Exchange rate

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This topic contains 104 replies, has 23 voices, and was last updated by Profile photo of Anonymous Anonymous 8 years, 7 months ago.

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  • #53820
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    Anonymous
    Participant

    The rumour doing the rounds in the city is that the Pound and Euro may go to parity – ie: 1:1

    This could be the ‘final nail in the coffin’. I pity those poor souls who are nearing completion.

    Can anyone suggest why the pound is so weak against this currency? It doesn’t make sense to me. 🙄

  • #80402
    Profile photo of Anonymous
    Anonymous
    Participant

    I hope this is just a rumour.

    What about us poor souls living on a fixed income from the UK? We wouldn’t be able to survive, its bad enough now with our monthly income going down by over 10%.

  • #80404
    Profile photo of Anonymous
    Anonymous
    Participant

    Is this perhaps an April Fool joke, Maximus?

    If so, All fools day in Spain is I believe 26th December.

  • #80405
    Profile photo of Anonymous
    Anonymous
    Participant

    I’m about to complete but arranged my mortgage through the N&P in Sterling. (converted on the day of completion)
    I reckoned that it was a wise hedge to have my ‘asset’ in Euros and my ‘liability’ in Sterling, since I earn in Sterling and therefore wouldn’t have to convert each month to pay the mortgage. This has backfired spectacularly though as when the mortgage was approved the rate was 1.33 and now it’s 1.25, leaving me with another 13k to find!!

  • #80407
    Profile photo of Anonymous
    Anonymous
    Participant

    What is the source of your info maximus? Or will you come back after midday and say “APRIL FOOL”!! 🙂

  • #80408
    Profile photo of Anonymous
    Anonymous
    Participant
    maximus wrote:
    The rumour doing the rounds in the city is that the Pound and Euro may go to parity – ie: 1:1
    Can anyone suggest why the pound is so weak against this currency? It doesn’t make sense to me. 🙄

    The aspects of real life do not depend on rumors.

    The Euro is strong because the German economy is very strong and the inflation rate is high in Europe, which implies that the chances of a rate cut by ECB is low.

    In UK the house prices are on their way down and the financial sector is suffering which implies that the chances of a rate cut by BoE is higher.

    ECB will start cutting in at most 6 months. The Pound/Euro will return to normal values.

  • #80409
    Profile photo of Anonymous
    Anonymous
    Participant

    APRIL FOOL 😆

    Sorry folks – couldn’t resist this one!!!!!!!!!!

  • #80415
    Profile photo of Anonymous
    Anonymous
    Participant

    Nice one.

    But we don’t have to go to 1:1 for the exchange rate to be way out of line – we are already there.

    If Spain still had the Peseta, I have no doubt that it would have devalued significantly against the Pound by now, probably by 20% or more. Just look at the widening spreads on all types of Spanish debt, which is how the market tells us what it thinks about Spanish securities now that currency risk has been removed as a signal. So Spain’s currency (Euro) is appreciating against the Pound, when fundamentals (current account deficit, inflation, etc.) suggest that the old Peseta would be depreciating.

    Whilst the Euro exists and Germany calls the shots, I can’t see the currency reflecting a fair value for Spanish securities. It doesn’t look like the Euro is about to disappear, so that leaves…..wage compression and falling asset prices in Spain as the only route back to fair value (in Euros).

    Mark

  • #80416
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    Anonymous
    Participant

    The converted rate at the moment for GBP/Pestea is 211. With all Spain’s problems you are dead right, the Peseta would be under big pressure and a devaluation on the cards. I wonder if the Euro is forced to break up, what the mechanics would be.

  • #80429
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    Anonymous
    Participant

    I was so amazed by this article that I e-mailed it to a couple of friends.
    Now Maximus, you’ve got me wondering – considering today’s date. 🙁

    http://www.telegraph.co.uk/news/main.jhtml?xml=/news/2008/04/01/npenguin101.xml

  • #80431
    Profile photo of Anonymous
    Anonymous
    Participant

    Charlie, PLEASE tell me you didn’t believe that story! 😯 They played it as an ad this afternoon and said to go to BBC website for further info. The ad showed the penguins landing in the Rain Forests!!!! 😆

  • #80434
    Profile photo of Anonymous
    Anonymous
    Participant

    😳
    I did. I did.
    Though having such fat tummies, I did think it rather amazing that their little flipper-things could lift them off the ground!

    I’ve got to get a life…..have been reading Frank’s posts for so long now, I can’t tell fact from fiction anymore. 🙁

  • #80436
    Profile photo of Anonymous
    Anonymous
    Participant

    Whilst I appreciate the original poster was joking…..but is parity that unlikely?

    1st November 2000 – (The euro was not in physical existence, but member states had set their exchange rates in preparation for the launch 14 months later)

    £1 purchased €1.7099 !

    I remember around this time, changing money in Gib and getting 280 pesetas to the pound. 😯

    And in those days you could still get a glass of lager or a coffee in Spain for 100 pesetas – 36p!!!

    But look at the dollar:

    1st November 2000:

    $1 purchased €1.13

    1st April 2008:

    $1 purchased €0.64

    Now tell me that we can’t get GBP/Euro parity, or even worse…..

    Gordon Brown doesn’t care about us ex-pats….we can’t even vote in the elections, he will try every trick in the “economic book” to keep the UK afloat, and the oldest one is to devalue your currency.

    The pound is paying the price of having interest rates of at least 2% below where they should have been for the last 5 years.

    Which in turn has caused rampant inflation, cleverly hidden, through migrant workers, home owners borrowing against their inflated house prices and of course fiddled inflation figures.

    There is no way out for GB as the normal course of action for a falling currrency would be to increase interest rates.

    Iceland rates have just been increased 1.25 to 15% 😯

    New Zealand up to 7.50%

    What does GB do …er cut ours by .25%

    He can’t raise rates or the housing market will collapse.

    And if de does nothing or cuts them any more then the pound is history.

  • #80444
    Profile photo of Anonymous
    Anonymous
    Participant

    ” Gordon Brown doesn’t care about us ex-pats “
    Can the forum readers tell me who does Gordon Brown care about ???? Please don’t tell me the non Dom’s as they are such a low number that its not even talking about.

  • #80445
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    Anonymous
    Participant

    Can the forum readers tell me who does Gordon Brown care about ????

    ERRRRRRRRRRRRR ? 😕 Ummmmmmmmmmmm? 😕 Ahahhhhh !:D Gordon Brown!!

  • #80448
    Profile photo of katy
    katy
    Spectator

    I don’t think Brown is capable of caring, he is dysfunctional.

  • #80457
    Profile photo of Anonymous
    Anonymous
    Participant

    Not only dysfunctional but dangerous. The man is setting about crippling the UK economy ( as he did when he was chancellor) and is now totally out of his depth as PM.

  • #80459
    Profile photo of Anonymous
    Anonymous
    Participant

    Study on Claire !!!!!!!!!!!! so much passion is not seen/heard on the forum.

  • #80467
    Profile photo of Anonymous
    Anonymous
    Participant

    @KevynDee wrote:

    The man is setting about crippling the UK economy….

    Not only crippling the economy but crippling the UK way of life with his open door policy of immigration.

    And before anyone starts running round the room in circles, screaming wide-eyed with arms waving full-stretched in the air…..the facts are now official, as per the House of Lords enquiry this week. So thankgoodness one can say such a thing without hearing the R word screamed at a hysterical pitch of f#.

    And just to make it totally pertinent for the forum, it’s a fact that high taxes, crime and uncontrolled immigration are some of the reasons quoted as to why many Brits are leaving UK and moving to places like…….Spain.

  • #80468
    Profile photo of Anonymous
    Anonymous
    Participant

    KevynDee, perhaps you would like him back in Scotland…. along with “Mr Speaker” and his wife!?!! 😉

  • #80492
    Profile photo of Anonymous
    Anonymous
    Participant

    charlie said, “it’s a fact that high taxes, crime and uncontrolled immigration are some of the reasons quoted as to why many Brits are leaving UK and moving to places like…….Spain.”

    Unbelievable isn’t it when you consider that Spain has such high rates of immigration, which these people are adding to!

    “Spain currently has the second highest immigration rates within the EU, just after Cyprus, and the second highest absolute net migration in the World (after the USA).” [http://en.wikipedia.org/wiki/Immigration_to_Spain]

    It seems that they want the freedom to live and work in Spain but not that citizens of other EU countries (Poland, Romania etc) can live and work in the UK. If these people really dislike foreign people so much then going to live abroad seems bizarre except, of course, unless they intend to live in a gated British ex-pat ghetto and try to recreate the 1950s without all this modern “political correctness gone mad”.

  • #80494
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    Anonymous
    Participant

    @bradness wrote:

    Unbelievable isn’t it when you consider that Spain has such high rates of immigration, which these people are adding to!

    “Unbelievable”…not really.
    Look at immigration figures for both countries, then take a look at a map and remind yourself of the difference in size of the two countries.

    Are there schools in Spain with 35 different nationalities?

  • #80499
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    Anonymous
    Participant

    So are all of these immigrants are going to rural Extremadura or the empty plains of La Mancha? Of course not, they are generally moving to the urban areas as that is where the work is. Just as immigrants to the UK gravitate to the cities rather than the highlands of Scotland or the Peak District.

    What I find ridiculous is people complaining about too much migration and then migrating themselves! And to a country with just about the highest level of immigration in the world by any measure. Surely it couldn’t be because they see themselves as ‘good’ migrants and others as ‘bad’ migrants, could it? It is hypocritical to claim that freedom of movement is a good thing for somebody from the UK but not for a Pole or Romanian.

    Personally, for me this freedom of movement has been great and I accept that others should equally be able to take advantage of it.

    Anyway, I will shut up now that I have had my rant!

  • #80990
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    Anonymous
    Participant

    1:1 Joke getting less funny by the day

  • #80789
    Profile photo of Anonymous
    Anonymous
    Participant

    1:1 Joke getting less funny by the day

  • #80994
    Profile photo of katy
    katy
    Spectator

    Which joke would that be?

  • #80793
    Profile photo of katy
    katy
    Spectator

    Which joke would that be?

  • #81016
    Profile photo of Anonymous
    Anonymous
    Participant

    See first message on this thread posted 1st April.

  • #80815
    Profile photo of Anonymous
    Anonymous
    Participant

    See first message on this thread posted 1st April.

  • #81026
    Profile photo of Anonymous
    Anonymous
    Participant

    The simple fact is, the British do see themselves as a better class of migrant when they move to Spain or elsewhere for that matter.

    In all seriousness they are to a certain extent. The British don´t arrive in Spain and expect state housing and financial benefits. They usually buy houses and pay taxes.

    Migrants to the UK usually expect to be given state housing and financial benefits.

    What´s the difference. Well the former contribute to an economy and the latter drain it.

  • #80825
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    Anonymous
    Participant

    The simple fact is, the British do see themselves as a better class of migrant when they move to Spain or elsewhere for that matter.

    In all seriousness they are to a certain extent. The British don´t arrive in Spain and expect state housing and financial benefits. They usually buy houses and pay taxes.

    Migrants to the UK usually expect to be given state housing and financial benefits.

    What´s the difference. Well the former contribute to an economy and the latter drain it.

  • #81038
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    Anonymous
    Participant

    Peter, over 80% of the population in the UK (in all polls) agree with you and I, and I certainly would like to see some kind of ‘controlled’ immigration replace the uncontrolled situation that currently exists.
    However, Bradness thinks “this freedom of movement has been great” and has the right to his opinion – just hope we now don’t get another ‘rant’.

    Returning to topic, with the rate currently nudging under 1.245 euros to the £ – and with the ‘mood’ that it could fall further, it does make one wonder where it will all end.

  • #80837
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    Anonymous
    Participant

    Peter, over 80% of the population in the UK (in all polls) agree with you and I, and I certainly would like to see some kind of ‘controlled’ immigration replace the uncontrolled situation that currently exists.
    However, Bradness thinks “this freedom of movement has been great” and has the right to his opinion – just hope we now don’t get another ‘rant’.

    Returning to topic, with the rate currently nudging under 1.245 euros to the £ – and with the ‘mood’ that it could fall further, it does make one wonder where it will all end.

  • #81042
    Profile photo of Anonymous
    Anonymous
    Participant

    Hi Charlie 🙂
    Think we are on a similar level on these matters so its basics.
    Now I can see how manufactures and many companies will be in a great buying position.
    However what is happening when they are selling their products to us for example an expensive B.M.W.
    Holidays will have to discounted to allow in part for the situation or they will not get the Brits business.
    How can this one fits all situation survive in the present economic termoil.
    Before anyone tries to blab above our heads can anyone throw in their opinions to us mortals

    Just Frank 8)

  • #80841
    Profile photo of Anonymous
    Anonymous
    Participant

    Hi Charlie 🙂
    Think we are on a similar level on these matters so its basics.
    Now I can see how manufactures and many companies will be in a great buying position.
    However what is happening when they are selling their products to us for example an expensive B.M.W.
    Holidays will have to discounted to allow in part for the situation or they will not get the Brits business.
    How can this one fits all situation survive in the present economic termoil.
    Before anyone tries to blab above our heads can anyone throw in their opinions to us mortals

    Just Frank 8)

  • #81064
    Profile photo of Anonymous
    Anonymous
    Participant

    Well the British Government are unambiguous regarding their pro migrant stance.

    A few weeks ago, a labour work and pensions minister was totally serious about Eastern European migrant workers bearing the burden of the UK pensions shortfall. With so many old people living longer and fewer young people contributing, it seems migrant workers are the answer.

    The interviewer negated the fact that most migrant workers are in the black economy such as agriculture and construction, they are paid in cash and contribute no taxes whislt claiming unemployment benefit and housing.

    Just how out of touch is NEW Labour???

  • #80863
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    Anonymous
    Participant

    Well the British Government are unambiguous regarding their pro migrant stance.

    A few weeks ago, a labour work and pensions minister was totally serious about Eastern European migrant workers bearing the burden of the UK pensions shortfall. With so many old people living longer and fewer young people contributing, it seems migrant workers are the answer.

    The interviewer negated the fact that most migrant workers are in the black economy such as agriculture and construction, they are paid in cash and contribute no taxes whislt claiming unemployment benefit and housing.

    Just how out of touch is NEW Labour???

  • #80987
    Profile photo of Anonymous
    Anonymous
    Participant

    I am all in favour of free movement of goods, services and finance throughout the European Community and with this the freedom of Community Members to work and live in the country of their choice. This, after all, is the generic ethos behind the European Community,

    But, what a find annoying is that:

    The UK Government won’t adopt the Euro.
    Wages of low paid workers are being driven down due to competition from migrant workers.
    Earnings for business owners are being inflated by migrant workers.
    House prices are too high due to excess demand.
    The gap between rich and poor is too large and increasing. There needs to be a modest redistribution of wealth from the older generations to young people; but these youngsters cannot get on the housing market.

    In other words, the UK government has been distorting European economics in-order to remain in power.

    By expanding the boundaries of the European Community this can only gets worse. Apparently there will be a huge movement of Turkish workers next.

  • #81124
    Profile photo of Anonymous
    Anonymous
    Participant

    I am all in favour of free movement of goods, services and finance throughout the European Community and with this the freedom of Community Members to work and live in the country of their choice. This, after all, is the generic ethos behind the European Community,

    But, what a find annoying is that:

    The UK Government won’t adopt the Euro.
    Wages of low paid workers are being driven down due to competition from migrant workers.
    Earnings for business owners are being inflated by migrant workers.
    House prices are too high due to excess demand.
    The gap between rich and poor is too large and increasing. There needs to be a modest redistribution of wealth from the older generations to young people; but these youngsters cannot get on the housing market.

    In other words, the UK government has been distorting European economics in-order to remain in power.

    By expanding the boundaries of the European Community this can only gets worse. Apparently there will be a huge movement of Turkish workers next.

  • #80989
    Profile photo of Anonymous
    Anonymous
    Participant

    @maximus wrote:

    In other words, the UK government has been distorting European economics in-order to remain in power.

    It will be interesting to see how they fare in the local elections on May 1st.
    I think Gordy McBroon will be in for a leadership challenge if they go badly.
    (Have given up trying to discuss the exchange rate on this thread!).

    Oh why not…..let’s keep on topic
    euro closed on 1.2459506 to the pound.
    Put another way, £1 = 0.8026 euros

    Any bets on 1.20 by the end of next week?

  • #81126
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    Anonymous
    Participant

    @maximus wrote:

    In other words, the UK government has been distorting European economics in-order to remain in power.

    It will be interesting to see how they fare in the local elections on May 1st.
    I think Gordy McBroon will be in for a leadership challenge if they go badly.
    (Have given up trying to discuss the exchange rate on this thread!).

    Oh why not…..let’s keep on topic
    euro closed on 1.2459506 to the pound.
    Put another way, £1 = 0.8026 euros

    Any bets on 1.20 by the end of next week?

  • #80991
    Profile photo of katy
    katy
    Spectator

    On TV todays it said tourists are being offered 118 to as low as 111 😯

  • #81128
    Profile photo of katy
    katy
    Spectator

    On TV todays it said tourists are being offered 118 to as low as 111 😯

  • #80997
    Profile photo of Anonymous
    Anonymous
    Participant

    No need to rely on what is seen and heard on TV, just look for yourself.
    Example, Post Office today offers 1.2011€

  • #81134
    Profile photo of Anonymous
    Anonymous
    Participant

    No need to rely on what is seen and heard on TV, just look for yourself.
    Example, Post Office today offers 1.2011€

  • #80999
    Profile photo of Anonymous
    Anonymous
    Participant

    M&S 1.2008 today. no commission.

    There needs to be a modest redistribution of wealth from the older generations to young people; but these youngsters cannot get on the housing market.

    How would you suggest that is achieved…an age tax??

    We have distributed a modest amount of money to the younger generation…to our children…to help them onto the property ladder. I think parents who can afford to, do just that. Many parents pay University fees nowadays, something my parents generation did not have to do, nor did we.
    I feel very sorry for younger people today, but they expect everything from a very young age. A mobile phone at six. Computers, televisions, all the latest fashion.

  • #81136
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    Anonymous
    Participant

    M&S 1.2008 today. no commission.

    There needs to be a modest redistribution of wealth from the older generations to young people; but these youngsters cannot get on the housing market.

    How would you suggest that is achieved…an age tax??

    We have distributed a modest amount of money to the younger generation…to our children…to help them onto the property ladder. I think parents who can afford to, do just that. Many parents pay University fees nowadays, something my parents generation did not have to do, nor did we.
    I feel very sorry for younger people today, but they expect everything from a very young age. A mobile phone at six. Computers, televisions, all the latest fashion.

  • #81003
    Profile photo of Anonymous
    Anonymous
    Participant

    “There needs to be a modest redistribution of wealth from the older generations to young people” – Don’t know if this means just to their own children, if not, forget it. Teach them to work harder and they will learn it has benefits.

    “but these youngsters cannot get on the housing market.” – Why do “youngsters” need to. Work, earn, save, then worry about getting on the property ladder, when they can afford it.

    “We have distributed a modest amount of money to the younger generation…to our children…to help them onto the property ladder.” – OK, fine, benefits with IHT.

    “I think parents who can afford to, do just that.” – Sometimes and quite often.

    “Many parents pay University fees nowadays, something my parents generation did not have to do, nor did we.” – Some students had to be self supporting by having 3 jobs to do plus their studies, as no parents to fall back on, or parents without the money.

    “I feel very sorry for younger people today, but they expect everything from a very young age. A mobile phone at six. Computers, televisions, all the latest fashion.” – This is why I do not feel sorry for young people today. 17 year old means a car and not an old banger that they have to push to start and stick together with whatever they can afford.
    Mobile phone, for safety, yes, but why do they need to amble down the road chatting, when they will be meeting whoever in a few minutes. There again, the parents of many find it vital to have a gossip on the mobile whilst wandering around supermarkets.
    Teach them how to work, how to respect, how to have some self respect, all of which gives rewards.

  • #81140
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    Anonymous
    Participant

    “There needs to be a modest redistribution of wealth from the older generations to young people” – Don’t know if this means just to their own children, if not, forget it. Teach them to work harder and they will learn it has benefits.

    “but these youngsters cannot get on the housing market.” – Why do “youngsters” need to. Work, earn, save, then worry about getting on the property ladder, when they can afford it.

    “We have distributed a modest amount of money to the younger generation…to our children…to help them onto the property ladder.” – OK, fine, benefits with IHT.

    “I think parents who can afford to, do just that.” – Sometimes and quite often.

    “Many parents pay University fees nowadays, something my parents generation did not have to do, nor did we.” – Some students had to be self supporting by having 3 jobs to do plus their studies, as no parents to fall back on, or parents without the money.

    “I feel very sorry for younger people today, but they expect everything from a very young age. A mobile phone at six. Computers, televisions, all the latest fashion.” – This is why I do not feel sorry for young people today. 17 year old means a car and not an old banger that they have to push to start and stick together with whatever they can afford.
    Mobile phone, for safety, yes, but why do they need to amble down the road chatting, when they will be meeting whoever in a few minutes. There again, the parents of many find it vital to have a gossip on the mobile whilst wandering around supermarkets.
    Teach them how to work, how to respect, how to have some self respect, all of which gives rewards.

  • #81005
    Profile photo of mike
    mike
    Participant

    @peter Good wrote:

    Well the British Government are unambiguous regarding their pro migrant stance.

    A few weeks ago, a labour work and pensions minister was totally serious about Eastern European migrant workers bearing the burden of the UK pensions shortfall. With so many old people living longer and fewer young people contributing, it seems migrant workers are the answer.

    The interviewer negated the fact that most migrant workers are in the black economy such as agriculture and construction, they are paid in cash and contribute no taxes whislt claiming unemployment benefit and housing.

    Well, citizens of the new East European member states of the EU have to register in the UK and work here 12 months paying NI contributions before they can claim any unemployment benefit. It would be foolish for an East European not to register. Firstly, the quicker they register the sooner they will be entitled to claim benefits.

    Secondly, the jobs available in the black economy often pay wages below the national minimum wage which is why employers do it. Given that there are a lot of minimum wage jobs available why would someone want to work to earn less and at the same time postpone the date at which they could legally claim benefits? I could see an illegal immigrant doing that but not someone who could so easily be legal and gain far greater benefit from it whilst at the same time contributing to our economy.

    @peter Good wrote:

    Just how out of touch is NEW Labour???

    I would suggest that you think about it a bit more.

  • #81142
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    mike
    Participant

    @peter Good wrote:

    Well the British Government are unambiguous regarding their pro migrant stance.

    A few weeks ago, a labour work and pensions minister was totally serious about Eastern European migrant workers bearing the burden of the UK pensions shortfall. With so many old people living longer and fewer young people contributing, it seems migrant workers are the answer.

    The interviewer negated the fact that most migrant workers are in the black economy such as agriculture and construction, they are paid in cash and contribute no taxes whislt claiming unemployment benefit and housing.

    Well, citizens of the new East European member states of the EU have to register in the UK and work here 12 months paying NI contributions before they can claim any unemployment benefit. It would be foolish for an East European not to register. Firstly, the quicker they register the sooner they will be entitled to claim benefits.

    Secondly, the jobs available in the black economy often pay wages below the national minimum wage which is why employers do it. Given that there are a lot of minimum wage jobs available why would someone want to work to earn less and at the same time postpone the date at which they could legally claim benefits? I could see an illegal immigrant doing that but not someone who could so easily be legal and gain far greater benefit from it whilst at the same time contributing to our economy.

    @peter Good wrote:

    Just how out of touch is NEW Labour???

    I would suggest that you think about it a bit more.

  • #81009
    Profile photo of angie
    angie
    Spectator

    Two people today have told me they reckon the pound against the euro will be 1 for 1 by end of year, that it is being manipulated somehow so that the UK joins the euro too. Personally I think the ECB will have to lower interest rates by the end of the year so weakening the euro.

    At current or worse exchange rates for Brits., it´s going to have a large negative impact not only for Spanish property but anywhere in Euroland, we´re talking 20% extra now, can´t see the ECB etc putting up with that scene for too long.

    Maybe toss a coin then!

  • #81146
    Profile photo of angie
    angie
    Spectator

    Two people today have told me they reckon the pound against the euro will be 1 for 1 by end of year, that it is being manipulated somehow so that the UK joins the euro too. Personally I think the ECB will have to lower interest rates by the end of the year so weakening the euro.

    At current or worse exchange rates for Brits., it´s going to have a large negative impact not only for Spanish property but anywhere in Euroland, we´re talking 20% extra now, can´t see the ECB etc putting up with that scene for too long.

    Maybe toss a coin then!

  • #81152
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    Anonymous
    Participant

    @mike wrote:

    @peter Good wrote:
    Well the British Government are unambiguous regarding their pro migrant stance.

    A few weeks ago, a labour work and pensions minister was totally serious about Eastern European migrant workers bearing the burden of the UK pensions shortfall. With so many old people living longer and fewer young people contributing, it seems migrant workers are the answer.

    The interviewer negated the fact that most migrant workers are in the black economy such as agriculture and construction, they are paid in cash and contribute no taxes whislt claiming unemployment benefit and housing.

    Well, citizens of the new East European member states of the EU have to register in the UK and work here 12 months paying NI contributions before they can claim any unemployment benefit. It would be foolish for an East European not to register. Firstly, the quicker they register the sooner they will be entitled to claim benefits.

    Secondly, the jobs available in the black economy often pay wages below the national minimum wage which is why employers do it. Given that there are a lot of minimum wage jobs available why would someone want to work to earn less and at the same time postpone the date at which they could legally claim benefits? I could see an illegal immigrant doing that but not someone who could so easily be legal and gain far greater benefit from it whilst at the same time contributing to our economy.

    @peter Good wrote:

    Just how out of touch is NEW Labour???

    I would suggest that you think about it a bit more.

    That´s alittle nieve of you Mike to assume that Eastern Europeans all register before they arrive in the UK.

    You should listen to Europe today at 6pm and find out the real state of the illegal migrant market.

    There are dozens of busses moving these people to Europe, including the UK where the occupants have paid money for false papers and the trip. They already have their unemployment status set up up in Britain. They have proof of 1 years employment organised by their fellow countrymen already in the UK.

    It´s a big business, akin to the Triads doing the same thing for the Chinese. Human trafficking they call it!

    These Eastern Europeans are claiming dole and housing whilst working in sweatshops for their fellow countrymen for as little as 5gbp per day.

    The numbers are uncalculable though the figures are certainly rising at an alarming rate. These people are even working in government departments as cleaners and cooks etc.

    In Poland, you can pay €2500 to get yourself into Britain and onto the unemployment register. If you can´t pay the enrolement fee, you can work in a London sweatshop for 2 years to pay your mafia travel agent. (They are not ABTA registered!!)

  • #81015
    Profile photo of Anonymous
    Anonymous
    Participant

    @mike wrote:

    @peter Good wrote:
    Well the British Government are unambiguous regarding their pro migrant stance.

    A few weeks ago, a labour work and pensions minister was totally serious about Eastern European migrant workers bearing the burden of the UK pensions shortfall. With so many old people living longer and fewer young people contributing, it seems migrant workers are the answer.

    The interviewer negated the fact that most migrant workers are in the black economy such as agriculture and construction, they are paid in cash and contribute no taxes whislt claiming unemployment benefit and housing.

    Well, citizens of the new East European member states of the EU have to register in the UK and work here 12 months paying NI contributions before they can claim any unemployment benefit. It would be foolish for an East European not to register. Firstly, the quicker they register the sooner they will be entitled to claim benefits.

    Secondly, the jobs available in the black economy often pay wages below the national minimum wage which is why employers do it. Given that there are a lot of minimum wage jobs available why would someone want to work to earn less and at the same time postpone the date at which they could legally claim benefits? I could see an illegal immigrant doing that but not someone who could so easily be legal and gain far greater benefit from it whilst at the same time contributing to our economy.

    @peter Good wrote:

    Just how out of touch is NEW Labour???

    I would suggest that you think about it a bit more.

    That´s alittle nieve of you Mike to assume that Eastern Europeans all register before they arrive in the UK.

    You should listen to Europe today at 6pm and find out the real state of the illegal migrant market.

    There are dozens of busses moving these people to Europe, including the UK where the occupants have paid money for false papers and the trip. They already have their unemployment status set up up in Britain. They have proof of 1 years employment organised by their fellow countrymen already in the UK.

    It´s a big business, akin to the Triads doing the same thing for the Chinese. Human trafficking they call it!

    These Eastern Europeans are claiming dole and housing whilst working in sweatshops for their fellow countrymen for as little as 5gbp per day.

    The numbers are uncalculable though the figures are certainly rising at an alarming rate. These people are even working in government departments as cleaners and cooks etc.

    In Poland, you can pay €2500 to get yourself into Britain and onto the unemployment register. If you can´t pay the enrolement fee, you can work in a London sweatshop for 2 years to pay your mafia travel agent. (They are not ABTA registered!!)

  • #81176
    Profile photo of mike
    mike
    Participant

    @peter Good wrote:

    That´s alittle nieve of you Mike to assume that Eastern Europeans all register before they arrive in the UK.

    You should listen to Europe today at 6pm and find out the real state of the illegal migrant market.

    Please give me a link and I will do and I will report back with my findings

    Peter Good wrote:
    There are dozens of busses moving these people to Europe, including the UK where the occupants have paid money for false papers and the trip. They already have their unemployment status set up up in Britain. They have proof of 1 years employment organised by their fellow countrymen already in the UK.

    It´s a big business, akin to the Triads doing the same thing for the Chinese. Human trafficking they call it!

    Peter Good wrote:
    The East Europeans came to work here after they were given the right to work here, they were not here in any numbers beforehand. They are legal and paying their taxes. If you don’t recognise that you are either a liar or you are pretty delusional.

    I think you are delusional. I would not like you to advise anyone on any property related matters until you are certified as sane.

  • #81039
    Profile photo of mike
    mike
    Participant

    @peter Good wrote:

    That´s alittle nieve of you Mike to assume that Eastern Europeans all register before they arrive in the UK.

    You should listen to Europe today at 6pm and find out the real state of the illegal migrant market.

    Please give me a link and I will do and I will report back with my findings

    Peter Good wrote:
    There are dozens of busses moving these people to Europe, including the UK where the occupants have paid money for false papers and the trip. They already have their unemployment status set up up in Britain. They have proof of 1 years employment organised by their fellow countrymen already in the UK.

    It´s a big business, akin to the Triads doing the same thing for the Chinese. Human trafficking they call it!

    Peter Good wrote:
    The East Europeans came to work here after they were given the right to work here, they were not here in any numbers beforehand. They are legal and paying their taxes. If you don’t recognise that you are either a liar or you are pretty delusional.

    I think you are delusional. I would not like you to advise anyone on any property related matters until you are certified as sane.

  • #81180
    Profile photo of grinningdog
    grinningdog
    Participant

    @katy wrote:

    On TV todays it said tourists are being offered 118 to as low as 111 😯

    Hi

    First post: be gentle 😉

    Here’s a good link for comparing currency rates.
    http://travelmoney.moneysavingexpert.com/

    In fact the whole site is worth a look http://www.moneysavingexpert.com/

    I saved money on my broadband and am currently getting £100 back from my credit card company (yay!)

    Bob

  • #81043
    Profile photo of grinningdog
    grinningdog
    Participant

    @katy wrote:

    On TV todays it said tourists are being offered 118 to as low as 111 😯

    Hi

    First post: be gentle 😉

    Here’s a good link for comparing currency rates.
    http://travelmoney.moneysavingexpert.com/

    In fact the whole site is worth a look http://www.moneysavingexpert.com/

    I saved money on my broadband and am currently getting £100 back from my credit card company (yay!)

    Bob

  • #81182
    Profile photo of katy
    katy
    Spectator

    Peter has it just about right, don’t know what it has to do with his “property credentials”. Legal yes, taking more out of the system than they are paying in taxes.

  • #81045
    Profile photo of katy
    katy
    Spectator

    Peter has it just about right, don’t know what it has to do with his “property credentials”. Legal yes, taking more out of the system than they are paying in taxes.

  • #81188
    Profile photo of mike
    mike
    Participant

    @katy wrote:

    Peter has it just about right, don’t know what it has to do with his “property credentials”. Legal yes, taking more out of the system than they are paying in taxes.

    Bless

  • #81051
    Profile photo of mike
    mike
    Participant

    @katy wrote:

    Peter has it just about right, don’t know what it has to do with his “property credentials”. Legal yes, taking more out of the system than they are paying in taxes.

    Bless

  • #81196
    Profile photo of Anonymous
    Anonymous
    Participant

    From today’s Telegraph re the effect of the exchange rate on pensioners living in the Eurozone
    http://www.telegraph.co.uk/news/main.jhtml?xml=/news/2008/04/13/wexpat113.xml

  • #81059
    Profile photo of Anonymous
    Anonymous
    Participant

    From today’s Telegraph re the effect of the exchange rate on pensioners living in the Eurozone
    http://www.telegraph.co.uk/news/main.jhtml?xml=/news/2008/04/13/wexpat113.xml

  • #81198
    Profile photo of Anonymous
    Anonymous
    Participant

    Hi Grinningdog (Bob),

    Welcome to the Forum. 😀

    Thanks for those links – some useful stuff there.

    Always good to see how we can reduce our outgoings, especially in the current climate.

    Chris

  • #81061
    Profile photo of Anonymous
    Anonymous
    Participant

    Hi Grinningdog (Bob),

    Welcome to the Forum. 😀

    Thanks for those links – some useful stuff there.

    Always good to see how we can reduce our outgoings, especially in the current climate.

    Chris

  • #81239
    Profile photo of Anonymous
    Anonymous
    Participant

    @mike wrote:

    If you don’t recognise that you are either a liar or you are pretty delusional.

    I think you are delusional. I would not like you to advise anyone on any property related matters until you are certified as sane.

    Are you always this rude and unpleasant Mike?

  • #81091
    Profile photo of Anonymous
    Anonymous
    Participant

    @mike wrote:

    If you don’t recognise that you are either a liar or you are pretty delusional.

    I think you are delusional. I would not like you to advise anyone on any property related matters until you are certified as sane.

    Are you always this rude and unpleasant Mike?

  • #81249
    Profile photo of Anonymous
    Anonymous
    Participant

    Are you always this rude and unpleasant Mike?

    Yes, I think he is! 🙄

  • #81096
    Profile photo of Anonymous
    Anonymous
    Participant

    Are you always this rude and unpleasant Mike?

    Yes, I think he is! 🙄

  • #81280
    Profile photo of mike
    mike
    Participant

    @peter Good wrote:

    @mike wrote:

    If you don’t recognise that you are either a liar or you are pretty delusional.

    I think you are delusional. I would not like you to advise anyone on any property related matters until you are certified as sane.

    Are you always this rude and unpleasant Mike?

    I find blatant racism rude and offensive, Peter. You shoul be ashamed of yourself.

    However, I also think that blatant racism brings its own reward so I don’t usually comment except when it is stupid and blatant racism.

  • #81125
    Profile photo of mike
    mike
    Participant

    @peter Good wrote:

    @mike wrote:

    If you don’t recognise that you are either a liar or you are pretty delusional.

    I think you are delusional. I would not like you to advise anyone on any property related matters until you are certified as sane.

    Are you always this rude and unpleasant Mike?

    I find blatant racism rude and offensive, Peter. You shoul be ashamed of yourself.

    However, I also think that blatant racism brings its own reward so I don’t usually comment except when it is stupid and blatant racism.

  • #81284
    Profile photo of Anonymous
    Anonymous
    Participant

    @mike wrote:

    @peter Good wrote:
    @mike wrote:

    If you don’t recognise that you are either a liar or you are pretty delusional.

    I think you are delusional. I would not like you to advise anyone on any property related matters until you are certified as sane.

    Are you always this rude and unpleasant Mike?

    I find blatant racism rude and offensive, Peter. You shoul be ashamed of yourself.

    However, I also think that blatant racism brings its own reward so I don’t usually comment except when it is stupid and blatant racism.

    Mike, I am not with you regarding your post??

    Let´s let it go and return to the topic for everyone elses sake.

    Thanks anyway.

  • #81129
    Profile photo of Anonymous
    Anonymous
    Participant

    @mike wrote:

    @peter Good wrote:
    @mike wrote:

    If you don’t recognise that you are either a liar or you are pretty delusional.

    I think you are delusional. I would not like you to advise anyone on any property related matters until you are certified as sane.

    Are you always this rude and unpleasant Mike?

    I find blatant racism rude and offensive, Peter. You shoul be ashamed of yourself.

    However, I also think that blatant racism brings its own reward so I don’t usually comment except when it is stupid and blatant racism.

    Mike, I am not with you regarding your post??

    Let´s let it go and return to the topic for everyone elses sake.

    Thanks anyway.

  • #81300
    Profile photo of mike
    mike
    Participant

    @peter Good wrote:

    @mike wrote:
    @peter Good wrote:
    @mike wrote:

    If you don’t recognise that you are either a liar or you are pretty delusional.

    I think you are delusional. I would not like you to advise anyone on any property related matters until you are certified as sane.

    Are you always this rude and unpleasant Mike?

    I find blatant racism rude and offensive, Peter. You shoul be ashamed of yourself.

    However, I also think that blatant racism brings its own reward so I don’t usually comment except when it is stupid and blatant racism.

    Mike, I am not with you regarding your post??

    Let´s let it go and return to the topic for everyone elses sake.

    Thanks anyway.

    Good idea. I’m sorry if I overreacted but sometimes I think it’s unfair when someone has come to the UK legally and doing their bit to then be castigated as a scrounger.

    However, I also know that sometimes we need to let off steam and perhaps be a bit selfish or self centred because it seems that the world is against us.

    I should learn to bite my tongue sometimes.

  • #81145
    Profile photo of mike
    mike
    Participant

    @peter Good wrote:

    @mike wrote:
    @peter Good wrote:
    @mike wrote:

    If you don’t recognise that you are either a liar or you are pretty delusional.

    I think you are delusional. I would not like you to advise anyone on any property related matters until you are certified as sane.

    Are you always this rude and unpleasant Mike?

    I find blatant racism rude and offensive, Peter. You shoul be ashamed of yourself.

    However, I also think that blatant racism brings its own reward so I don’t usually comment except when it is stupid and blatant racism.

    Mike, I am not with you regarding your post??

    Let´s let it go and return to the topic for everyone elses sake.

    Thanks anyway.

    Good idea. I’m sorry if I overreacted but sometimes I think it’s unfair when someone has come to the UK legally and doing their bit to then be castigated as a scrounger.

    However, I also know that sometimes we need to let off steam and perhaps be a bit selfish or self centred because it seems that the world is against us.

    I should learn to bite my tongue sometimes.

  • #81173
    Profile photo of Anonymous
    Anonymous
    Participant

    A very gracious apology Mike. It’s refreshing! 😀 It’s good to see gentlemanly behaviour for a change. 😉

  • #81329
    Profile photo of Anonymous
    Anonymous
    Participant

    A very gracious apology Mike. It’s refreshing! 😀 It’s good to see gentlemanly behaviour for a change. 😉

  • #81203
    Profile photo of Anonymous
    Anonymous
    Participant

    The pound is struggling again today – just touched (for a few moments) 1.24 euro/£1.

  • #81350
    Profile photo of Anonymous
    Anonymous
    Participant

    The pound is struggling again today – just touched (for a few moments) 1.24 euro/£1.

  • #81207
    Profile photo of Anonymous
    Anonymous
    Participant

    No worries Mike, no apology needed.

  • #81352
    Profile photo of Anonymous
    Anonymous
    Participant

    No worries Mike, no apology needed.

  • #81213
    Profile photo of Anonymous
    Anonymous
    Participant

    Charlie where can you get €1.24/£1? The tourist rate appears at approx €1.20./£1

  • #81355
    Profile photo of Anonymous
    Anonymous
    Participant

    Charlie where can you get €1.24/£1? The tourist rate appears at approx €1.20./£1

  • #81219
    Profile photo of Anonymous
    Anonymous
    Participant

    @Claire wrote:

    Charlie where can you get €1.24/£1? The tourist rate appears at approx €1.20./£1

    I think €1.24 to 1 GBP is the commercial rate Claire. Though I expect most of the exchange providers will actually be giving €1.22 ish.

    I just overheard some English tourists passing my office complaining they got €1.13 from the BBVA atm machine.

  • #81358
    Profile photo of Anonymous
    Anonymous
    Participant

    @Claire wrote:

    Charlie where can you get €1.24/£1? The tourist rate appears at approx €1.20./£1

    I think €1.24 to 1 GBP is the commercial rate Claire. Though I expect most of the exchange providers will actually be giving €1.22 ish.

    I just overheard some English tourists passing my office complaining they got €1.13 from the BBVA atm machine.

  • #81225
    Profile photo of Anonymous
    Anonymous
    Participant

    Peter’s right Claire, it’s the real-time forex rate:
    http://www.dailyfx.com/charts/Chart.html

    Wait for the chart to appear which will be EUR/USD, click on ‘instruments’ and you’ll see EUR/GBP. Click on this.
    It’s a good way to see how much all the banks and Bureau de Change are ripping you off.

  • #81361
    Profile photo of Anonymous
    Anonymous
    Participant

    Peter’s right Claire, it’s the real-time forex rate:
    http://www.dailyfx.com/charts/Chart.html

    Wait for the chart to appear which will be EUR/USD, click on ‘instruments’ and you’ll see EUR/GBP. Click on this.
    It’s a good way to see how much all the banks and Bureau de Change are ripping you off.

  • #81234
    Profile photo of Anonymous
    Anonymous
    Participant

    Thanks guys! 1.13€ from the BBVA atm machines!! 😯 😯 Yikes!!

  • #81365
    Profile photo of Anonymous
    Anonymous
    Participant

    Thanks guys! 1.13€ from the BBVA atm machines!! 😯 😯 Yikes!!

  • #81250
    Profile photo of Anonymous
    Anonymous
    Participant

    Or you can use http://www.xe.com

    Interbank rates refreshed every minute

  • #81373
    Profile photo of Anonymous
    Anonymous
    Participant

    Or you can use http://www.xe.com

    Interbank rates refreshed every minute

  • #81312
    Profile photo of katy
    katy
    Spectator

    Pound seems to have hit a new low today. Just wondered, did any of the well known forecasters predict the euro strengthening? I remember a couple of years ago there was some talk of the Euro collapsing.

    Must admit the falling pound is making some things look expensive here. Just unwrapped some medium sized apples and I realised they cost 50 GB pence each!

  • #81405
    Profile photo of katy
    katy
    Spectator

    Pound seems to have hit a new low today. Just wondered, did any of the well known forecasters predict the euro strengthening? I remember a couple of years ago there was some talk of the Euro collapsing.

    Must admit the falling pound is making some things look expensive here. Just unwrapped some medium sized apples and I realised they cost 50 GB pence each!

  • #81409
    Profile photo of Anonymous
    Anonymous
    Participant
    katy wrote:
    Pound seems to have hit a new low today.

    It is because of this:

    http://www.bloomberg.com/apps/news?pid=20601068&sid=atE73qPz56mU&refer=economy

  • #81320
    Profile photo of Anonymous
    Anonymous
    Participant
    katy wrote:
    Pound seems to have hit a new low today.

    It is because of this:

    http://www.bloomberg.com/apps/news?pid=20601068&sid=atE73qPz56mU&refer=economy

  • #81415
    Profile photo of Anonymous
    Anonymous
    Participant

    Inflation will continue especially food. I forecast a 15% rise in food prices a few months ago and now think this may be on the low side. Long term (as China and India especially, become wealthier)worldwide food supplies are going to be in short supply. In the last few years red meat consumption in China alone has risen by almost 30%. In the Last year Soya has risen in price by 90% and Wheat by 140% because of demand from these countries. On the other hand I think we probably have had our food too cheap in the past and it is now going to catch up.

  • #81332
    Profile photo of Anonymous
    Anonymous
    Participant

    Inflation will continue especially food. I forecast a 15% rise in food prices a few months ago and now think this may be on the low side. Long term (as China and India especially, become wealthier)worldwide food supplies are going to be in short supply. In the last few years red meat consumption in China alone has risen by almost 30%. In the Last year Soya has risen in price by 90% and Wheat by 140% because of demand from these countries. On the other hand I think we probably have had our food too cheap in the past and it is now going to catch up.

  • #81416
    Profile photo of Anonymous
    Anonymous
    Participant

    So time to plant those veggies/fruit trees and install pv solar panels!
    We’ve started making our own bread (cheating with a bread-making machine). Forget the money it saves, goodness it tastes great – especially the olive loaf. Set the timer in the evening and wake up to the smell of freshly-baked bread – sure beats the shop stuff. I think that as food prices rise even further, many will turn to the odd bit of DIY food-wise and will be pleasantly surprised how satisfying it is.

    On a more serious note, I found watching on tv the recent riots in Haiti over rice prices quite upsetting and wonder if scenes like this are going to become commonplace as prices continue to rise.

    Euro currently on 1.238 and struggling.

  • #81334
    Profile photo of Anonymous
    Anonymous
    Participant

    So time to plant those veggies/fruit trees and install pv solar panels!
    We’ve started making our own bread (cheating with a bread-making machine). Forget the money it saves, goodness it tastes great – especially the olive loaf. Set the timer in the evening and wake up to the smell of freshly-baked bread – sure beats the shop stuff. I think that as food prices rise even further, many will turn to the odd bit of DIY food-wise and will be pleasantly surprised how satisfying it is.

    On a more serious note, I found watching on tv the recent riots in Haiti over rice prices quite upsetting and wonder if scenes like this are going to become commonplace as prices continue to rise.

    Euro currently on 1.238 and struggling.

  • #81418
    Profile photo of Anonymous
    Anonymous
    Participant

    Today’s tourist rate from the PO
    For £1 you will receive 1.20 €

  • #81338
    Profile photo of Anonymous
    Anonymous
    Participant

    Today’s tourist rate from the PO
    For £1 you will receive 1.20 €

  • #81745
    Profile photo of Anonymous
    Anonymous
    Participant

    Food inflation of 15% has come to the UK sooner than I thought. This figure has just been announced on teletext today.

  • #81746
    Profile photo of Anonymous
    Anonymous
    Participant
    jwc wrote:
    Food inflation of 15% has come to the UK sooner than I thought. This figure has just been announced on teletext today.

    15% should be a very optimistic figure. Milk is at least 40% more than April 2007, bread almost double, cheese is 30% more, apples 30% more.

    Is there any type of food which has not increased by at least 10% since
    April 2007?

    How the hell are they reaching the 2.5% CPI figure?????

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