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Post by westhamtony on Feb 24, 2009 1:02:48 GMT 2
Good Friend that works for a top city institution tells me that there are strong rumours floating around that the Euro may be devalued by up to 25% before the end of May! Don't shoot the messenger
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Post by joolsd on Feb 24, 2009 1:08:06 GMT 2
Hi, blimey we better start getting them now then!, not going away till end of aug, julie
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Post by artisans on Feb 24, 2009 9:43:31 GMT 2
Hi Julie – my first message is don’t panic! Tony’s news is what we have all been waiting for. I’m no expert in money matters but we have been speculating on this for a few weeks. It is confusing, but it is the weakness of the GB pound that has caused the exchange rate to fall and a corresponding devaluation in the euro will make things better for tourists.
UK surveys are saying that almost 50% of the population will take a holiday outside of Europe or stay at home this year because of the exchange rate. Regardless of the exchange rate, we believe that such holidays will still cost more and deliver less, but it does show the strength of clever marketing.
Let’s try to put things into perspective. It is the strength of the euro and the collapse of the GB pound that is causing the problem. The euro has performed well because of the strength of its member countries, but all that may be about to change. The GB pound, on the other hand, has slumped because of the influence in the UK of the United States.
It is predicted that sharp rises in unemployment in European member countries will force certain of those countries to contest the policies that maintain the current strength of the euro. If they begin to disagree, and fiscal policies change, then the value may tumble.
If Tony’s rumour becomes fact, by this summer visitors to Roda may once again be getting more than 1.40 euros to the GB pound.
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pete sant
Roda Anorak
Roda Riddler 2008
UNITED - NOT ARROGANT - JUST BETTER
Posts: 6,977
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Post by pete sant on Feb 24, 2009 11:14:59 GMT 2
Let's all hope that this does happen & sooner rather than later, i say this not just from a personal level, but in the hope that the whole village will benefit, not only from more visitors but from those people having 40% more cash to spend in the restaurants bars & shops. The drop in the exchange rate saw everywhere much quieter at night in September than it was in June last year as people have only got so much money to spend, and if you have to cut back it's the last couple of drinks at night that is the first thing to go. Fingers crossed. pete.
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