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Pound gaining on the Euro - V slowly

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andy, dead cat bounce now though wink only down to what it was at 4 pm yesterday Very Happy
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+0.1 per cent was worse than expected and is probably bent as gordon brown adds in the next 5 years of defence spending to get it up to a positive mumber so he can say he cured the recession that was the fault of margret thatcher for privatising british telecom..
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CANV CANVINGTON, the figures comes from an independent department and not from Brown, and at the moment only 40% of the submissions/returns have been included to calculate this figure.
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the dead cat has bounced back to life Very Happy up on the day at the moment wink
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These FX traders clearly don't know what they're doing. They should read this thread before doing anything stupid like buying sterling. rolling eyes
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rayscoops, 'independent' department.. what wonderful imaginary world do you inhabit wink ..
1.1540 now as the greeks proclaim there is nothing wrong with their economic policies and they are not pulling out of the euro.. tut tut sometimes less is more.. a bored fx market ahd just about forgotten about this
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CANV CANVINGTON, i like my imaginary world Very Happy
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MMMmmm nice Cool wink
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pushing 1.16 at the moment, highest it has been since August Very Happy
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Typical.

My company is about to pay me a bonus denominated in Euros, but because they don't have the systems in place, can't extract the UK income tax while still putting it direct into my euro account. So they are converting it to £ first.

Which means in my glass half empty world no doubt, they'll exchange at the hightest rate around, then I'll get to pay the commish to put it back, by which time the rate will have plummeted and I lose out Bah humbug!
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JimW, I have the solution to your woes.......tell them to give me the bonus!
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Aw.....

Poor old brits eh? I mean, its not as if for years, and years, weve been going to Euro zones, changing our sterling for fistfulls of cash and swanning round like Abramovich in the January sales...is it?

Weve had it unbelievably good for aeons...not quite as cheap as it once was does not equal expensive imho!

Sp8rs
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shiva_71, you're missing the point. If it wasn't for us, they'd all be speaking German. In fact, some of them are anyway. DAMN TRAITORS.

I DEMAND €5 TO THE POUND NOW
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You know it makes sense.
Yeah, 1.16

1.60 here we come Laughing
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Otherwise you'll just go on seeing the one name:
FastEddie, Boredsurfing, dream on boys! You can but live in hope

I'm well p!ssed off with the change as I've lost between a third and a quarter of my UK income with the fall in the value of the pound over the past 18 months. And my UK bank is still stinging me for ATM charges and exchange rate changes every time I withdraw money from my account. No chance of changing banks due to not having a UK address or residency proof, so I'm stuffed by the banking system whatever happens.

When you put most of your eggs in the financial and property basket, it is hardly surprising that the value is going to fluctuate when the banks get burnt! It is still fairly fragile without the solid basis of a home manufacturing base, and you cannot blame any one particular political entity for that sad situation.

At least my income earned here in Euros has increased slightly, but not by the amount I have lost out to the greed of the international financial markets over the past few years.

rolling eyes
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the hard currency germans are turning the screw on spain and greece.. they in turn are starting to squeal .. the german taxpayer has had enough .. club med and oirland will eventually be ditched leaving the hard core euro behind.. in euroland gdp terms greece and ireland are irrelevant.. spain would make a few ripples tho..
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Boredsurfing, as I am employed by a manufacturer, I do hope you are wrong. As a hotelier, are you not also benefiting from a weak £? More people staying in the UK - and more visiting from overseas?
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Well, the person's real but it's just a made up name, see?
Quote:

And my UK bank is still stinging me for ATM charges


Samerberg Sue, Move to the Nationwide.... they don't charge for overseas cash withdrawals....
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SnowGod wrote:
Quote:

And my UK bank is still stinging me for ATM charges


Samerberg Sue, Move to the Nationwide.... they don't charge for overseas cash withdrawals....


Yep, think the best choice I made as a 16 year old was opening a Flexaccount!
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SnowGod, I am not a UK resident any more, as I said in my post. The anti-terror and money laundering laws mean that I cannot open a UK bank account, although I am a UK citizen. I need proof of residency in the form of my name on utilities bills or proof I have paid my council tax. These rules were introduced I was told post 9/11 the last time I enquired.

My income is too modest for the Expat banks or offshore bolt-holes, so I'm stuffed - stuck with the dear old Nat West as I have been for the past 40 odd years.

I believe that new customers at the Nationwide no longer have that little perk, if I remember correctly.

So keep praying for a miracle, you'll need it if you want to get those rates! Laughing

Although, where Mr/Ms Canvington gets their information I shudder to think - what a load of old tosh! Still trolling the waste-paper baskets at the UKIP or BNP headquarters I presume! rolling eyes

We've just been given a tax cut here in Germany and the solid basis of middle-sized German companies (which is the heart of "Made in Germany") is leading to a positive projection of growth in the economy after a negative year (only one, by the way). My salary went up 80 Euros a month after tax this month! A lot of companies are expanding their work forces, especially in the technical markets. My company, for example has just employed another 3 project engineers and shifted to 3 production shifts per day 6 days a week. We are taking on new workers in the production areas as well as opening an additional production facility in Romania and a new R&D lab in Canada. And we are definitely not atypical.

Speculators will continue to exploit people's paranoia, xenophobia and greed, so currencies will continue to fluctuate because that is how the banks and institutions are allowed to make their money Evil or Very Mad

wink
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Samerberg Sue wrote:
I believe that new customers at the Nationwide no longer have that little perk, if I remember correctly.


Dont panic, Nationwide customers do still have that little perk, they just took away the free charges on ATM withdrawls/purchases outside of the EU
As VISA charges a fee, which they pass on to you, it is currently 1.00%

Flexaccount Benifits

.
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http://www.citywire.co.uk/personal/-/news/money-property-and-tax/content.aspx?ID=379572&re=8261&ea=231107&ViewFull=True

Quote

The European Union, in particular monetary union and the euro, is facing its greatest test. And appears to be failing. The conflicting messages from leaders, finance ministers and economists came to a head yesterday as the fragility of its weakest link, Greece, was fully exposed. Just who is responsible for bailing out countries like Greece? Consider these statements yesterday, a day in which the value of Greek bonds plummeted

‘A few European nations are exhibiting dangerous weaknesses. That could have fatal consequences for all countries in the eurozone’ - Germany's economy minister Rainer Brüderle, who said there will be ‘no bail-outs’ for struggling debtors and no move to a ‘European economic government’.

‘It's quite clear that economic policies are not just a matter of national concern but European concern’ - José Manuel Barroso, European Commission president.

‘We are being targeted, particularly by those with an ulterior motive’ - George Papandreou, the Greek premier

‘Germany is not in a mood to be the deep pocket for what they consider profligate, southern neighbours’ - George Soros.

Eurozone partners are ready to ‘help’ Greece - source cited in French paper Le Monde

‘If Greece goes under that's a problem for the eurozone. If Spain goes under it's a disaster’ - Nouriel Roubini.

And then this morning: ‘No, Greece will not default. Please. In the euro area, the default does not exist,’ Monetary Affairs Commissioner Joaquin Almunia on Bloomberg TV.
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Got 1.14 here in the dolomites today at the Cassa Rural bank in town.
Not good, but can't see getting much better over in the uk.
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Wayne, It touched 1.15 today but retreated back to 1.142 now
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Traders bet $8bn against the Euro

This report from the Today programme this morning. Basically an eight billion dollar punt that the Euro will fall in value.

http://news.bbc.co.uk/today/hi/today/newsid_8505000/8505559.stm
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Samerberg Sue wrote:

Speculators will continue to exploit people's paranoia, xenophobia and greed, so currencies will continue to fluctuate because that is how the banks and institutions are allowed to make their money Evil or Very Mad
wink


Speculators actually continue to exploit rubbish politicians' flawed monetary policies. Its one of the reasons the pound is in such a rubbish position. That won't improve because people suddenly think Darling is doing a great job, its because what was people's safe haven for currency now appears to be in a worse state than the UK. To make matters worse, EU countries cannot repair the problems themselves, as they used to, they must tow the line set by the ECB. One policy for 27 nations.

The taxes in Germany may well be going back up soon, to stop Greece, Spain and Ireland from actually running out of money.

I'm getting ready for a summer/autumn swoop on an alpine apartment.
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ideas101, Hi, Are you any relation to Barry Scott of Cillet Bang fame ?
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BergenBergen, It is just link spam, ignore it.
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 You know it makes sense.
You know it makes sense.
bar shaker,

Quote:
The taxes in Germany may well be going back up soon, to stop Greece, Spain and Ireland from actually running out of money



Afraid not while we have a coalition with the FPD in it (that's the Lib-Dems to thee and me!). Toofy Grin But we have got some rather unfair tax by stealth introduced already by some of the state health insurance companies. Due to the policies of the CDU/CSU (Conservatives) there is not enough money in the pot for the health provision so everyone is being called on to pay a non-means adjusted 8 to 15 Euro per month extra charge to top this up. I'm lucky so far in that my insurance carrier has not applied it. It is being challenged in the Constitutional Court, so I guess they are saving my money by waiting for the outcome of that little exercise.

I notice that people here seem to have stopped including Italy in the so-called PIIGS group since a few interesting facts were posted. Sorry, but I really do think that most of you are dreaming if you think that the pound will ever regain it's value against the Euro or the Dollar. Both Dollar and Sterling were over-inflated in value, now things are re-adjusting to realistic levels. I have a vested interest in a return to that previous situation, but I am not holding my breath in anticipation like some of you guys seem to be! I cut my cloth according to what is available and accept it albeit grudgingly.

rolling eyes
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Evil or Very Mad Evil or Very Mad Evil or Very Mad Evil or Very Mad

Pound in new 10 month low to Euro today ...so far Skullie
Quote:


The pound has tumbled to a 10-month low as fears grow the UK will have a hung parliament in the upcoming election.

http://news.bbc.co.uk/1/hi/business/8543007.stm
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Boredsurfing, I think you mean 10 month low vs USD
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10 month low again everything up to and including the Peso. I'm stockpiling on wine, lager and tequila, should be OK for bitter and scotch. I'm also feeling pretty pleased that I ordered my last load of euros for this season on 25 Feb.
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The Euro will live on and get stronger.

The Greeks will be bailed out, Greece is a tiny euro country in the big picture of things.

The Portuguese have always been in a financial crisis so there is nothing new here , they have more experience than anyone on how to deal with a bad economy!

Spain will bounce back.


The UK's triple A rating is suspect

http://www.ft.com/cms/s/0/d1065cee-24d2-11df-8be0-00144feab49a.html

The euro is the official currency in 34 states and territories. Eight more will join in the next few years. Several others may join eventually. A further 25 peg their own currency to the euro.

The UK will eventually join according to your next governments business secretary. Very Happy

Sterling is in trouble

http://www.reuters.com/article/idUSLDE6200OW20100301?type=usDollarRpt
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Last years two ski trips exactly coincided with the Jan and March 09 lows in the Euro. My summer holiday was smack in the middle of the October low and now I'm due out in 2.5 weeks and it's on a massive slide again. Mad

Never, ever book your trips to euroland when I'm going. I'll keep you informed when I go away in the summer... Crying or Very sad
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Glad I got my Euros last week!
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stanton wrote:
The Euro will live on and get stronger.


Only if Germany stays in. If German taxpayers get fed up of funding bail outs and Germany leaves the Euro then what's left could be a bit of a mess!
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Quote:
Germany leaves the Euro


There is more chance of the US joining the euro than that happening Very Happy
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OK, Germany stays in the euro, renames it the 'mark' and kicks everyone else out. How's that?
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