Latest posts for the topic "The £ is growing stronger."

The £ is growing stronger.

Sun, 15 Jan 2012 18:55:34 GMT

After France having it's credit rating lowered, I thought I'd have a look at the exchange rate. To my delight I saw that the GBP is now worth over 1.2 euros.

Good news for many of us snow sports enthusiasts! :D

Re:The £ is growing stronger.

Sun, 15 Jan 2012 20:19:41 GMT

Yay!

Re:The £ is growing stronger.

Sun, 15 Jan 2012 20:46:23 GMT

Yes brilliant news. Do you think it will rise to what it once was?I seem to remember it once being 1.6 something..... I'm no economist but I'm surE all these problems with Greece and the euro zones etc can only add strength to the pound against the euro......

Re:The £ is growing stronger.

Sun, 15 Jan 2012 21:23:58 GMT

1.45 was the best I ever got.
But 1.2 is as high as its been for a long time. Just good timing for my trip next week.
Now, cash or card????

Re:The £ is growing stronger.

Sun, 15 Jan 2012 21:37:26 GMT

Tony_H wrote:1.45 was the best I ever got.
But 1.2 is as high as its been for a long time. Just good timing for my trip next week.
Now, cash or card????

Your best bet is cash if you wanted the set rate I find travel ex usually offer the best rates. It's ok paying by card but the risk you take is if it drops for any reason then your rates will fluctuate. But that said depending on what your buying ie a meal out or a day pass etc its hardly going to be noticeable anyway.....

Re:The £ is growing stronger.

Mon, 16 Jan 2012 08:33:18 GMT

It doesn't compensate for the prices charged in some of the French resorts ...1ltre milk Euro2 Baked beans Euro1.90...fresh chicken Euro21/k etc

Re:The £ is growing stronger.

Mon, 16 Jan 2012 09:13:00 GMT

I was hoping they'd let Greece default and have great joy in watching the Eurozone spiral into oblivion. I'd have been looking at chalets, let alone beans and milk!

Re:The £ is growing stronger.

Mon, 16 Jan 2012 10:01:11 GMT

well there was cheap accommodation in la Plaggne
Euro26000.......for 18sq metres

Re:The £ is growing stronger.

Mon, 16 Jan 2012 10:20:07 GMT

daved wrote:well there was cheap accommodation in la Plaggne
Euro26000.......for 18sq metres

And I thought a GBP20,000 13sq m garage in East Sheen was a rip off!

Re:The £ is growing stronger.

Mon, 16 Jan 2012 18:17:46 GMT

Unfortunately the pound is almost completely tied to the euro due to the uks total reliance on exporting to the euro zone. So very unlikely a big gap will open up. The pound will go down with the euro.

Re:The £ is growing stronger.

Mon, 16 Jan 2012 19:08:55 GMT

Unfortunately the pound is almost completely tied to the euro due to the uks total reliance on exporting to the euro zone. So very unlikely a big gap will open up. The pound will go down with the euro.

I am not so sure. It was not that long ago the rate was about 3:2 ie 1.60 and we were still exporting to the EU then. I see the Euro weakening more until the Greek, Portuguese, Irish, Spanish and Italian situation sorts itself. If they all go the Euro will probably collapse and they will all return to the Deuchmark and Franc ). If it get stabilised I expect the rate to sort itself around what it is now....there is little confidence in the money markets re the euro at present.

Re:The £ is growing stronger.

Mon, 16 Jan 2012 19:52:47 GMT

If the euro fails, and France went back to the franc what would that mean in regards to the pound. Ie would we have better value than what it is now with the euro? I seem to recall yrs ago when Spain was the peseta you got much better value against the GBP......

Re:The £ is growing stronger.

Mon, 16 Jan 2012 21:37:19 GMT

If the Euro goes, some currencies such as the new Mark may well be strong currencies. Finding levels at which exports from Germany are hit by the strength of the Mark until an equilibrium is found.
(In some ways Germany has made the greatest benefit from the Euro in that the costs of its exports have been kept relatively low because concern over the Southern countries has prevented the Euro climbing to the point that German goods are priced out of the market)

The new Lira & Drachma will probably fall given that historically Greece has, in particular, printed money to cover costs. I guess to an extent that is what a lot of countries are doing as a short term measure - call it quantitative easing if you like, including the UK - it helps stop the Pound rising to the point that exports are hit and more jobs are lost.

I guess the markets are betting that's what will happen with the Euro - a lot will need printing to rescue Greece and perhaps others. The richer Euro nations don't want to do this as it devalues their own wealth but ultimately simply lending money to the weak economies probably just increases debt which they already can't afford and austerity measures needed would be politically catastrophic.

How will it affect skiiers in the UK if the Euro goes? Germany more expensive, Switzerland probably less so. Austria - uncertain. Italy probably a bit cheaper. Spain probably cheaper. France - who knows what value a new Franc would have but the more it falls the more they will up the prices (at least to foreigners - the locals will no doubt have discount vouchers)

Re:The £ is growing stronger.

Mon, 16 Jan 2012 21:40:46 GMT

Are people forgetting France has been downgraded but the UK still has the highest possible rating?
Until that changes, the GBP won't go down just because the Euro has