Pound still crashing

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Nope, apparently not!

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By jove… I think she’s got it!

Thanks Graham! :hugs:

:fireworks: :fireworks: :congratulations:

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Just a note about the original topic. The UK pound.

Some will recall exchange controls, I do. These were imposed to protect the pound. These would you believe only ended in 1979 after Britain had joined the EU!

The following comment will only apply to very few if any, but here goes.

If you have “rainy day” money held in sterling in a British bank if (I repeat if) exchange controls were imposed you would lose the ability to transfer this money out of the UK. Better to have those pounds in a sterling account in a French Bank.

I can see them being reintroduced - but only so long as they dont affect the like of Mogg-Shit and all the other of his ilk who are coining it in on the back of a weak pound.

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any of them wheelbarrow manufacturers? Perhaps Dyson will build an electric one :thinking:
In the far east, of course…

“Will of the” uninformed “People” or so it is said.

The euro falling is not a “good thing” for everyone.

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Too right! I, like many, live and have worked in France for several years but do not have any pension or income from the UK.
A falling Euro would most definitely not be a good thing for me and others like me!

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Tell me about it!!! I have just bought 340,000 Euros at 1.0651. Of note, the advice was that it was not going to get better soon. Thank you Boris.

We had something similar but not quite so much and not quite so low - - - - - then because you know all about exchanging money someone asks where is the best place to get 500 euro spending money for holiday cash - in reality there is about £5 in it either way.

I feel your pain!

Ouch!
Theresa May called the 2017 general election about 6 weeks before our money was due for our house so we got ours on a ‘spike’ of 1.18.

It has steadied a bit, back to 1.08 approx and Transferwise quoting 1,073.91€ net for £1000.

I don’t want to know if it improves now. Fingers in ears, saying La La La.

Gavin Collinson

07557 440229

My daughter is getting organised to leave home for uni, and has just asked me about transferring the money saved for her during her early childhood in the UK to her new French bank account. The fall in £ has more than wiped out all the interest etc received over the last 18 years anyway - now she’s asking me whether it’s better to transfer it now or wait to see if the rate improves…
Any advice?

If she doesn’t need to transfer the lot in one go, then do it on an as necessary basis keeping a watchful eye on the rate.
Perhaps also consider a prepaid currency card which can equally be loaded as required.

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Yanis Varoufakis’s analysis
https://www.express.co.uk/news/uk/1156338/eu-news-pound-to-euro-exchange-rate-gbp-sterling-no-deal-yanis-varoufakis-spt of the sterling euro exchange rate is that “investors” consider that the euro’s days are numbered and they are buying euros, depositing them in German Banks so that when the euro sheds its disguise and reveals its true identity - the Deutschmark they profit.
The exchange rate is determined by gamblers not by the strength of the underlying economy. Perhaps, someone can explain to me where the gamblers add value to an economy.
This is credible. A traveller in the UK ,France and Spain can compare where the countries are today compared with five years ago.
Spain is quietly recovering. There are many empty shells of residential development that will never be occupied, but in the last 12 months I have seen the start of new apartment blocks.
Perhaps I am not looking in the right places in France, but I do not observe a buoyant, growing economy. The GJ protests may have quietened, but has the French government addressed the undlying causes of their greivances?
In the south-east of the UK there are many residential developments. These are not “starter homes” as they typically start for a one bed-roomed apartment at £250,000.
Depositing capital in German banks is good for German banks. But, it exposes the EU’s failure to tackle tax evasion. Tax evasion is more than a “privileged sport” where through enforced austerity the weak pay for those privileges , but an issue that Europe must collectively address. Large multi-national conglomerates creatively melt national boundaries and evade tax. Wealthy individuals move their undeclared, un-taxed, wealth across national boundaries. A simple approach is to require a deposit taker to notify their resident taxation authority of whenever a “large sum” is deposited.
Macron and Merkel publicly identified their ambitions in the Aachen Treaty, the signature ceremony was attended by both Juncker and Tusk. Perhaps someone can explain why the French elite continue to delude themselves that they are equal partners with the Germans. As a percentage of the DPP France’s National Debt is 97 % compared with Germany’s 64%. As Yanis identifies the Deutschmarks will be stronger than any of the other European currencies because of the country’s “huge account surplus”.
Will it get worse? It will not get better if the 80% of the population that own less than 20% of the wealth accept it as inevitable!

and in more good news for BREXITEERS the NHS is gearing up to charge young healthy European migrants for healthcare so expect the same for elderly retired UK expats with their dwindling resources in France. So many good things coming from BREXIT

and every good reason to keep away from that god awful little island off the coast of Europe. :roll_eyes: