British £

[sprayer]

What on earth is going wrong with the Great British £ a few years ago the euro used to
be known as the toilet currency (destined to go down the pan) now the 2 currencies are almost
1 to 1 - a disaster for any Brits going on holiday in the euro zone, so why is this happening ?

[craft1948]

it's called The Gordon Effect.....

[David Black]

Brown is borrowing so much money from foreigners that they are getting a bit unhappy with Sterling. Plus interests rates here are set unreasonably low to prop up the housing market as the Government owns a lot of the Mortgage Market and wants to avoid repos.

Essentially Brown is an idiot who has never held a real job and has screwed it all up for a generation of young people. Its actually pretty good if your olded with an over priced house and a small mortgage plus shops full of cheap stuff and a Government afraid to put up taxes.

Pity the young they got robbed by Labour.

Hence the drop.

[Ankou]

because of our enormous debt and low interest rates overseas investors are unwilling to purchase sterling assets and thus finance the uk trade deficit.....

.....amongst other factors.

[craft1948]

that's what I said.....

[SIRandyraven]

Demand and supply ....
Gordon prints £ notes ...not a good move for the strength of the £.
Gordon borrows lots and lots and not sure if he can now pay it all back.
Gordon has watched the UK turn into a finance driven economy. Whoops ! ...Vapour ...smoke and mirrors ...

However the Dollar is not too good either ...but not as bad as the pound lol
Bit like you getting an F grade and the chap who sits next to you looks good for getting an E.

Also Oil prices e.t.c might no longer be linked to the $ ...So everyone is rushing to buy Euro.

I could go on and on ....UK has been bust for years and we have been living on borrowed wealth ....

If I had kids , i would tell them to get out of this country asap and build a better life abroad.

The U.K. , soon will no longer have a AAA rating ....As we slip towards third world status.

I'm thinking of smuggling myself into Albania in the back of a lorry ...will be an option soon.

The decline will be slow and hard to detect.
Poor education , health , roads e.t.c. as budgets are cut ...
Higher interest rates and taxes.
High unemployment and those with employment will have lower wages.

The company I work for has the following options ....

Keep a developer in London at £100K + per year ...or move development off shore at less than £5K per year per head ...