exchange rate

[Eggy]

I don't think yer far wrong on that Geoff!

Numbers can boggle the mind as well. If 2.5% is one seventh of 17.5% and one 7th is 14% of a 100 then taking one 7th off the euro now gives us around e1.06 ?

Getting closer to the pound every day.

Do you think any Governent members know something we don't and sunk their £'s into euros when it was around 1.49 in June 07?
Negg

[Erja]

My heart sank yesterday when I saw the exhange rate My budget for next years holidays looks hardly adequate at the moment

Fingers crossed that it picks up before next summer

[Geoff]

mmmm?? I think you might have a point Negg, but if you ask a Politician you know the answer will be "Well YOU may think that, but I can't possibly comment"
All I know is, I bought my plot of land in Drachmas, and wish I had been able to pay for all my house to be built then. The way things stand now I'll be lucky if I can ever afford to TOTALLY finish it - thank goodness it is at least in a liveable condition so I can retire to it if the current economic climate forces me out of work sooner than I expected.

[Eggy]

I watched BBC news this morning.

"Pound hits all time low against Euro"
" 72p this time last year - now 87p"
" Holidaymakers hit hard"
" Talk of WHEN it becomes pound per euro? "

Now, is the best time ever to show your support for Arillas or indeed any of your favourite destinations. Don't let the poor exchange deter you from your holiday break!

Are we now being dictated to as to where we take our holidyas? Are there cunning plans afoot for the UK to sneak the euro in? Does it bother those MP's, some of whom who find time to doze off in the Commons, and who earn so many extra coffers each year. The exchange doesn't affect them as much - Does it?

I'm sure it will take more than this to keep all "Arillas Addicts" away from yearly dream!
I can forgive the Government for many things but.... take away my Arillas Forum freinds for next year and....,,,,. Guy Fawkes 2 may be on the horizon!

Cheers
Negg

[Sara]

I agree Negg, frightening times indeed. I am one of those people you refer to - in the middle of a build.  When we purchased our plot in May 07 the exchange rate was 1.48. We too thought about putting the build on hold, but we could be waiting months, even years for the euro to recover & at the same time building material costs are rising, so we have decided to ' bite the bullet' & carry on with our dream. Our villa should be ready by next May [ although the dreadful weather at the moment is causing some delay ] So watch this space,  because it will be available to rent.

[Corfusoon]

£1.117 Commercial today.

OW OW OW!!!!!

[Corfusoon]

Sorry Negg I thought it was common knowledge that this Government sold off our Gold reserves years ago to buy Euros.

http://www.timesonline.co.uk/tol/news/politics/article1654931.ece

http://www.telegraph.co.uk/htmlContent.jhtml?html=/archive/1999/05/08/ngol08.html

It was as lacking sense at the time as it is now. Gold is of course always a safe haven in time of crisis.

http://www.gold-prices.biz/gold-2008-here-we-go/

I didnt vote them in!

2.5% off VAT - its like trying to put a sticking plaster on a decapitated soldier!

[Corfusoon]

Brown Sold 415 tonnes around $282.40 per ounce and is today $829. Losing $546.6

So thats $80 Billion dollars of our money. Only saving grace being at the current exchange rate thats only £53457009144.

Thanks Gordon!

[Eggy]

Sara
Not good news but, as you say, bite the bullet and plod on - if finances permit.
And Villa rental still looks the way to go. Especially with Easyjet in the game now.

Frank
Looks like you've made a lot of research on this. - Those figures - Ouch!
Maybe with the strong Euro we'll see Greeks buying land in the UK now?

Cheers
Negg

[Lisa and Steve]

When I checked the euro rate at work the other dat it was 1.08 I couldnt believe it.Was tempted to cash in the euros that I bought for the last holiday and ope it creeps up again.At least I would have some cash for christmas.

[Geoff]

Eggy - "Maybe with the strong Euro we'll see Greeks buying land in the UK now?"
--- I trust this was sarcasm Negg.?? From what I know of the Greeks they are neither stupid or masochistic, only a complete fool with a desire to suffer would trade Corfu for the UK.
As for the Euro - TV new last night showed one Bureau de Change in the UK offering 1.01 - but there were no commission charges!!  - (now that IS sarcasm)

[Eggy]

Geoff
Me? - Sarcastic?
What I meant was that the Greeks could buy land in the UK and build. Then they could rent to those people who, sadly, can't get a mortage!
( OK yer right! )

But... and we struck a little lucky here, when we transferred some cash over in June 07 and got e1.48. I've been trying to work out how much profit we'd make if we took 3000 euros home and then changed into sterling?
I think it's something like £780, after commision? - Is that right?

Negg

[Geoff]

Eggy - I think you are just rubbing our noses in it now. Yes, you lucky old *** you could make a fair bit if you did that. Of course, sell back rates are always worse than buy rates, so you would probably have to part with more that 1.08 Euros for each £sterling. The Post Office is quoting 1.2141 as their buy-back rate on their website today - But its commission FREE !!
But given that 3000 Euro would have cost you about £2027 at 1.48, then even if you sold back at 1.2141 that's £2471 so you would make around £444
Of course, it would be very unfair to mention "Rip-Off Britain", but isn't funny how a commission free product would actually make them £282 (their Sell Rate is 1.0898)
I think you might be best keeping it in Euros mate!

[Corfusoon]

I'd give you 1.10 !

[blondegirl]

We have our own CONSPIRACY THEORY!  I always thought it would come down to almost £1 a euro soon.  Its always been expensive to go on holiday in the UK now (not much value for money) & I am sure it will be the same to go abroad soon.  We will be shipping in the sand and swimming pools in our own back gardens soon (for our usual 2 months of good UK weather if we are lucky!) if we cant afford to go abroad.

The govt. keep trying to put a plaster over an old wound but don't know the cure for all the financial problems... once the initial panic has calmed down a bit I am sure it will all go mad again and the VAT will go back up higher than before, petrol will sky rocket and we will have 50p to the euro.  Aren't I a happy bunny?

The people at the tax office told Mike to cash in his private pension as he has lost so much money on it.... she said it is worse "out there" than people actually know and realise.  Not a happy time for a lot of people at the moment is it?  Quite depressing really.

I know Mike and I would rather be living in Corfu though despite the financial crisis.