · #3 ·
Its pretty static at the mo at around 1.14ish Not good, but its not showing any signs of dropping, it could go up?? But who knows. taking a guess will give you the most accurate prediction lol!

Jo xxx
Thanks lol xx
 

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Its pretty static at the mo at around 1.14ish Not good, but its not showing any signs of dropping, it could go up?? But who knows. taking a guess will give you the most accurate prediction lol!

Jo xxx
Worth keeping a weather eye on economic developments in Greece as their economy is under EU scrutiny, apparently reading between the lines they haven't been completely honest about their national debt. Similiarsituation in Portugal and Spain apparently. Unlike Dubhai they haven't got wealthy neighbours to bail them out so reliance lies within the Euro zone. The next few weeks might be interesting as reading recent financial news the pound has started to rise against the euro partly as a result.
Chris
 

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Worth keeping a weather eye on economic developments in Greece as their economy is under EU scrutiny, apparently reading between the lines they haven't been completely honest about their national debt. Similiarsituation in Portugal and Spain apparently. Unlike Dubhai they haven't got wealthy neighbours to bail them out so reliance lies within the Euro zone. The next few weeks might be interesting as reading recent financial news the pound has started to rise against the euro partly as a result.
Chris
Yes, its not good. Germany could bail them all out, which will create resentment amongst the german people and cause the whole eurozone to drop (Germany's not as sound as it likes to make out anyway!!). Or these countries could start to increase taxes and squeeze their already struggling people more - or they could revert back to their own currencies, but that would cause chaos??????????

Jo xxx
 

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Yes, its not good. Germany could bail them all out, which will create resentment amongst the german people and cause the whole eurozone to drop (Germany's not as sound as it likes to make out anyway!!). Or these countries could start to increase taxes and squeeze their already struggling people more - or they could revert back to their own currencies, but that would cause chaos??????????

Jo xxx
Hi Jo,
No I think they're stuck with the Euro. Just had a quick look & there you go hot off the press, well warm anyway ~ European debt problems in a nutshell

Total debt problem: Net debt as percentage of GDP (Gross Domestic Product)
Source: European Commission 2009 estimate

Italy - 114.6%
Greece - 112.6%
Portugal - 77.4%
UK - 68.6%
Ireland - 65.8%
Spain - 54.3%

Euro area - 78.2%

Greece is expected to hit 120% ~ just shows what a collapse in the tourist trade can do & putting up prices has to be head in the sand stuff!
It would appear Britains biggest threat is the strength of the dollar against the pound.

Chris xx
 

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Hi Jo,
No I think they're stuck with the Euro. Just had a quick look & there you go hot off the press, well warm anyway ~ European debt problems in a nutshell

Total debt problem: Net debt as percentage of GDP (Gross Domestic Product)
Source: European Commission 2009 estimate

Italy - 114.6%
Greece - 112.6%
Portugal - 77.4%
UK - 68.6%
Ireland - 65.8%
Spain - 54.3%

Euro area - 78.2%

Greece is expected to hit 120% ~ just shows what a collapse in the tourist trade can do & putting up prices has to be head in the sand stuff!
It would appear Britains biggest threat is the strength of the dollar against the pound.

Chris xx
....... and then theres China!!!! Theres no way of predicting any of it is there!!!!


Jo xxx
 

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....... and then theres China!!!! Theres no way of predicting any of it is there!!!!


Jo xxx
Sorry Jojo,
Just went off line then an e-mail prompt came up. Yes indeed no economic worries there, especially with their huge natural resources.
The only problem if the Euro becomes weak against the pound having been on a par econmically speaking is that our exports become too expensive. Good for the tourists and exchange rate for those living in Cyprus, but not so good for industry.
Bit of a no win round robin situation.
Just wish we were in Cyprus rather than here ~ our 5 year plan is more like an 8 year one at the moment. Hoping to re-adjust our finances and start again?
Chat again soon
Kind regards,
chris
 

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Discussion Starter · #9 ·
Thank you both so so much ...... I feel like I ve just had a quick financial overview, am very grateful thank you

The thing for me is that we shall be getting paid in sterling and as it rises against the euro obviously bringing it in to Cyprus we will "appear" to have more spending power

Thanks for the insight

xxx
 

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Thank you both so so much ...... I feel like I ve just had a quick financial overview, am very grateful thank you

The thing for me is that we shall be getting paid in sterling and as it rises against the euro obviously bringing it in to Cyprus we will "appear" to have more spending power

Thanks for the insight

xxx

Yes but it depends if Sterling actually does rise against the Euro, even if the Euro drops. It seems very convenient for the UK economy that every time Sterling rises against the Euro the UK Government or the Bank of England issue "bad news" eg rising unemployment rates, high public debt etc.... its been like that since the financial crisis started and I don't believe its in the UK Government's interest to change that!!!!
 

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Discussion Starter · #11 ·
I agree but for the man on the street ( on the street in Cyprus that is ) if they are being paid sterling and living in euro zone or getting a pension and living in euro zone then the pound to euro is very important and they actually won t care what G Brown annouces in the UK ;-))
 

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I agree but for the man on the street ( on the street in Cyprus that is ) if they are being paid sterling and living in euro zone or getting a pension and living in euro zone then the pound to euro is very important and they actually won t care what G Brown annouces in the UK ;-))
I think you have misunderstood what I was saying. Every month the amount I receive from the UK is being reduced because someone is issuing bad news about the UK economy that causes Sterling to fall against the Euro. Every time the exchange rate starts to rise, such as last week when it started rising nicely, it went over 1.15 some bad news is issued and the pound falls back to less than 1.14 or even lower. Thus what you receive is directly impacted by everything that happens to the UK economy because you get less Euros for your pound.
 

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As the wind blows wherever it wishes it would seem that currency exchange rates will vary day by day without any input from us so there is no use worrying - if it is belt tightening time shop around, eat and drink less and make fewer journeys to make the pension stretch but enjoy the many benefits that life in Cyprus bring.
 

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All the indicators right now call for a stronger pound. I wish I had bought pounds a few months ago. If you are converting a lump sum the rate is very important but if you are converting monthly then it will even out to an average.

The other thing I heard from an LSE professor recently was calling for a stronger US dollar but taking one currency at a time he had no currency against which the dollar should rise. I am keeping my fingers crossed that it $ will rise against the Euro sometime soon.

A few years ago I had a customer- a CPA- who was buying a big property in Greece and was checking the rates and waiting for the rate to be at it's best to close the transaction. In the end waiting one more day the $ fell so much that he would have been better off buying from day one even.
 
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