miltiades wrote:Paphitis wrote:miltiades wrote:dinos wrote:miltiades wrote:The euro has withstood some of the worlds worst financial repercussions as a result
of the incompetent Greeks the carefree Spanish the careless Irish and the laid back Portugese
it is , the euro , the worlds most dynamic currency having taken over from the once mighty
US $ , Germany which for years now has been the worlds largest exporter ,
only last year second to china , has a great deal to gain by supporting the weaker economies
withing the eurozone .
Posting using my iPhone so no spell check !!!!
Ps: how do to you spell blonger ?!!!!!
OK, you're going a bit too far here. It's true that the US Peso has taken a drubbing the last 5 years or so, but I would hardly say that it's been replaced by the Euro. How many countries peg their currencies to USD? And many peg to the Euro? OK, that's what I thought...
Any exporting country such as Germany would want a cheap home currency to give their exports an edge over competing countries. It just seems like the Euro cheerleading isn't quite taking this into account. But while we're on this subject, my crystal ball is showing me a picture where the yuan replaces both USD
and the Euro. This will bring both currencies down substantially and won't be pretty for either one.
As far as Euro benefits to Cyprus, it sure does seem like that 15% VAT is earning everyone a trend of increasing crime, problems with illegal immigration, etc, etc. At this rate, we should be fast-tracking the Turks into Euroland with every bit of zeal we can muster!
The Euro has steadily been replacing the US $ as the top global currency. In reality the dollar still is the most widely held currency having dropped from around 70% down to just over 62% while the Euro now stands at around 27% . Given the fact that the worlds largest oil produces still peg their currencies to the $ , only just , with Saudi Arabia leading the field influenced not by economics but by political influences. Not long ago Alan Greenspan predicted that the Euro would replace the dollar in due course.
Do remember that the Euro is still in its embryonic state and it has to face severe tests to determine its resistance to adverse financial developments in the less well off member states.
There is no doubt that sooner rather than later the share of the Euro will increase as it is already doing so at the moment. The oil producing countries with their huge dollar reserves are in my opinion keeping the dollar as the most widely held reserve currency.
I beg to differ. The Euro isn't even mentioned on Australian Currency exchanges because we don't peg the Aussie dollar to it, and are far more interested in Asian Markets anyway!
Also, the Euro is not doing too well when compared to the Tiger Economies of Asia and the Australian Dollar! In about a year, the Australian Dollar has gained 30% on the Euro, which means that the EU is in a lot of trouble, as is the US Dollar and GBP. The Australian Dollar is about to surpass the USD within the next few weeks. The bright sparks are in Asia, and they're driving Australian Commodity prices through the roof!
They manufacture goods, we sell them the Energy and materials and then we buy those goods from them at a cheap price. That is how the Global Economy is going!
Sorry mate but the Aussie Dollar doesn't exactly fit into the European and American currency platforms !!!
As you know China takes payment in dollars , STG and Euro !!
The Euro today is trading at 1.143 against STG , MMR rate .It looks as if my earlier forecast of the pound trading at below 1.13 euros might just be around the corner. Frankly I think the UK has very acute financial problems right now which have an adverse affect on STG .
What is this obsession with the Sterling/Euro exchange rate?
The currencies are trading ay similar levels to where they were not that long ago i.e. just a matter of months ago, not this matters one hoot.
With the market anticipating that the euro interest rate will have to rise to help deal with part of its problems and with the quantitive easing measures taken in the US and UK effecting the currencies of both of these countries it is no surprise that the euro is appreciating against the US$ and £Stg. Attracting speculators who flit in and out of currencies looking for higher interest rates may increase the value of the euro in the short term but does not hide the fact that the sustainability of the euro remains in question.
Do you recall your confident prediction at the beginning of last year of how far the £ would rise against the euro before the end of that year and how wrong you were?
Sorry mate but I think you're confusing a verbal discussion between two peasants containing "scala", and the OFFICIAL 
