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Euro on the way back?

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Euro on the way back?

Postby tonee » 12 Jul 2016 17:37

Significant rise today..fingers crossed!
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Euro on the way back?

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Re: Euro on the way back?

Postby Wee Stumpy » 12 Jul 2016 17:39

Yes just noticed - edging to 1.20 - much better!!
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Re: Euro on the way back?

Postby surreyboy » 12 Jul 2016 17:43

Perhaps the topic should more correctly be entitled 'Pound on the way back'
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Re: Euro on the way back?

Postby ASHTON » 12 Jul 2016 18:37

I,m so excited with this rise in the pound :shock: What if the brexiteers prove us 48% wrong. :-?
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Re: Euro on the way back?

Postby clive of payia » 12 Jul 2016 19:06

Oh just wait a few months and the Italian Banks will have to be bailed out, followed by the Spanish and Portuguese. Yes, I know the UK has an opt out from the Euro and subsequent Bailouts but that wont stop the corrupt Commissioners from demanding, repeat demanding a few millions from the UK before we leave.
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Re: Euro on the way back?

Postby Drambuie » 12 Jul 2016 20:32

ASHTON wrote:I,m so excited with this rise in the pound :shock: What if the brexiteers prove us 48% wrong. :-?


No if's about it in my mind, I am always proud to be British and no more so than the way the majority of voters shrugged off project fear.

Rome wasn't built in a day but watch this space.
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Re: Euro on the way back?

Postby Party-Jane.cy » 13 Jul 2016 07:21

Back up to just over 1.20 this morning 8)
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Re: Euro on the way back?

Postby Admin » 13 Jul 2016 08:57

Did anyone sign the online petition for a re-vote? 3 million have already, including me.

http://www.express.co.uk/news/uk/683115 ... ote-Remain


Look who voted for it, says it all.

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Re: Euro on the way back?

Postby RaynSue » 13 Jul 2016 09:49

Damn! Ran out of money and had to transfer some over a couple of days ago !!

So much for the FC Exchange email saying that the rate would worsen this week !

~x(
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Re: Euro on the way back?

Postby Tallulah Savage » 13 Jul 2016 10:05

ASHTON wrote:I,m so excited with this rise in the pound :shock: What if the brexiteers prove us 48% wrong. :-?


I very much doubt that some of the remainders will EVER be happy with anything to do with Britain's exit,currency, economy or anything else. Some people just want to wallow. Hopefully things will get better for everyone, we shall see. I remain in the glass half full camp! :mrgreen:
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Re: Euro on the way back?

Postby emgee » 13 Jul 2016 10:40

Time to move on, "Brexit is Brexit" British Prime Minister Mrs May.

Alan

Not the moving on Alan it is how some of us can now afford to live on Cyprus, the exchange rate and all, we will remain in the euro if we stay on the island, not certain now for many of us less well off..Jim
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Re: Euro on the way back?

Postby Drambuie » 13 Jul 2016 11:07

It's done and dusted time to move on.

The petition - set up before the vote - called for the government to create a rule that would trigger another referendum if neither side had more than 60% of the vote, and there was a turnout of less than 75%.

The referendum result fulfilled both criteria: 4% separated Leave and Remain votes and turnout was 71.8%, still the highest in a UK-wide vote since 1992.

But an official response from the Foreign and Commonwealth Office has denied the request, saying the result had to be “respected”.
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Re: Euro on the way back?

Postby Drambuie » 13 Jul 2016 11:26

RaynSue wrote:Damn! Ran out of money and had to transfer some over a couple of days ago !!

So much for the FC Exchange email saying that the rate would worsen this week !

~x(


They could be right even now, if The Bank of England cut interest rates or introduce quantitative easing this week, the pound will probably drop. Not good for some but very good for others.
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Re: Euro on the way back?

Postby juliesewell » 13 Jul 2016 11:55

Admin wrote:Did anyone sign the online petition for a re-vote? 3 million have already, including me.

http://www.express.co.uk/news/uk/683115 ... ote-Remain


Look who voted for it, says it all.

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Did you get the email yesterday?
You recently signed the petition “EU Referendum Rules triggering a 2nd EU Referendum”:
The Petitions Committee has decided to schedule a House of Commons debate on this petition. The debate will take place on 5 September at 4.30pm in Westminster Hall, the second debating chamber of the House of Commons. The debate will be opened by Ian Blackford MP.
The Committee has decided that the huge number of people signing this petition means that it should be debated by MPs. The Petitions Committee would like to make clear that, in scheduling this debate, they are not supporting the call for a second referendum. The debate will allow MPs to put forward a range of views on behalf of their constituents. At the end of the debate, a Government Minister will respond to the points raised.
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Re: Euro on the way back?

Postby ronk » 13 Jul 2016 12:09

Jeremy Cook - World First, Chief Economist. Issued 10.49 a.m. today.
for anyone who is interested:

"Sterling is into its 4th day of rallies this morning, its best performance for 2 months, as we get ready for change of the tenants of 10 Downing St.

Politics and stability have been rare commodities since the vote but the ascent of Theresa May to the Prime Ministership is the main booster of sterling. Of course, political risks still remain as we are no closer to knowing what relationship the UK will have with the EU, whether the Tory policy of austerity will survive or if we can expect a general election in the coming months.

We also have to think that the almost certain cuts in interest rates, that could begin as early as tomorrow, will negate this recent sterling strength.

There are still very real doubts in my mind that the Bank of England will cut rates tomorrow. The Monetary Policy Committee has been loathe to countenance a move into negative interest rates and that means that they only 50bps to play with. I personally think it would be very unwise for a central bank to fire its remaining rounds with little knowledge or certainty as to the size of the enemy it faces.

That is not to say that a hold in policy is a sterling positive; if they can't do it with rates or QE yet you had better believe that some form of forward guidance and jawboning will be deployed to help sterling on its way."

(50bps=50 basis points=0.5%)
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Re: Euro on the way back?

Postby Mike Strand » 13 Jul 2016 22:17

Down from 1.20 to 1.18 today. It will bounce up & down for some time before it steadies.
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Re: Euro on the way back?

Postby keving » 13 Jul 2016 23:30

There is opinion that the £ will fall to parity with the $.

Where will that leave the £ relative to the euro?
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Re: Euro on the way back?

Postby Lofos-5 » 14 Jul 2016 07:54

Slowdown: Britain battles Brexit effects

A recession looms in the second half of the year. Planning applications (necessary for construction work) are down; employers are cutting back on hiring. The Bank of England, hints its governor, Mark Carney, will loosen monetary policy over the summer. It may start today: some economists are expecting a cut in interest rates from 0.5% to 0.25% after the monetary-policy committee meets. The markets will jump around. But don’t read too much into the decision. With rates already at historical lows, still-looser monetary policy will do little. Fiscal stimulus would help, and the new prime minister, Theresa May, has sounded keen on the idea. The goal of reaching a budget surplus by 2020 has already been junked. But with the deficit already at 4%, room for manoeuvre is limited. More helpful would be clarity on Britain’s future relationship with Europe. That, however, may be a long time coming.

From today's Economist expresso
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Re: Euro on the way back?

Postby flybynite » 14 Jul 2016 08:34

why has this thread been moved.1000s of pensioners will be interested in this thread as the movement of sterling etc

Phil the tread has NOT disappeared it is here as you have replies to it., but we cannot have threads on religion or politics in the main forum, see section 5 of your membership terms.

Because it is political thread, do you find it difficult to look at other sections on CL? it is not hard to do, and I am one of those pensioners have been for fifve years. Jim
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Re: Euro on the way back?

Postby clive of payia » 14 Jul 2016 08:45

You have to wonder now that the peoples of the UK have clearly voted to leave the EU, just how more impoverished, uncompetitive and undemocratic does the EU have to sink down to before even the Remainers join in and support leaving. My guess is that the hard lefties will keep supporting the EU until it reaches the level of the USSR, and you know what happend to that empire. But of course they have the comfort of knowing that if they are wrong they have the safety net of an independent UK to fall back on.
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Re: Euro on the way back?

Postby lewisestwo » 14 Jul 2016 11:00

She's been PM for nearly 24 hours !!!!!!! Why nothing on the EXIT yet ?!?!?!?!?!? :mrgreen:
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Re: Euro on the way back?

Postby Jim B » 14 Jul 2016 12:07

clive of payia wrote:You have to wonder now that the peoples of the UK have clearly voted to leave the EU, just how more impoverished, uncompetitive and undemocratic does the EU have to sink down to before even the Remainers join in and support leaving. My guess is that the hard lefties will keep supporting the EU until it reaches the level of the USSR, and you know what happend to that empire. But of course they have the comfort of knowing that if they are wrong they have the safety net of an independent UK to fall back on.


I wouldn't think 36% is a clear vote to leave the EU; just shows how undemocratic our democratic system is and also the number of voters to remain were not all "Lefties" but people with views across the broad spectrum of politics. The majority of the younger generation wanted to stay in the EU; people of senior years who voted for a Brexit stole their future though no doubt are of the opinion that they know what's best for young.
My wife's family are children of the USSR and the older generation look back with nostalgia of what once was whereas the young are happy to throw off the yoke of Communism and are free to travel and work and live in other countries; something we voted away for our young on the 23rd. June
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Re: Euro on the way back?

Postby Jim B » 14 Jul 2016 13:59

He's a good old fallback though Keith. when all else fails.

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Re: Euro on the way back?

Postby Drambuie » 14 Jul 2016 14:05

Pat you don't pull your punches, Excellent.

I am the father of two and firmly believe that to Brexit is in their best interest. Not necessarily my best interest but there are more important things in life than me.
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Re: Euro on the way back?

Postby Jim B » 15 Jul 2016 09:02

Keith.

So 48% of the population are an arrogant progressive minority according to him and the other 52% are the saviours of Democracy; right!!!!!!!!!!

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Re: Euro on the way back?

Postby Jim B » 15 Jul 2016 11:41

McIngy1 wrote:I think you'll find he was referring to those that refused to accept the vote as the arrogant progressive minority :roll: Their branding of the 52% majority eminently qualifies them to be referred to as such. ?


Which is about 48% of those who voted to stay. so I must be one of the arrogant progressive minority as well :roll:

Greece has been a basket case since the second world war; even before they joined the EU. I've been in exactly the same position as the unemployed and do have empathy with them rather than just being sympathetic like many. I struggled through and personally know how difficult it is so I don't need lectures about it; I have first hand experience of it.
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Re: Euro on the way back?

Postby clive of payia » 15 Jul 2016 12:05

Many of us who voted to Leave have made repeated requests from the Remain side for the compelling arguments as to why we should stay in the EU. Where are they? We can all agree that joining the euro would be financial suicide. Can't we?
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Re: Euro on the way back?

Postby juliesewell » 15 Jul 2016 13:11

Alistair Campbell seems to think a Second Referendum is a good idea ;)

Former No 10 director of communications calls on Theresa May to hold a second referendum on Britain’s membership of the European Union


https://www.theguardian.com/media/green ... CMP=twt_gu
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Re: Euro on the way back?

Postby juliesewell » 15 Jul 2016 15:27

Tell that to Alistair Campbell :D
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Re: Euro on the way back?

Postby keving » 15 Jul 2016 15:33

What I don't understand, whatever the reasons for high youth unemployment in Greece, is why it exists at all.

Surely with freedom of movement there is nothing to stop Greek unemployed youth from coming to the UK for work?

Given that English is widely spoken by Greeks, especially younger Greeks, why isn't it the case that the figure for Greek youth unemployment hasn't been significantly dented by immigration to the UK?

If Poles, Romanians, etc can find their way to the UK for work, why not Greek youth? Surely better to be earning something in the UK, and transmitting something back to their families, rather than sitting at home twiddling their fingers?
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Re: Euro on the way back?

Postby keving » 15 Jul 2016 15:41

Then it is indeed good that the UK has done its bit to support freedom of movement :-)

But perhaps it would have been better had Greeks studied German at school instead of English ...
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Re: Euro on the way back?

Postby Firefly » 15 Jul 2016 16:43

Don't know about anyone else, but my email 'in box' is bombarded every day by the remain camp, personally I'm sick of them. To those in the remain camp, stop complaining, life's too short, accept the majority vote, if you don't like it leave Britain, oh yes, some already have.

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Re: Euro on the way back?

Postby Jim » 15 Jul 2016 19:15

And Jackie you stop going on about how good it is to leave, not so funny when you get your state pensions from the UK exchanged to the euro, do not forget we have not left the EU here on Cyprus please..this site may I remind all is called......Oh and I have left Britain thankfully.

Re your mail in box, I had the same from UKIP until I threatened them , do the same.
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Re: Euro on the way back?

Postby Firefly » 16 Jul 2016 11:27

Jim, I appreciate your opinion, but I'm surely not the only CL member with the same opinion as me ? You are thankful to have left Britain, so was I when I left for Cyprus, but when I needed my country, it was still there for me. warts and all.

Jackie I value your input to CL but please remember it the site is about living on Cyprus, we are still in the EU and my guess is we will not be having a leave referendum any time soon, so we live with being in the EU, we do not live in the UK this was your choice, my choice was to live here for the remaining time of my life, please respect this, as CL is a Cyprus forum. Jim

I do not open the mail sent by the remainers, I just delete them, strange though, I never had any from UKIP.

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Re: Euro on the way back?

Postby juliesewell » 16 Jul 2016 14:08

I voted to Remain and I'm feeling very left out.... haven't had any emails from Remainers, Brexiters or UKIP.

So, that means they've got your email address from somewhere that you have visited or entered it.
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Re: Euro on the way back?

Postby keving » 16 Jul 2016 14:12

I too have not received any emails from any one or any organisation at all in connection with Brexit. Not a single email.

Should I widen my circle of friends?
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Re: Euro on the way back?

Postby Firefly » 16 Jul 2016 15:43

Jules, do you have a new email address now that you have returned to the UK ? maybe that's the reason.

I suppose if you have a Cypriot email address, Keving, I wouldn't think that you will be receiving any. Only you know if you need more friends ;)

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Re: Euro on the way back?

Postby keving » 16 Jul 2016 15:58

Jackie, could you cut and paste one of these many emails that you have received from the remain camp (delete your email address of course) and post on here. I'm sure not only I, but many others, would be very interested to see the content of one of these emails.
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Re: Euro on the way back?

Postby juliesewell » 16 Jul 2016 17:41

"Firefly" Jules, do you have a new email address now that you have returned to the UK ?

No, I have a number of email addresses which I've had all the time whilst in Cyprus and again on return to UK. The only emails I receive are the confirmations/updates where I've signed into petitions such as WASPI and the Brexit 2nd Referendum.
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Re: Euro on the way back?

Postby explodingaardvark » 16 Jul 2016 20:04

Julieswell,
Alistair Campbell seems to think a Second Referendum is a good idea

Alistair Who? Does he have more than the one vote the rest of us have?
Tell him explodingaardvark thinks the referendum is done and the people have spoken, so he can shove his idea of a second referendum where the sun doesn't shine.
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Re: Euro on the way back?

Postby Firefly » 17 Jul 2016 15:44

Keving

I already posted that I don't open them, but when I next receive one, I will post the subject that it is headed with for you so that you can research it. I cant imagine who else would be interested but you never know.

Jules, it's all very odd, but some people are intent on overturning a democratic vote, come hell or high water.

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Re: Euro on the way back?

Postby Jim » 18 Jul 2016 06:09

"Jules, it's all very odd, but some people are intent on overturning a democratic vote, come hell or high water. Jackie."

Really who? it was a very close vote and as I posted if it was a week later knowing what the UK now knows it would not have been a leave vote for sure, probably the worst self inflicted vote of all time in the UK..

I really have accepted the democratic leave vote but too many folks think this was all wrong, looking in from outside of UK politics it has been a disaster, as one who relies on exchange rates it is a disaster for me and my dependants, no flippant comments about those who wished to remain in the EU.

My wish now is for this to be all forgotten, and hope the £ recovers enough for us to have a living pension, we do not all have deep pockets! but lets all move on with our lives and just take the consequences of this leave vote, as many say this is democracy of some kind or another.

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Re: Euro on the way back?

Postby MacManiac » 18 Jul 2016 08:07

It's fascinating the way this topic will not die. Those who voted to leave the EU appear a little triumphalist on some forums, whilst those who voted to remain are refusing to accept that a decision has been made.

I suspect there is a long way to go and that things will not be finalised until the day the UK leaves the EU, if it ever does. So many vested interests (institutional and individual) will push and shove and scheme to have the referendum reversed, and the narrow majority will say "Move on" and the rather inelegant "End of".

The negotiations (especially the unofficial ones behind closed doors) will decide what the government will eventually do. Lots of hot air about mythical trade deals in the future, and threats from the UK that EU immigrants (who can legally enter the UK until the day the UK leaves the EU) after a certain date may be sent back. Tough talk but hardly guaranteed to facilitate the important discussions that lie ahead. This is similar to Farage being so rude and objectionable in the EU parliament recently.

The thing that so many people seem to have forgotten is that the UK is not an indispensable part of the EU, in the same way that British expats are not indispensable to the economies of the countries in which they live. Important ... of course ... but indispensable? Politics and Economics are entwined. Economics has to do with money and finance and trade, but politics often has to do with the ego and self-esteem of the politicians involved. Common sense suggests that there can be no deal with the EU over trade without the free movement of its people. Compromise may be possible but the "red lines" are there for all to see.

I read many worthy posts on forums from people who benefit from the free movement of people but who voted to leave for the good of the children or grandchildren, or for sovereignty, or to lessen the impact of immigration. Many tend to forget that without immigration, without the taxes the immigrants pay, the goods and services they buy, then the whole structure of the country will implode. The ageing population of many Western European countries demands that immigrants are granted entry to pay for the pensions and other benefits of the Welfare State, which is why Angela Merkel opened the door to immigrants. Germany needs those immigrants as much as the UK. To pretend otherwise is to close one's eyes to the economic reality of the situation. Never mind the "turkeys voting for Christmas" analogy ... just picture ostriches with their heads in the sand.
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Re: Euro on the way back?

Postby coggle123 » 18 Jul 2016 08:39

Morning MacManiac,

Excellent Post, well said :ymapplause:
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Re: Euro on the way back?

Postby MacManiac » 18 Jul 2016 10:36

I didn't mention uncontrolled immigration. Immigration from the EU and immigration from the rest of the world are two different things. The UK theoretically controls non-EU immigration and has no control over EU immigration. The fact that the UK appears to be a magnet to immigrants is connected to the relative strength of the UK economy, and to the perceived generosity of the Welfare State. I appreciate that EU immigrants have the same rights to benefits as UK citizens ... no more and no less. There is a popular fallacy that immigrants are able to access these benefits more easily than UK citizens. That is very much in the control of the UK government. Whether they do anything about it is debatable.

Most Immigrants work, pay tax, national insurance and benefit the economy. With the minimum wage (or whatever it is called now) no UK citizen should be priced out of work. Whether British plumbers are prepared to work for the same price as Polish plumbers, and be as reliable (if they are), is the key issue. Why, for example, is the British coal mining industry all but vanished, despite the oft-repeated claim that there is three hundred years' of coal in the ground? Before all the class warriors wade in, economically it is because coal miners outside of the UK had lower wages and therefore the coal they produced was cheaper than British coal. An unpalatable economic truth, I'm afraid.
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Re: Euro on the way back?

Postby MacManiac » 18 Jul 2016 11:00

How many British people therefore can make that contribution of £40,000 a year? Are our pension and other benefit systems not a Ponzi scheme? Pension black holes in public and private schemes exist, do they not? I am not suggesting that the system is perfect (far from it) but the immigrants are here and are not going home anytime soon.

I remember a chum who emigrated to Spain a few years ago. His job folded and he was unable to claim any benefits at all, until he had paid into the system for X years. I presume that this is the same for Spanish workers. We have put a system in place to which people in the system are entitled, but which the country cannot afford. The answer to this - as in Germany's case - was to welcome immigrants (not quite what Tony Blair et al had in mind) and so widen the base.

If the UK stopped borrowing more money a year than I can get my head around, and paid the benefits and provided the services it could actually afford, then the Ponzi scheme would be less pronounced than it is. What is the average UK wage? If memory serves it is about £27,000 a year. Rather less than what you quote for the contribution people must make to balance the books. If I had the answer, then it is likely I would be in No 10 now ...
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Re: Euro on the way back?

Postby MacManiac » 18 Jul 2016 11:59

Not being an economist makes life simpler. In terms of indebtedness, the UK is in a dreadful mess and the standard of living seems inflated beyond belief by the fact that the country, and many of its citizens, borrow more than they can afford. This gives the people an artificial sense of wellbeing (relatively speaking), and the services the government provide (by borrowing) leads to the belief that all is well.

One day soon the whole edifice may well crash. I sincerely hope it does not but risking the revenue the City of London contributes to the economy may well be the final straw. We'll look back on these days as ... freedom or disaster ... and rejoice or regret the events of the last few weeks.
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Re: Euro on the way back?

Postby MacManiac » 18 Jul 2016 14:21

McIngy1 wrote:Not sure which edifice you are talking about- the one that is trying to do something about it's problems but can't (the UK) or the one that could do something about it's problems but won't (the EU)


The UK ... "to be sure", as the Irish say
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Re: Euro on the way back?

Postby Jim » 02 Aug 2016 10:42

On the way back...seriously? today it is at a Brexit low of 1.17 to the euro, for those who have pensions as most of us do it is a disaster for many folks who do not have deep pockets as of course many of us do not..

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Re: Euro on the way back?

Postby Firefly » 02 Aug 2016 12:21

I well remember parity a few years ago, that was bad, and without Brexit ;)

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