Just had a look at the exchange rates on text 1.10€ Where are all these people who said it would go back to 1.30.
Its awful and just when I will need to transfer some soon.
One word for it, Brexit.
And you would be truly amazed how many expats voted for it .... Turkeys voting for Christmas springs to mind !!!
How many was it then ? .............amaze me !
Yes its bad and i fear will get worse as the shambles of Brexit negotiations reaches its conclusion. After the result i hoped that the Brexiteers had got it right and things would fall into place. All i see at the moment is a government that is floundering from day to day. I dont have any confidence in the future as there is not a leader with vision in any of the parties. The exchange rate reflects what the international money markets think of us now and what the future holds, rightly or wrongly thats how the financial world operates. The strength of the pound now tells you exactly what they think about the British prospects both now and in the foreseeable future
Hi All
Short or selective memories
During2009.2010.and 2011 exchange rate down to 1.10 and below on some occasions.
All down to BREXIT then.Obviously!!!?? :banghead:
That is right it was due to the banks screwing things up. BUT..... the pound recovered fairly quickly and the rate went up to 1.30+. Whereas now it has been at the low rate for over a year and will remain that way or worse thanks to Brexit. No Brexit vote = no drop in exchange rate.
Hi
Yes,you are correct,it did go back up to 1.30 in 2015!!!!!,pretty quick I think not,
anyway on that premise we have another three years for it bounce back from
the current levels caused of course by BREXIT!!!??? :021:
Heathlea 11 the last time it did go down to 1.10 it did go back up quite quickly,but not this time.
I'm sure that the majority of people who voted to leave never even thought about the euro going down,or have even been abroad.
Nothing we can do about it just carry on regardless.
There was a bloke on the telly, saying all our ills are really down to the bank crash 10 years ago, from which the UK has never really recovered, but adjusted down to give the impression it had. He reckoned the UK has reached the bottom now and there are no more tricks in the bag.
Brexit has only exacerbated the situation created by the banks and lack of control by gov.uk. Brexit is also a byproduct of the bank crash. :32:
Quote from: webejamin on August 09, 2017, 10:33:50 AM
There was a bloke on the telly, saying all our ills are really down to the bank crash 10 years ago, from which the UK has never really recovered, but adjusted down to give the impression it had. He reckoned the UK has reached the bottom now and there are no more tricks in the bag.
Brexit has only exacerbated the situation created by the banks and lack of control by gov.uk. Brexit is also a byproduct of the bank crash. :32:
I think there is some truth in that :08:
Cor blimy :c029: :08:
The lowest rate was on 31 Mar 2009 1.08, June 2009 1.16 and by June 2010 it recovered to 1.20, Jan 2011 1.18, Jan 2010 1.20, where it pretty much averaged out fluctuating between 1.20 and 1.25 until July 2015 when it rose to 1.41 and Dec 2015 1.37. Jan 2016 in the build up to brexit vote saw it hover around 1.30 mark. July 2016 it dropped to 1.18 and has continued to drop ever since.
So yes, there was an all time low in 2009 but it did recover within 15 months by 11%. And continued until Brexit. Without brexit it would have remained at around 1.32. That is 20 cents in the pound more than today. Based on a basic pension income of say £600 a month that is 120€ per month lost because of the current rate.
Since the Referendum result announcement last year there has been a consistent reduction in the value of Sterling and this reduction has caused the Bank of England to reduce the growth forecast for the UK in the coming quarters. Also UK interest rates are unlikely to be held at current low rates for many more months which may further reduce future growth forecasts, although it may help the exchange rate in the short term.
A vicious circle at the moment.
My wedding anniversary today. 10 years go it was the start of the financial crisis. Worryingly I am seeing similar signs in the economy and growth rates. I hope this crash will not be so bad. Hang onto your hats! Will be a bumby ride.
This current situation is self inflicted, need not have happened. the UK was making progress, now they have shot themselves through the foot, Thats what happens when you leave important decisions to those who dont know a thing about what they are being asked to vote on. Scaremongering they said? all hot air, telling lies!!!
Quote from: gingernut on August 09, 2017, 06:55:29 AM
Just had a look at the exchange rates on text 1.10€ Where are all these people who said it would go back to 1.30.
its onni gonna go back up,if it looks like a soft brexit,EEA Remain or full remain.....the more anx the press get and the more banks that say there off with the od goverment tiff thrown in the more un certainty it causes
as it is,it looks like the UK could walk from the talks table by x mass,ie coz there not agreein on an exit fee or full citizens right,s for EU citizens in the UK,so it is looking like a very hard brexit walk away then build in with this that the uk is 2 trill in debt and every person ownws 1000,s on paper in debt,then this undermines yer uk stock value ie yer currency.
i ve pencilled up,uk Hard ball walk 1 TO1
Hammond sorts soft exit over the next 5 years probably 1.18
remain 1 .25 plus once everybody gets the toys back in the pram and starts been good europeans again.
at the minuit tho for me anything above 1 to 1 is a bonus till we see if they walk over the exit payment & rights aftr october
good news is,wi anybody invested in stocks since brexit vote,the stong & stables & red bus passangers have coined yer a brexit stock bonus of around 25 / 30 %
anyway its still cheaper here at 1 ti1 we were on sea front last night
1 tonic
1 red wine
1 coffe
1 beer
8e sat on beech ,its gonna be a stuggle but onwards & upwards to the new.... Non EU England.....LOL
O and wile were on it, A BIG Thanks to Roger Done for getting the IBI Sorted with back dates done befor it goes to 1 to1
Saved us all a few quid there has Mayor Rog
well done Roger x
I agree, even at 1 to 1,it is still cheaper to live over here,so lets all stop whinging and enjoy what we have got here.
Or you could move back to the UK and see how far your pound goes over there these days.
Fing is...its not just the Brexit,its personal debt,soveign debt, plus what the brexit has shown...is the weakness & ruderless in both main
political partys,wich investors dont like.
mind you its not all bad coz the uk is grate,coz yel get a bit of help wi yer rents,and if yer can hide yer hubby in shed yell get 25 % of council tax.... :57:
Every cloud has a silver lining folks. The UK tourist industry is booming. 1 to 1 is still fine as where can you get a coffee in the UK for €1.
Quote from: Lynden on August 09, 2017, 16:07:15 PM
Every cloud has a silver lining folks. The UK tourist industry is booming. 1 to 1 is still fine as where can you get a coffee in the UK for €1.
yes coz yev got yer free movment,it will soon go tits once EU folks needs visas......i mean whom in there right mind is gonna apply for a visa to go ti cleathorpes...... :57:
Quote from: heathlea11 on August 09, 2017, 09:52:20 AM
Hi All
Short or selective memories
During2009.2010.and 2011 exchange rate down to 1.10 and below on some occasions.
All down to BREXIT then.Obviously!!!?? :banghead:
Short memory!! That was six years ago!!
Quote from: heathlea11 on August 09, 2017, 09:52:20 AM
Hi All
Short or selective memories
During2009.2010.and 2011 exchange rate down to 1.10 and below on some occasions.
All down to BREXIT then.Obviously!!!?? :banghead:
Think you missed the point. The current situation is similar to the crash. Mismanagement of the economy and Brexit is having the same effect.
Cleethorpes Tets that brings back a bad memory. I had a go in the paddle boats when I was very young....the bloody thing had a leak and started to sink. Put me off Cleethorpes for life :03:
Oh I now get it, we should all be out celebrating the fact that we are now getting 1.10 , with Morgan Stanley predicting lower, much lower.
It's just fantastic that we now don't get so much for our our money, never heard such stupid clap trap, some must have been in the sun too long.
Strikes me of a bit of ex pat macho bravado. "I got so much money what do I care" as often heard outside Maloans, Arboleas.
That it may, in the past have been as low, is of no relevance whatsoever in this self inflicted downturn in UK economic fortunes and should be a concern to anyone with half a brain, it eventually effects everyone!
If taxes had gone up, taking away what the drop in rates has taken, you would all be screaming like hell.
Exactly KJ
Anyway campers is all Academic....we will just have to work with the 1to1 wich will be do able ie quid a litre for deisel,2 quid a pint,100 quid road tax,270 quid car insurance with brakedown,300 quid council tax,40 quid per person shopping,50 quid a month lecky,10 quid a month water,ect ,lets not throw our selfs in the sea...just yet
what MAY be a bigger problem COULD be the free moves & citizens rights and no pay medical cover
Also dont forget for the folks thats stuggling with health issues/ old age you can get UK attendance allowance wich is worth 200 plus per month.
to give our euro loss a little more perspective
http://www.itv.com/news/2017-08-10/rough-sleeping-in-uk-expected-to-rise-by-76-in-ten-years/
"Also dont forget for the folks thats stuggling with health issues/ old age you can get UK attendance allowance wich is worth 200 plus per month".
Come March 2019 will this continue then? Very much doubt it.
Quote from: Rod on August 10, 2017, 11:38:31 AM
"Also dont forget for the folks thats stuggling with health issues/ old age you can get UK attendance allowance wich is worth 200 plus per month".
Come March 2019 will this continue then? Very much doubt it.
Thats fair comment,but if folks get the forms done now ,they will get it from the date the forms whent in which might help them now until we find out if were getting an extream brexit or a remain/ part remain EEA
We have helped two people with the forms ,both got the allowance and its made a big diffrence to there lifes at 75 year old plus.
Just got
1.06 from Sainsbury's
:73:
Quote from: sparkiemike on August 10, 2017, 13:14:02 PM
Just got
1.06 from Sainsbury's
:73:
yer carnt put a price on English freedom Micheal,besides 2 years time you will probably need a visa & private meds, ti visit :shocked:
Anyway glass half full ,its the wil of the people . LOL
PS open a Santander 123,ad you will get a good rate from Santander cash points in spain
1.8 and a bit from Sainsbury's today, 1.9 and a bit from Thomson travel, they do move if you argue that the local cash converter (pawn broker) is doing better. :72:
The start of the Financial Crisis was in 2007/2008. At the beginning of 2007 the exchange rate was above 1.50 and at the end of 2008 it was 1.02/1.03 ( that's bank rate not tourist rate ) for some reason most people seem to have forgotten this. So the fall in the value of the pound was far more dramatic then than it has been since the leave/remain referendum and there was far less hype in the media then than there is now. I wonder why ? What was the cause of this huge decline in the value of the pound then ? That " wonderful " Mr Gordon Brown stated that the Financial Crisis was a global phenomena.
Expats living in Spain and the rest of the Eurozone took a far bigger hit to their income then, but they got by. So I guess they will again.
The following is an extract from a SkyNews report referring to the Wilko chain of 40 shops restructuring it's business strategy which may jeopardise the job security of some of it's 20,000 employees.
"The move comes after Wilko reported an 80% fall in pre-tax profits to £5.1m for the year to 28 January, pointing to political economic uncertainty, the collapse in sterling and the introduction of the national living wage. Retailers are being squeezed by a rise in costs thanks to the plunge in the pound since the Brexit vote which has pushed up the cost of the imported goods while at the same time firms are under pressure to keep down prices for their customers amid stiff competition."
The exchange rate fell below 1.10 during the afternoon session yesterday, though it closed at a little over 1.10.
Hard times ahead for the UK....it imports everything and has nothing to sell to balance the trade books.
The best deal would be to close the borders but remain as a trading partner only.....magic wand needed for that one. (China makes magic wands!)
Yer buts its the wil of the people,they all new the currency would fall through the floor,and increas imports of goods power & food as the scarry mongerers told em,main thing is streight bananas now..... :57:
anyway lets have a bit of the proms on,gi all us hard ups a lift
https://www.youtube.com/watch?v=rB5Nbp_gmgQ
:08:
Tets, you see problems, I see opportunities.
Grow more food at home, keep those dodgy EU eggs out.
Stop importing cheap ***** from China.
UK goods are now cheap so more competitive.
I used to work in retail a long time ago.....every time they had a problem ( and in Wilkos case it ain't turnover) they would cut staff. Every time it started a vicious circle ....less staff less sales......cut more staff....less sales. Short sighted.
Quote from: Lynden on August 12, 2017, 16:55:26 PM
Tets, you see problems, I see opportunities.
Grow more food at home, keep those dodgy EU eggs out.
Stop importing cheap ***** from China.
UK goods are now cheap so more competitive.
I used to work in retail a long time ago.....every time they had a problem ( and in Wilkos case it ain't turnover) they would cut staff. Every time it started a vicious circle ....less staff less sales......cut more staff....less sales. Short sighted.
LOL :57: yer i never though id have X all in common wi Alan Suger.....glass half full...cheers ! :))
Some great ideas Lynden
Grow more food at home, keep those dodgy EU eggs out.
Stop importing cheap ***** from China.
UK goods are now cheap so more competitive.
I can a see a problem though, who is going to grow the food, farm the eggs, make the goods they now import.
They will require a few million people to take up the existing jobs that the current overseas workers
now do once they have left the UK to satisfy the majority wishes. So who is going to do these jobs?
Not heard anyone yet explain how they are going to get those that wont work and use any excuse not to work,
to get off their A---s and work for a living instead of their normal pastime of putting their hands out.
Now where did i put my rose coloured spectacles?
The rate is up a sliver, a teeny weeny sliver... :cheesy:
Hogs
:clap: :clap:
It seems the Spanish are getting seriously miffed at landlords in Barcelona, Majorca and other areas, who are keeping their property to rent out for large sums to the tourists, rather than the locals. Protests on the beach etc etc.
They are at least making their feelings known in a very public way !
In the UK, new housing developments of more than 25 houses/flats have to include a proportion of social housing,
depending on certain criteria.
Hogs yer forget ti mention Ex pats spending there UK Benifits in Spain ,mind you yer carnt blame em it does go further this end in Rural spain even at 1 ti 1.
Glass Half Full lol
Glass half full indeed Tets :grin:
Ex-pats can't really complain. Property prices, IBI, coffee, beer, wine , menu dry dia,, all cheaper in Spain than the UK .
And of course, those who are about to sell their properties and transfer money back to UK, will do very well.
Glass half full. :72:
Quote from: zilnor on August 13, 2017, 12:00:18 PM
Glass half full indeed Tets :grin:
Ex-pats can't really complain. Property prices, IBI, coffee, beer, wine , menu dry dia,, all cheaper in Spain than the UK .
And of course, those who are about to sell their properties and transfer money back to UK, will do very well.
Glass half full. :72:
Thing is we like to paint it a bit black this end....Keeps all the UK nutters out that should have worked a bit harder and gon ti the south France, last thing wi need this end is more under acheiving moanig Bxggers :57:
Anyway me & mrs were out last night somthing ti eat local,a few beers,wines,tonic,and spent 14 quid. :sign0098:
Don't know wot all the fuss is about anyway :32: we wos in the pound shop an everyfink is still a pound :72:
Webe. :57:
You bring a breath of fresh air to this forum ! :clap:
Luff is too short to be miserable. :grin:
No Hogs, re your comment
Now lets get on to the idle lazy Barstwards in the UK that claim for everything and contribute nothing (again much lauded by some on this Forum and elsewhere)
The blame of inception lies fairly and squarely on the shoulders of Governments of both Conservative and Labour for not addressing the principles of the Wefare State. And should be reformed to a 'You've got put it in before you can get it out' Just like Spain and other EU States! But that will have to wait a bit I'm sure.
The blame lies partly with successive governments of the uk , but more with the citizens of the Uk who have allowed it happen and condoned it by either joining in or turning a blind eye and allowing the various political parties to ignore it too. Countries get the governments they deserve. More to the point you have failed to explain who is going to achieve a sea change in the attitude of UK citizens towards this problem, once the immigrants, the majority so clearly dont want, have been banned and encouraged to return home. You have just over 18 months to establish the new world waiting for the UK.
I do feel aggrieved that my money does not go so far, i worked hard for it, never had a penny of government handouts or benefit money except my NHS treatments and now my state pension. In 45 years of not stop employment, (no not fortunate, just a determination to work and save) i have watched with dismay at the way the country encouraged a sizable proportion to sit on their backsides, whining about everything with hands out while others do the work and pay the taxes to provide it.
So i ask again, as these vacancies are so clearly going to have to be filled in 18 months by "Only born and bred" Uk citizens, how does the UK achieve this?
Your comment But that will have to wait a bit I'm sure. will not suffice will it? the answer to fill the vacancies is needed now.
I am not a die hard EU supporter who thinks that everything in the organisation is perfect, far from it. Where does one start to list what is wrong in such a huge organisation. Neither am i a disgruntled former UK resident who thinks that everything in the UK is rubbish.
What i do see is that a section of the UK is racist in their thoughts towards immigrants and their various religions.
That there is still a section of citizens who think that the UK can do without any immigrants, now and in the future.
That the world has moved on from that that existed prior to joining Europe and that the Empire has long gone and is not coming back.
That the world once had respect for the UK and its way of life and Governments, that has gone, in fact in certain places they are despised.
That the world wanted to and did buy British goods, that has gone, they dont make much of anything any more.
That in a world fraught with all its problems and dangers it becomes increasingly difficult to exist as an isolated state.
We are seeing signs that many in the EU genuinely want change amongst the 27 countries.
That should have been encouraged and supported by the UK as a full member and leading light for lasting change.
All our collective bleating on here will not change a single thing, the die is cast, but the clock is ticking, time is getting short and the economy is on the slide
Who or what is going to revive it.
"We are seeing signs that many in the EU genuinely want change in the 27 countries " .
But will the likes of Juncker and all the other gravy train passengers at Brussels actually allow this to happen ? When they may lose their huge salaries and all the other perks ?
In my area of the Midlands, the one thing that Remainers and Brexiteers agree on is their total dis- satisfaction and anger at the amount of money paid out to the EU Commissioners and self-serving bureaucrats.
Immigration comes second to the EU gravy train.
We wont know will we what could have been achieved had we have stayed, fought our corner and encouraged others to do the same.
The UK will now enjoy whatever the future holds for it, no going back.
I just hope ALL the people who voted out genuinely knew what they voted for and the economic situation, i suspect not.
I've asked that very question Hogs "why not" and the answer was "of course they will be able to stay" they've all been reassured that they will stay exactly as they are now. Why would they be any different to Filipino nurses, Indian doctors, just as it is now?