1 Euro will now set you back 86p

[Gritt23]

Purely a function of the relative interest rates. If we are happy that interest rates are dropped, then we must accept that investors will desert the £sterling for more advantageous rates elsewhere. That shift of funds out of £sterling will drop the exchange rate.

What's bad news for importers is great news for exporters.

 

[Rusthall Seagull]

Why am I not surprised.

Red Wedge here we come so blame Maggie as usual and forget the billions of prosperity due to modern day thinking like privatisation.

are you taking the piss ?

 

[One True BHA]

Oh..

My pay has increased by 11.8K GBP in one year since i work abroad, not bad for a graduate after the first year.

that's because you live in luxembourg?

 

[saafend_seagull]

yeah for a few years, just need to cash in on my euros

 

[One True BHA]

good times for you.

 

[sten_super]

Purely a function of the relative interest rates. If we are happy that interest rates are dropped, then we must accept that investors will desert the £sterling for more advantageous rates elsewhere. That shift of funds out of £sterling will drop the exchange rate.

What's bad news for importers is great news for exporters.

That is true, but it's also true that we are likely to be worse hit than the rest of Europe and the USA. The vast majority of output growth in recent years has been driven by ever-increasing consumer expenditure, as a result of ever-increasing availability of credit. Now that the credit is no longer available (and banks are calling it in) it follows that we will suffer probably the deepest recession.

 

[Beach Hut]

are you taking the piss ?

No way, always the lefties blame Maggie whereas her policies have bought a lot of wealth to the UK

 

[NMH]

Not at all. A weak pound encourages British exports and creates jobs in the UK economy that will lead to much improved prosperity all round.

At least that was the theory until Thatcher dismantled the manufacturing sector and reshaped the economy to rely on the success of service industries such as .. er .. banking.

And since thatcher, haven't our major manufacturing industries been sold off to foreigners anyway?

 

[NMH]

No way, always the lefties blame Maggie whereas her policies have bought a lot of wealth to the UK

Yes, and I'm sure all of the hard-working people will attest to that, with their comfortable living standards and extra spending money.
If not, why not? It must be, surely?
We ARE all rolling in it, aren't we??

 

[Beach Hut]

And since thatcher, haven't our major manufacturing industries been sold off to foreigners anyway?

Yes because we demanded too higher wages so we moved to more profitable industries like banking / service sector / IT etc

 

[El Presidente]

What's bad news for importers is great news for exporters.

It would be except we don't produce anything to export.

 

[k2bluesky]

The perilous state of the UK economy is largely down to that f***ing half wit Brown who as chancellor showed all the 'prudence' of a five year old in a sweet shop, no f***ing idea except spend, spend, spend to make himself popular. The UK was warned several years ago by the ERM that our debt was out of control but the idiot didn't listen, he knows best just as now, a control freak who will bankrupt the UK and he still wants to borrow more, more , more ensuring the next government has no chance of improving the economy, he's such a prick he's probably doing it just out of spite. Forget foreign travel for years unless you want to pay a fortune for it and get rid of that idiot ASAP. Any of you who you think the Thatcher years were bad wait till you see what's coming.

 

[Beach Hut]

The perilous state of the UK economy is largely down to that f***ing half wit Brown who as chancellor showed all the 'prudence' of a five year old in a sweet shop, no f***ing idea except spend, spend, spend to make himself popular. The UK was warned several years ago by the ERM that our debt was out of control but the idiot didn't listen, he knows best just as now, a control freak who will bankrupt the UK and he still wants to borrow more, more , more ensuring the next government has no chance of improving the economy, he's such a prick he's probably doing it just out of spite. Forget foreign travel for years unless you want to pay a fortune for it and get rid of that idiot ASAP. Any of you who you think the Thatcher years were bad wait till you see what's coming.

Excellent another voice of reason, the Tories are coming home and Boris has led the charge

 

[coventrygull]

Yes, and I'm sure all of the hard-working people will attest to that, with their comfortable living standards and extra spending money.
If not, why not? It must be, surely?
We ARE all rolling in it, aren't we??

We had comfortable living standards and extra spending money because we borrowed it. Now were f***ed hence the problem. Its all been a dream. now for the harsh reality

 

[Tom Hark Preston Park]

Yes because we demanded too higher wages so we moved to more profitable industries like banking / service sector / IT etc

Have you got some rare form of TOURETTES?

 

[Herr Tubthumper]

No way, always the lefties blame Maggie whereas her policies have bought a lot of wealth to the UK

I agree. Flogging off the energy companies has brought a lot of wealth to the share holders.

 

[Herr Tubthumper]

Any of you who you think the Thatcher years were bad wait till you see what's coming.

I'm waiting......

 

[Herr Tubthumper]

Yes because we demanded too higher wages so we moved to more profitable industries like banking / service sector / IT etc

A very short sighted move eh?

 

[Nottseagull]

...workers moving across the channel to work in mainland Europe will be better off paid in euros especially the Poles whose mother country is binning the zloty for the euro next year.

Didn't know the USSR used the zloty.....

 

[Beach Hut]

Have you got some rare form of TOURETTES?

Nope but I suspect you'd be happy working in mine with no prosperity