Pound versus the Euro

[Eggy]

There seems to be a major battle going on right now between these two currencies.

Concerns are already being raised in Arillas as, should the exchange rate remain poor then will families look else where for their holidays?

A poor exchange not only incurs more expense for holidaymakers but also will affect those buying land or property. For example:-
1. A  last year £35 meal for four could cost, in May, £41.
2. A weeks car hire could slap an extra £22 on the budget.

And, if you were lucky and fortunate enough to find a plot of land for e60000 ?
September 07 would have cost £40,850 - Now would cost you £46,000.

I cannot remember when the euro exchange went as low as the e1.26 currently mentioned and I know all regular forum visitors will continue to give Arillas it's full support and custom, as indeed all regular visitors to any part of their favourite piece of Corfu will.

So lets hope that in the next 4/5 months sees that exchange come back to a very sensible exchange.

Interesting to note that when we come back to England for a week in May, and using the current exchange, we could bring back e1000 with us and exchange for £769 sterling. But we originally only paid £675 for them. ( Including a bank commission)

I have based all the above figures on a bank exchange rate not a tourist and calculated at August last year and exchange, as I know it, today.

Cheers
Negg

[Sandy x]

It's all very worrying Eggy. It's 1.27 today....

[riggers]

Yes as Sandy points out Eggy,  it is very worrying. I normally at this time of year start to stock up my EUROS, but the rate is so poor i have not bothered yet. I have never seen it so low..


Riggers..

[blondegirl]

I have got about 12 euros from last year, but that wont buy me much will it.

[Mango]

Exchange rate is 1.34 on GMTV this morning.

Amanda

[TerryW]

I really think it is going to be a tough year, and we will all have less to spend on holiday, and not just due to the exchange rate.

I will just drink less, because although I like a drink I don't have to have lots. I don't want to cut back on eating out because that is a major part of our holiday. We bought a daily newspaper every day last year, but we can do without that. There are many ways to spend less and still have a good time. I will also make sure that I spend all my money in Arillas (wherever possible) and not eat out in Corfu town or other places.


This chart of Euro values against the Pound shows just how much it has dropped over the last 12 months.

Euro

[ger]

good ideas terry, we should try and support the locals, like you we enjoy the meals in the taverna, we'll just have to make our pint of mythos last a bit longer!
you are so clever, doing the chart, and all the other links, well done keep up the good work!
ger

[Dave n Anne]

Hi Terryw

I think we will all have to tighten our belts this year and there lots of things we can do as you have already said , but even cutting out the daily paper would have an impact on the shop owners of Arillas if everybody gave them up . What I am saying is if the euro stay's as low as it is it will be a tough year for all , retailers and holiday makers alike .

Yammas

Dane n Anne

[Eggy]

e1.34 sound like it may be recovering slightly and well done Terry for the graph.

But a poor exchange from May onwards will hit all local Arillas shops/Tavernas etc.

Instead of:-
4 beers in the Coconut? - Only have 2.
Hire a car for 5 days not 7.
Skip the dessert and starter sometimes.

It could be a belt tighten job for many of us. - Including Negg n Wegg.

Keep me updated folks.
£800 @ 1.32 gives us e1056 - £800 @ e1.34 gives us e1073.
( That e16 can buy just about me 3 bottles of whiskey !-or 14 large pork chops)

Cheers
Negg

[justphil]

Negg, I agree. Belt tightening by both the Arillas businesses and Tourists coming up. We are all ruled by a global economy and are hostage to it. By your own words in your posts might even send you "home" (I mean back - you are at home now.)

What about a "Passport to Pimlico" Arillas. A declaration of independence. We set our own excahnge rate, we have our own government, and our own constitution. We import some, but we live on our local healthy produce. We make our potin (Irish ouzo) and brew our own Mythos and Koum Quat etc etc! Dimitris will be president, but others will challenge him in elections every five years. We can all be equal and we can be ourselves.

And no folks - I'm as sober as a judge after a stomach upset and off the drink for 3 days.

Anyone for Pimms?

not us

phil (but not jen - she disowns me on all this)

[TerryW]

I had to do some work on Exchange rates today so I though I would do a quick check for this years holidays.

It doesn't look as bad as I thought it would, but it does not take into account any price increases in Greece, and also we will all have less disposable income.

It is a worrying trend.

[Mrs Egg]

Terry - this looks pretty well spot on.  We took some money out of the Arillas ATM yesterday and got an exchange rate of 1.28. (This is a Nationwide account so no commission)   All a bit of a nightmare but perhaps we have been spoilt in the last couple of years.

Wendy

[Ang]

Good chart Terry it really does show it in simple terms,it wont be long befor it will be pound for euro the way this country is going, along with the credit crunch and speculation of recession we best all try and cram in as many holidays  whilst we can all just about afford them.
Ang

[Lisa and Steve]

Today the post office was giving a rate of 1.20 which is the lowest I have ever seen.

[blondegirl]

I can see it coming to a £1 = 1 euro by the time we go, as long as it isnt less.