Anuncio

Colapsar
No hay anuncio todavía.

Why is the pound in a state of collapse ?

Colapsar
X
 
  • Filtrar
  • Tiempo
  • Mostrar
Limpiar Todo
nuevos mensajes

  • #16
    Que Sera Sera, we can't really do much about it.

    Comentario


    • #17
      Very interesting discussion on the co.uk forum re the death of the Pound. Someone there reckons they've hedged their losses by buying US Dollars. They obviously haven't seen the collapse of Sterling against the Dollar either and will have done an awful deal.

      On Bloomberg Channel, it looks as though UK may see drop in interest rates to half a percent. This will make the Pound drop even more. There is a chain of thought that if it drops at an average rate as seen over the past 18 months a Euro will cost £1.10 to purchase by February/March.

      Thinking about it, I am sure that once Sterling pensions are paid at these dropping rates, we shall see some real problems out here as many businesses are struggling now and will do so even more when their Sterling based customers disappear.

      I believe many poor souls took out mortgages in Euros. Wow, what a worry that must now be. Mortgages can be fixed etc. but exchange rates cannot.

      A useful hint I read tonight. If your habit was, for example, to draw 100 Euros for the week (or multiples thereof) draw 90 Euros instead and make it last.

      Obviously eating out will be cut back and people here will have to be more economical with their cars. I have noted that the cars are over used here but the N332 might become a lot quieter soon.

      I bet Lidls see an increase in custom as well.

      TV reception has dominated matters up to now. I bet it won't for much longer. People will not be able to afford to pay the outrageous sums being demanded by the suppliers.
      Editado por última vez por Drewth; https://torrevieja.com/forums/member/2922-drewth en , 00:26:25.

      Comentario


      • #18
        Just read this magazine article:

        Ex-pat pensioners hit by incomes drops

        By Press Association

        In the news

        November 2008 00:00


        British pensioners living abroad have seen their incomes dive by 20% during the past two years due to the falling strength of the pound, figures showed today.

        A couple living in a euro-zone country whose only income is the basic state pension would have been nearly 200 euros (£160) a month worse off in October than they were 21 months ago.

        One pound currently buys 1.25 euros, down from 1.53 euros in January
        2007, but up from 1.22 euros last month, according to currency exchange group HiFX.month, which in January last year would have bought them 960 euros.

        But by October this year, the value of their pension would have fallen to between 766 euros and 816 euros, depending on when they converted the money - a drop of up to 20%.

        If the pound continues to slide from its current level of 1.25 euros to the pound to 1.15 euros, people will see their pension fall by a further 750 euros (£600) during the coming year.

        Government figures show that just over one million pensioners currently live abroad, and many will have seen their incomes hit by the falling pound.

        Mark Bodega, director at HiFX comments: "Any pensioners who have not set up a regular payments abroad system to transfer their pension income at a fixed exchange rate each month can not fail to have noticed that they are receiving less."


        Agree with you, the shouting about Telmicro, Torresat etc etc will soon be replaced by squeals about the collapsed pound sterling.

        Comentario


        • #19
          Having had our pension arrive in the account here yesterday, I can tell you, no Commercial Day 25th December for us this year !

          The bar will have to depend on the Spanish spending money - they aren't getting ours at this time.

          Just say 'NO' to 25th December. You don't need it, the debt built up on one day is stupidity and why fuel a pretty rotton system anyway ?

          For every pound we got a euro and twenty cents. Happy memories of a year ago.

          Comentario


          • #20
            Originalmente publicado por Drewth Ver Mensaje
            Very interesting discussion on the co.uk forum re the death of the Pound. Someone there reckons they've hedged their losses by buying US Dollars. They obviously haven't seen the collapse of Sterling against the Dollar either and will have done an awful deal.
            I can't see the thinking behind that.I bought Dollars at $1.98 to the Pound. The rate is now $1.50 to the pound,which means I get more pounds back than I spent buying them.
            Editado por última vez por DC; https://torrevieja.com/forums/member/1271-dc en , 13:28:58. Razón: I corrected the exchange rate

            Comentario


            • #21
              Originalmente publicado por DC Ver Mensaje
              I can't see the thinking behind that.I bought Dollars at $2.04 to the Pound. The rate is now $1.50 to the pound,which means I get more pounds back than I spent buying them.
              I don't suppose the vast majority of people would even understand the currency markets to be able to consider doing that nor even have the nerve to gamble money on such outcomes. If they did, millions and millions would not now be facing hard times.

              Comentario


              • #22
                Thanks Bank of England, you've just talked the pound down even lower:

                £1 = 1.184 euros
                euro = 84.4 pence

                Comentario


                • #23
                  Now Germany have admitted they are going down is that going to make a difference to the pound?

                  Comentario


                  • #24
                    Originalmente publicado por Chrisdee Ver Mensaje
                    Now Germany have admitted they are going down is that going to make a difference to the pound?
                    I saw this and hoped so. Guess what ? the Pound dropped again ! Spot trading now as under:

                    £1 = 1.181 euros
                    Euro = 84.7 pence

                    This is really most concerning and beyond my understanding. If the Eurozones largest economy, Germany, says it is in recession the Euro gets stronger. Let us all hope for a cut in euro zone interest rates.....soon.

                    Comentario


                    • #25
                      Its being talked about on many other forums as well. I wonder how many TV contracts will be cancelled ?

                      An article that is very relevant:

                      Jeremy Warner: Sterling crisis threatens Brown's reflationary plans - Jeremy Warner, Business Comment - The Independent

                      Considering the UK has to buy in most of its materials including food, I wonder if the UK Government with the prospect of an exchange rate crisis on its hands may have to step in as they have done before ?

                      Prices will go up at home and that is not good for politicians not their electors.

                      Comentario


                      • #26
                        Well, have had the law laid down tonight. Pound down to E1.16 or 86.1 p so the internet goes tomorrow until matters improve. Adios - its been fun.

                        Comentario


                        • #27
                          Terribly sad to see on other forums people handing keys in for their homes and businesses closing. The pound very sadly drops further and I don't suppose any of us could have anticipated this. My friends' restaurant of six years closes after Christmas and by heavens, he worked hard to make it a success and it was until this last year when takings are down by over 50%. Went there tonight with my friends, a lovely couple on basic state pensions and they are very worried indeed about the loss of their income in such a dramatic way. A very quiet and rather sad evening indeed.

                          Comentario


                          • #28
                            Good informative article in today's Independent about the fall of the pound:

                            Pound sinks to record low against the euro - Business News, Business - The Independent

                            Comentario


                            • #29
                              BBC news article/Tory Shadow Chancellor forecasts possible full collapse in the value of the pound:

                              BBC NEWS | Video and Audio | PM 'regrets' Tory economy attack

                              Comentario


                              • #30
                                Prime Minister Brown comments on the virtual collapse of sterling:

                                UK's Brown blasts opposition for comments on sterling

                                2008-11-17 16:35 UTC (GMT)

                                LONDON, Nov 17 (Reuters) - British Prime Minister Gordon Brown blasted the opposition Conservatives on Monday for suggesting that Brown's plans to let borrowing rise could cause a run on the pound.

                                'I have never ... given a running commentary on the currency, as the opposition seem to want to do. I think it is highly irresponsible for them to do this in the present circumstances,' he told parliament.

                                'A year ago the dollar was at a low level, this year the pound is at a low level. Currencies change. If they wish to give a running commentary on sterling, they are not responsible to hold the position of even oppposition,' he added.

                                Comentario

                                Trabajando...
                                X