Exchange rate

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    • #53820
      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
      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
      Anonymous
      Participant

      Is this perhaps an April Fool joke, Maximus?

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

    • #80405
      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
      Anonymous
      Participant

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

    • #80408
      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
      Anonymous
      Participant

      APRIL FOOL 😆

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

    • #80415
      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
      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
      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
      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
      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
      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
      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
      Anonymous
      Participant

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

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

    • #80448
      katy
      Blocked

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

    • #80457
      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
      Anonymous
      Participant

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

    • #80467
      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
      Anonymous
      Participant

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

    • #80492
      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
      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
      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
      Anonymous
      Participant

      1:1 Joke getting less funny by the day

    • #80789
      Anonymous
      Participant

      1:1 Joke getting less funny by the day

    • #80994
      katy
      Blocked

      Which joke would that be?

    • #80793
      katy
      Blocked

      Which joke would that be?

    • #81016
      Anonymous
      Participant

      See first message on this thread posted 1st April.

    • #80815
      Anonymous
      Participant

      See first message on this thread posted 1st April.

    • #81026
      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
      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
      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
      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
      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
      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
      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
      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
      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
      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
      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
      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
      katy
      Blocked

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

    • #81128
      katy
      Blocked

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

    • #80997
      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
      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
      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
      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
      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
      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
      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
      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
      angie
      Blocked

      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
      angie
      Blocked

      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
      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
      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
      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
      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
      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
      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
      katy
      Blocked

      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
      katy
      Blocked

      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
      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
      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
      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
      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
      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
      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
      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
      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
      Anonymous
      Participant

      Are you always this rude and unpleasant Mike?

      Yes, I think he is! 🙄

    • #81096
      Anonymous
      Participant

      Are you always this rude and unpleasant Mike?

      Yes, I think he is! 🙄

    • #81280
      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
      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
      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
      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
      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
      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
      Anonymous
      Participant

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

    • #81329
      Anonymous
      Participant

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

    • #81203
      Anonymous
      Participant

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

    • #81350
      Anonymous
      Participant

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

    • #81207
      Anonymous
      Participant

      No worries Mike, no apology needed.

    • #81352
      Anonymous
      Participant

      No worries Mike, no apology needed.

    • #81213
      Anonymous
      Participant

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

    • #81355
      Anonymous
      Participant

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

    • #81219
      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
      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
      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
      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
      Anonymous
      Participant

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

    • #81365
      Anonymous
      Participant

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

    • #81250
      Anonymous
      Participant

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

      Interbank rates refreshed every minute

    • #81373
      Anonymous
      Participant

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

      Interbank rates refreshed every minute

    • #81312
      katy
      Blocked

      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
      katy
      Blocked

      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
      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
      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
      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
      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
      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
      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
      Anonymous
      Participant

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

    • #81338
      Anonymous
      Participant

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

    • #81745
      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
      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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