2%

[Slim]

It isn't though. Quite simple, the Pound has lost massively on the open parket to virtually ALL other currencies, most importantly the Dollar and the Euro.

 

 

Hardly, look at the Ozzy dollar vs the euro, or the Krona.

[Cambon]

Hardly, look at the Ozzy dollar vs the euro, or the Krona.

 

The Austrailian dollar is not a major currency.

 

The point is all the other countries and economic areas with large economies, who are suffering due to the current financial problems are in situations where their currencies are increasing in value. Only the UK is losing on both the stock markets AND currency markets.

[pongo]

Euro now at 86.5, a year ago 73.5, 2 years ago 67.1 (67-73 is about normal).

 

There is no 'normal' with currency prices and, in particular, with respect to the price of the Euro. The Euro is much too young for that. Britain was experiencing rare but unsustainable boom compared with much of the Eurozone during most of the time since the Euro was launched. The Euro was under valued.

 

It's stupid to try to call market numbers - but sometimes it's fun. So my guess is that sterling will be abolished at about 96c. And Britains will thank them for being so generous.

 

Many people, even in Britain, have already partially adopted the Euro. Some posh shops already price goods 1st in Euro.

[Ringwraith]

Always a frown with Gordon Brown

 

http://uk.youtube.com/watch?v=K49FVMBOLr4

[pongo]

Always a frown with Gordon Brown

 

http://uk.youtube.com/watch?v=K49FVMBOLr4

 

That's so lame. Comedy songs are never funny. Not ever.

[Albert Tatlock]

Always a frown with Gordon Brown

 

http://uk.youtube.com/watch?v=K49FVMBOLr4

Can't wait for the release of 'Gordon is a moron'.

[Cambon]

It's stupid to try to call market numbers - but sometimes it's fun. So my guess is that sterling will be abolished at about 96c. And Britains will thank them for being so generous.

 

Many people, even in Britain, have already partially adopted the Euro. Some posh shops already price goods 1st in Euro.

 

Yep, that is labour's dream and the british public will pay for the mistake for decades to come.

 

However, your comments about the Euro being undervalued are totally wrong. It may have been correct prior to the eastern block countries joining the EU but it is far from the truth now.

 

Of course shops price in both pounds and euros. It is an easy way to make extra profit.

[pongo]

It's stupid to try to call market numbers - but sometimes it's fun. So my guess is that sterling will be abolished at about 96c. And Britains will thank them for being so generous.

 

Many people, even in Britain, have already partially adopted the Euro. Some posh shops already price goods 1st in Euro.

 

Yep, that is labour's dream and the british public will pay for the mistake for decades to come.

 

It's nothing to do with Labour. As many Labour idiots as Tory idiots are opposed to the Euro. Mr Brown is opposed, for example.

 

It is no more a mistake for Britain to be part of the Euro - than it is for, say, for Truro and Glasgow to have the same currency, interests rates etc. Nobody ever argued that it would make good sense for different parts of the UK to have different currencies - though there was certainly a good economic case during most of the past 30 years - when different parts of Britain were experiencing very different economic conditions.

 

However, your comments about the Euro being undervalued are totally wrong. It may have been correct prior to the eastern block countries joining the EU but it is far from the truth now.

 

Sensibly, the markets disagree with you.

[Lee54]

ITV news report that the Banks wont be passing the latest interest cut on to customers as Banks have a clause built in on a lot of their loans including Trackers. The clause is triggered to protect Banks minimum operating level of 3%

[GD4ELI]

There is no 'normal' with currency prices and, in particular, with respect to the price of the Euro. The Euro is much too young for that. Britain was experiencing rare but unsustainable boom compared with much of the Eurozone during most of the time since the Euro was launched. The Euro was under valued.

20 years ago you got 3 Swiss francs for 1 pound, now you get 1.75 francs. Apart from the Deutschemark the Swiss franc is the most stable European currency over the last 25 years.

 

The pound has only ever gone in one direction - down.

[Slim]

The Austrailian dollar is not a major currency.

The point is all the other countries and economic areas with large economies, who are suffering due to the current financial problems are in situations where their currencies are increasing in value. Only the UK is losing on both the stock markets AND currency markets.

 

And the Krona?

 

Why don't you give me some examples of countries that are doing so well vs the euro and dollar? This is a worldwide problem, the eurozone dropped interest rates too today, as did sweden. The UK's not doing great, I admit, but many of the mistakes have been worldwide and aren't just the UK governments fault.

 

 

Table of SVR's so far following the cut:

http://news.bbc.co.uk/2/hi/business/7764690.stm#TABLE

[Slim]

The pound has only ever gone in one direction - down.

 

Not true

 

http://www.x-rates.com/d/CHF/GBP/hist2006.html

[thebees]

It is most annoying, the more you spend and the more debt you are in the better off you are, it is ludicrous. Savings are not worth having and your morgage is cheaper than a bag of chips, FFS. It can not last but I have been saying that about the 'debt' society for ages now and all the goverment seem to do is 'put a sticking plaster over a burst artery' and throw money they have not got at banks....ahem.

[b4mbi]

It is most annoying, the more you spend and the more debt you are in the better off you are, it is ludicrous. Savings are not worth having and your morgage is cheaper than a bag of chips, FFS. It can not last but I have been saying that about the 'debt' society for ages now and all the goverment seem to do is 'put a sticking plaster over a burst artery' and throw money they have not got at banks....ahem.

 

 

wish my mortgage was cheap as a bag of chips.... £1.20 for a house seems very reasonable

 

 

it is crazy though, everyone who has been prudent and saved throughout their lives has been screwed over in terms of trying to live off the now paultry returns on their savings, whilst those who have splurged and been anything but prudent taking out unaffordable debt are getting a reprive....

 

Doesn't seem right somehow...

[Sneak]

doom and gloom for investments and pensions though

 

Good job I don't have any money to invest.

 

I do have a mortgage tho - 2.69% - woopeee.

 

For those who are on a Tracker Rate - what are you all doing? I mean....are you going to overpay your mortgage, in order to shorten it in the long run, or just pay as little as you can now in order to save whatever a month? If you can afford to overpay its probably a good idea.