[Anonymous]

An interesting comment posted by a DT reader following the article
“Morgan Stanley issues alert on Spanish banks” in Pablo’s Daily Telegraph link.

“It is time to sell the Euro hard; I see 1.25 by year-end and eurogbp at 0.73 making sterling 1.7100. Throughout 2009 the dollar will strengthen further to 0.9500 to the Euro and cable to 1.4850

There are chances in life one must take and this is one of them”.

As someone who feels lucky to be out of the housing market at the moment but with everything sitting in Euros in the bank, I am interested in members’ views on the above statement.
Is it a good time to get out of the Euro and into another currency?

[Inez]

Go for shoes Charlie. You at least know you will get some wear out of them and the sales are on just now!! 😆

[Anonymous]

😯

Have you been chatting with Claire, Inez……? 🙄

[Anonymous]

No!…. but she’s a girl after my own heart..obviously! 😆

Buy goats, Charlie 😉

Yannis is now handing out leaflets at the airport offering a kilo of his finest goat ribs free to everyone who visits the office. Has to be a sure-fire winner, they’re scrummy.

[Anonymous]

😆

I live in flip flops Claire, remember! Only Havaianas of course.
Anyone with any sensible thoughts regarding an alternative to the Euro ????

Pablo, where are you??

[Anonymous]

OK. Serious now. 😯 Gold and Silver are supposed to be good investments…not candlesticks though!
Maybe Krugerrands?

[katy]

My money has always been invested in the UK. and Gibraltar. I only buy euros when I need them

[Anonymous]

buy houses…

[Anonymous]

Behave yourself Lenox. 🙄

[Anonymous]

charlie, remember when britain tried to pull out of the exchange rate mechanism many years ago ? The government believed the pound was being undervalued and thought they could play the markets to their advantage. They became unstuck and lost billions. No-one can forecast the trends. Don’t have all your cash in euro’s, don’t have it all in one country or one bank. diversify and survive.

However, I do have a ‘no lose’ property development going on in lagos if you are interested ?

[Anonymous]

Charlie,

That rate by end of 2008 sounds a bit ambitious to me. Greater minds at RBS have an opinion; see their July 2008 forecast at ->

http://www.rbs.com/content/economic/downloads/world/forecast0708.pdf

[Anonymous]

Thanks to everyone for their replies. Think I will just sit tight for the moment and ‘wait and see’.

[Anonymous]

Hi Charlie

After both the BOE and ECB both kept there respective rates unchanged today the pound has crept up to nearly 1.27, I think this will be the trend for the next few months with liitle change likely to intrest rates due to fears of inflation against resession. If the BOE and ECB rate keep at the same margin the pound will edge stronger because every body knows there is only one power in euro land and its not Spain

Only my opinion

Steve V

[Anonymous]

Stevev6 wrote:

Hi Charlie

After both the BOE and ECB both kept there respective rates unchanged today the pound has crept up to nearly 1.27, I think this will be the trend for the next few months with liitle change likely to intrest rates due to fears of inflation against resession. If the BOE and ECB rate keep at the same margin the pound will edge stronger because every body knows there is only one power in euro land and its not Spain

Only my opinion

Steve V

Daily Telegraph very bearish AS USUAL about Europe and the Euro in general and Spain in particular.

http://www.telegraph.co.uk/money/main.jhtml?xml=/money/2008/08/15/cneuro115.xml&CMP=ILC-mostviewedbox.

Certainly exciting times.

[mike]

@135yearswaiting wrote:

Certainly exciting times.

Wait until we go into recession, that’s when it starts getting bad

[Author]

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