Cyprus-Forum.com

[miltiades]

What I find rather odd is that, listening to LBC, most callers repeat the determination of Britain to ...respect the wishes of the majority of Gibraltarians just as the wishes of the Faulklanders were ...respected!!! How odd that the wishes of the Cypriot people as well as the wishes of people in more than 35 nations that were under British rule were ignored and labelled as ....terrorists.

I stated earlier that in five or ten years down the line a real possibility of a war breaking out, once again, in Europe can not be ruled out. Here we have a former conservative leader as well as a high ranking military man embarking on inflammatory comments concerning Spain over the Gibraltar issue. As a Brit myself I dont give a damn who rules 30,000 people living in Gibraltar or indeed who rules the Falklands. My main concern is that peace in Europe could become fragile in the near future.

[Tim Drayton]

What I find rather odd is that, listening to LBC, most callers repeat the determination of Britain to ...respect the wishes of the majority of Gibraltarians just as the wishes of the Faulklanders were ...respected!!! How odd that the wishes of the Cypriot people as well as the wishes of people in more than 35 nations that were under British rule were ignored and labelled as ....terrorists.

I stated earlier that in five or ten years down the line a real possibility of a war breaking out, once again, in Europe can not be ruled out. Here we have a former conservative leader as well as a high ranking military man embarking on inflammatory comments concerning Spain over the Gibraltar issue. As a Brit myself I dont give a damn who rules 30,000 people living in Gibraltar or indeed who rules the Falklands. My main concern is that peace in Europe could become fragile in the near future.

Who would have thought that those of us who praised the EU for having brought peace and stability to our continent would be vindicated in such a short time? As far as I know, since the so-called Third Cod War of 1976 (and, even then, Iceland is not a member of the EU) not a word has been spoken in threat or a sabre rattled between any European countries. A few days since the disastrous move of invoking Article 50, and rhetoric of war has already raised its ugly head, stoked up by the likes of Rupert Murdoch.

[Robin Hood]

With a day or so to invoking Article 50 the Pound is set to reach new lows currently at at just over 1.21 to the dollar and just under 1.14 to the euro. The markets are beginning to react unfavourably driving the pound down. Just before the Brexit vote the pound stood against the dollar at over 1.45 and against the Euro at over 1.38.

Anyone who this that in economic terms exiting the EU will be beneficial to the UK is day dreaming.

The main reason is that the vast majority of Brits, mostly English, do not like the EU for no other reason than pseudo nationalist pride. Many believed that our laws were made by the EU and that we had lost our sovereignty. Now ....we have our country back !!!

A nations economic strength reflects the strength or weakness of its currency, inflation already on the up will spiral out of control. UK citizens in receipt of STG pensions overseas will be hit hard, so will will British tourists visiting overseas countries.

The question that I ask is what tangible benefits will the UK attain by not being a part of the worlds largest free market, excluding the nonsense of having our country back and enacting our own laws.

Your only hope is to Brexit as per their own terms. Very doubtful.
Haven't you converted your savings so far??? What were you waiting for?

I converted long ago.
Robin, I must .....agree with you that the fall of stg has ....nothing to do with Brexit!!
Of course Im joking , Brexit IS the reason that sterling has slipped and will continue to do so.
Frankly I can not be an optimist although by nature Im one. I do not see that abandoning the biggest market in the world will be anything but disastrous for our UK economy.

Besides economic reasons I have always believed that a united Europe is good for the continent and for the people.

From the first page of the thread .........

I told you not to be so gloomy with your predictions! After Mays about turn on a General Election ....... the GBP has risen and is currently trading at 1.1924 to the Euro ......... is that due to Brexit or just a coincidence?

The uncertainty in the French elections is forcing the Euro down against the Pound. Good news ..... it can only get better as the benefits of not being in the Federal States of Europe become more apparent and more countries take up the resistance to the Eurocrat's like Junker.

Oh ye of little faith.

[miltiades]

As the mighty euro surges ahead againts us dollar , currently just over 1.18 $ and against Sterling at just over 1.10 , one wonders how long before one euro will equal 1 Stg.

This fall of Stetling has little to do with .....Brexit !! So some members said a few months ago !!!

Brexit will go down in British history as the darkest day this century.

[Robin Hood]

As the mighty euro surges ahead againts us dollar , currently just over 1.18 $ and against Sterling at just over 1.10 , one wonders how long before one euro will equal 1 Stg.

This fall of Stetling has little to do with .....Brexit !! So some members said a few months ago !!!

Brexit will go down in British history as the darkest day this century.

The drop was due to the BoE decision not to change interest rates .... apparently the lowest for 300 years. Makes you wonder how the bankers are making so much money with these interest rates?

You have been saying that since the start of the thread ....... the GBP will recover, believe me! According to analyst's both the USD and the Euro are very shakey,

[miltiades]

Mark my words mate. The days of £1 = €1 plus ate coming to an end. Therecis nothing shaky about the euro, well up on the dollar and other currencies.
Brexit started the demise of sterling.

[Pyrpolizer]

As the mighty euro surges ahead againts us dollar , currently just over 1.18 $ and against Sterling at just over 1.10 , one wonders how long before one euro will equal 1 Stg.

This fall of Stetling has little to do with .....Brexit !! So some members said a few months ago !!!

Brexit will go down in British history as the darkest day this century.

The drop was due to the BoE decision not to change interest rates .... apparently the lowest for 300 years. Makes you wonder how the bankers are making so much money with these interest rates?

You have been saying that since the start of the thread ....... the GBP will recover, believe me! According to analyst's both the USD and the Euro are very shakey,

how would it rise by changing interest rates??
I agree the USD and the Euro are shakey, but is the GBP really independent? Imo all these currencies as a group will buy less ans less no matter what their relation to each other.

[Robin Hood]

As the mighty euro surges ahead againts us dollar , currently just over 1.18 $ and against Sterling at just over 1.10 , one wonders how long before one euro will equal 1 Stg.

This fall of Stetling has little to do with .....Brexit !! So some members said a few months ago !!!

Brexit will go down in British history as the darkest day this century.

The drop was due to the BoE decision not to change interest rates .... apparently the lowest for 300 years. Makes you wonder how the bankers are making so much money with these interest rates?

You have been saying that since the start of the thread ....... the GBP will recover, believe me! According to analyst's both the USD and the Euro are very shakey,

how would it rise by changing interest rates??

The actual interest rate makes no difference at all ....... but it is the flag for currency speculators to sell Sterling and buy another 'safe' currency. The dollar is dropping against both the Euro and GBP so they bought Euro's and up went the price of the Euro. Tantamount to what happened with the Brexit vote, the result didn't drop the value of the GBP ..... the speculators did.

I agree the USD and the Euro are shakey, but is the GBP really independent? Imo all these currencies as a group will buy less ans less no matter what their relation to each other.

The GBP is a sovereign currency ! Think about that and look at Japan. They have a huge state debt but don't care because, not being in the EU they could create enough money overnight to pay of that debt. That is what Werner did, he created Quantitative Eeasing as it should be used ........ directly into the Japanese economy and it worked .......... Corbys version of QE would do exactly the same thing for the UK.

Effectively, the UK could do the same now and reduce its public debt (Government) and thus reduce the amount of interest they pay to the banks. But EU regulations specifically prevent us doing this, for the obvious reason that the banks would lose out! This is why Cyprus ended up with the 'bail-in' .... they no longer had the option to buy up their own debt i.e. IMF/ECB/EU enforced default on the banks liabilities ...... i.e. their debts to their customers.

[miltiades]

Robin, whether you agree or not the impact of Brexit affected the euros in your pocket and in thousands of expats.
Speculators have always affected currency movements and were always dictated by events that could be detrimental to a nations currency ie Brexit !

[Robin Hood]

Milti:

Robin, whether you agree or not the impact of Brexit affected the euros in your pocket and in thousands of expats.
I don’t argue with your perception of the result, we only differ in our perception of the cause.

As you say in the next paragraph, speculation has always been the reason currency values change and in small numbers it is not that much of a problem. But speculators need an excuse to make large volume purchases or selling off of currencies. In the case of Brexit the prophecies of doom-and-gloom were what gave them that excuse. Because at that point the result changed nothing ............ it was the fear of what MIGHT happen that was the ammunition the speculators needed.

It turned out not to be true and the excuse of those that voted to remain changes from everything will collapse as an instantaneous economic Armageddon .......... to a case of “.....well actually it won’t happen for two year at least.”

Look at what is happening in the US. IMO: Trump is being investigated for what I think are false accusation regarding Russia. They have yet to provide evidence but the mere accusation is a good excuse for speculators. Add to that the new sanctions on Russia, which could well misfire on the US and quite dramatically, and down it goes. But nothing has actually changed as yet, so in my book shackle the speculators (Tobin Tax?) and the problem of currency speculation diminishes.

Speculators have always affected currency movements and were always dictated by events that could be detrimental to a nations currency ie Brexit !

I have no argument with that as you are saying what I am saying ...... the word COULD makes it speculation of something that might never happen, no predictions in the financial world are definitive. What is needed is a curb on speculators like there was when we were on the Gold standard ..... plus, of course, a complete revamp of the banking system.