The future of the Euro?

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    • #54232
      Anonymous
      Participant

      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?

    • #85659
      Inez
      Participant

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

    • #85662
      Anonymous
      Participant

      😯

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

    • #85663
      Anonymous
      Participant

      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.

    • #85664
      Anonymous
      Participant

      😆

      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??

    • #85665
      Anonymous
      Participant

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

    • #85666
      katy
      Blocked

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

    • #85670
      Anonymous
      Participant

      buy houses…

    • #85672
      Anonymous
      Participant

      Behave yourself Lenox. 🙄

    • #85674
      Anonymous
      Participant

      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 ?

    • #85675
      Anonymous
      Participant

      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

    • #85683
      Anonymous
      Participant

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

    • #85687
      Anonymous
      Participant

      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

    • #85754
      Anonymous
      Participant
      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.

    • #85755
      mike
      Participant

      @135yearswaiting wrote:

      Certainly exciting times.

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

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