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The Euro going down again

ASL Member Founding Member Post #10901 Replies closed

Once again the Euro is sliding against the pound,The rate at this moment is just over 1.21 Euros to the pound,Making the pound the strongest it has been.for about 18 months,this will bring some respite to ex-pat pensioners,as they will receive more euros to their pounds.Not so good for those selling or trying to sell houses in Spain or having to go back to U.K.and changing what euros they have left into Sterling.
Does anybody on this Forum have any ideas on how to prepare for the scenario,of a few countries having to drop out of the Euro (including Spain)how to actually get through it without losing another pile of money,or are we prepared to not think about it and bury our heads in the sand.

Comments

Keep your money in £s and only exchange when the rate is good.

ASL Member Founding Member 2012-01-05

That would be a start,but is sterling safe,The mess the U.K. is in is possibly being overshadowed by the mess the Eurozone is in,or as was once said in the U.K. this is a great time to bury bad news.I also thought that although the the euro is used in all eurozone countries,each one has a designated homeland,i.e the number for all Spanish notes start with the letter V,for German notes they start with the letter X and so on,so on the presumption that Spain would devalue and or Germany would re value,is their any sense in saving German Euronotes and making sure you always spend the currency of the weaker Nations

ASL Member Founding Member 2012-01-05

Thats a very good point, re the Euros from different places.
As the the £ if you look back in history it has always come out on top and I think it always will. Being out of the Euro and now our new problems will push us (England) away from the problem. I bought Euro 1 week ago in the U.K I got 1.13 I have just got back from town (England) and its 1.16

ASL Member Founding Member 2012-01-05

The end of the day the Euro has no true value
and the Stirling has. Just how is the Sterling only
worth £1.20 against the Euro in Spain when before Sterling was worth nearly double to the
Peseta, just what had changed?.
Regarding property that would normally devalue
when there is a recession in any country

ASL Member Founding Member 2012-01-05