Euro rate at moment. |
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vinnym
Newbie Joined: 05/June/2012 Location: UK Status: Offline Points: 81 |
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Will probably rise again at the mention of the next euro crisis, which could be anytime
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DICEYUK
Top Contributors Joined: 05/April/2011 Location: Norfolk/Algarve Status: Offline Points: 3381 |
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After another 2 days of decline it looks to have bottomed out at around 1.17 and it's showing a very small increase this morning (average online tourist rate at around 1.14)
Looks like it's going to be a long haul back up to 1.20 & I doubt if we'll see the heady heights of 1.28 again for a very long time. |
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I hate how peopleï compare Frank Zappa to God. I mean, he's cool and great and nice and everything, but he's no Zappa.
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cubsur
Moderator Group Joined: 26/January/2006 Status: Offline Points: 26450 |
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Back on Euro track and it's another ice cream off the list for the children. Rate here yesterday for cash down to 1.127
The drop in the rate is now almost 7 cents in a month. |
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Albufeira Resident
www.algarvebus.info public transport information for the Algarve |
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pyrman
Top Contributors Joined: 06/December/2012 Location: Kilmarnock, Sco Status: Offline Points: 1124 |
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Tonisdad, we are now well off the `euro` track ... I certainly hope the pound does better, however unlikely that may be. |
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Pyrman
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tonisdad
Senior Member Joined: 24/November/2010 Location: United Kingdom Status: Offline Points: 1060 |
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Jayjan, exactly we`ll dish money out to them which will all on go weapons. Those self same weapons will no doubt end up in the long run being used against our own forces.
Bedlam completely right and we will no doubt keep throwing more money at never ending conflicts. |
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Bedlam
Senior Member Joined: 10/April/2012 Status: Offline Points: 657 |
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No doubt under the guise of protecting us all from the threat of terrorism. If they had pumped all the m(b)illions that this red herring has cost (and the cost of Blair's War) into seriously funding UK Border Control every dodgy visitor to UK could possibly have had a personal chaperone for their stay...... |
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Jayjan
Top Contributors Joined: 21/November/2006 Status: Offline Points: 7400 |
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a bit off topic Paul but did you see BBC news today re UK giving another 21million aid to the Syria conflict, so far it has now cost us UK taxpayers 89.5million. We would be a damned site richer country if we didn't keep giving money away willy nilly to who-ever. Are we a soft touch, yes I think so.
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Polli the dancing cat strikes again.
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tonisdad
Senior Member Joined: 24/November/2010 Location: United Kingdom Status: Offline Points: 1060 |
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Pyrman when you are saying:
your quote Incidentally the EU produced 25% of the World`s GDP (2011) I think you are getting confused between between the "Euro area" commonly known as the "Eurozone" and the European Union. Out of 27 European Union members only 17 use the Euro. So the 25% of world GDP produced by the EU was contributed to by 10 countries that don`t use the Euro including us. Take Germany France the Netherlands out of the Euro area and it would be in a very poor state as these economies are propping the rest up. When you are on about the European Union thats a bit like the current benefits system in UK it`s getting to the stage where there is not going to be enough taxes paid to pay for the hangers on. The best thing the UK could do is bale out of the European Union altogether and stop bankrolling them and if Scotland wish to go it alone in or out of the Euro good luck to them. There is one thing for sure if we were out of the E.U. and were not bank rolling them and throwing money at all their immigrants......I still have not got my head around why they all head over to England if it`s in such a poor way....... the pound would be a lot healthier as we could concentrate on channeling the money into our own economy and our own people. |
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pyrman
Top Contributors Joined: 06/December/2012 Location: Kilmarnock, Sco Status: Offline Points: 1124 |
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Tiganut, I`m afraid you are confusing a number of different economic issues.... as you may deduce from my reply to Tonisdad. Exchange rate is primarily related to Trade ... not to how big or powerful a country is. USA is by far the most powerful economy ... its people earn far more per head than in Europe. Yet, the dollar is essentially weakened by their Trade deficit and huge Government debts, certainly due in no small measure to their military disasters .. much like UK. If you take this general argument on board .... then Europe can only get better... USA and England can only get worse ... and euro can only gain against both pound and dollar, longer term. EU contributions are based on GDP, where Germany are strongest, followed now by France, UK, Italy, Spain, Holland, Sweden, Poland, Belgium, Norway, Denmark, Greece, Finland, Portugal, Ireland, Czech Rep .... Incidentally the EU produced 25% of the World`s GDP (2011). For Tonisdad an addendum ... http://en.wikipedia.org/wiki/Economy_of_Scotland ... around 12th in the EU. |
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Pyrman
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pyrman
Top Contributors Joined: 06/December/2012 Location: Kilmarnock, Sco Status: Offline Points: 1124 |
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Tonisdad, I`m trying to stick to the `euro rate` here. Clearly .... beyond question ... it has been far more stable than the pound or the dollar since its inception, bar the recent nonsense of the central bank not supporting members borrowing ... like the Credit Union it has now virtually become. As for `investment` ... you only have to take the rate difference in 10 years, where the pound has fallen THIRTY-NINE per cent against euro. That speaks for itself ... The exchange rate will always be more related to balance of payments ... where the USA and England are not so good in the past 20 years or so. Europe has struggled with efficiency and productivity for some time, because we have the task of getting around 20 countries up to reasonable modern speed, diverted in part by the silly building boom in Southern parts. Good government is important and regardless of your opinions on Portgual, Ireland, etc, neither the UK or US has that either ! I`m just hoping Scotland finds a better one than it currently has ... Scotland exports large amounts of energy to England, Potatoes, agricultural products, Wood, Coal, Stone, Cloth, Fashion items, bottled Water, probably into the millions of products ... Computer games are a recent strongpoint. Despite being swamped by stuff from Chine, etc, these will always far outweigh imports in value. OECD (the economic organisation for europe) estimated recently Scotland should be in the top five richest countries on the continent. |
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Pyrman
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tiganut
Top Contributors Joined: 29/July/2009 Status: Offline Points: 2010 |
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The rises will be just as small.
I have said it before,but wiill say again,I our economy is so weak,why are we one of the biggest nett contributors to the European circus? & why is the Pound so weak against the Euro?
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He Who Dies With The Most Toys Wins
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DICEYUK
Top Contributors Joined: 05/April/2011 Location: Norfolk/Algarve Status: Offline Points: 3381 |
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Fair enough but it's gone down another "fraction of one percent" this morning - currently at 1.171. Fractions of one percent are fine in isolation but fractions of one percent over an extended period soon add up. From 1.235 on 1st January to 1.17 on the 25th of January (circa 5%) is a big enough drop whaterever you're buying. |
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I hate how peopleï compare Frank Zappa to God. I mean, he's cool and great and nice and everything, but he's no Zappa.
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tiganut
Top Contributors Joined: 29/July/2009 Status: Offline Points: 2010 |
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Its gone down by a fraction of one percent,unless you are buying an hotel it is not going to make a great deal of difference.
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He Who Dies With The Most Toys Wins
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DICEYUK
Top Contributors Joined: 05/April/2011 Location: Norfolk/Algarve Status: Offline Points: 3381 |
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Dropping like a stone at the moment, gone down nearly a whole cent this morning. They obviously don't like what Cameron has said about a referendum.
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I hate how peopleï compare Frank Zappa to God. I mean, he's cool and great and nice and everything, but he's no Zappa.
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tiganut
Top Contributors Joined: 29/July/2009 Status: Offline Points: 2010 |
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Hey,we bought ours at Easter in 2006,does this make me George Soros?,no just lucky,but there again it was right at the height of the market,so stupid or unlucky?
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He Who Dies With The Most Toys Wins
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