British Pound verliest snel aan waarde.

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Op zondag 16 november 2008 15:25 schreef SeLang het volgende:
Ik weet niet of de EU ons nog wel wil hebben

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Op zondag 16 november 2008 17:30 schreef SeLang het volgende:
Ze beginnen hier nu behoorlijk in paniek te raken.
Het ziet er echt slecht uit, en ik hou er serieus rekening mee dat ze over een tijdje gedwongen worden om de rente juist fors te verhogen om de £ te redden.

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Op zondag 16 november 2008 17:32 schreef henkway het volgende:

[..]

Dat zou pas helemaal dom zijn

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Op zondag 16 november 2008 17:32 schreef henkway het volgende:

[..]

Dat zou pas helemaal dom zijn

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Op zondag 16 november 2008 17:48 schreef HarryP het volgende:
De reden voor de laatste rente verlaging was toch om samen met de EU goede sier te maken tegenover de pers om te laten zien dat ze samen stappen kunnen ondernemen om de banksector en de economie te ondersteunen.

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En een lagere waarde vvan de Pond is toch goed voor de export....
Mmm inderdaad wel lastig als je handels balance zo zwaar negatief is.

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Op zondag 16 november 2008 17:48 schreef HarryP het volgende:
En een lagere waarde vvan de Pond is toch goed voor de export....
Mmm inderdaad wel lastig als je handels balance zo zwaar negatief is.

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Joining the euro would be the worst possible response to the sterling crisis
The pound's slide has Euro-enthusiasts slavering with anticipation. "Calls for the euro are likely to reach fever pitch if there is a collapse in sterling," writes Roland Rudd, chairman of a pro-euro lobby group, in the London Evening Standard. "Suddenly membership of the euro is beginning to look a very attractive escape route," agrees Will Hutton in The Observer.

Hang on, chaps: weren't you arguing that we should join eighteen months ago, when the pound was more than 30 per cent more valuable than now? What if we had taken your advice then? The financial crisis in Britain could not have been cushioned by the exchange rate; it would instead have been felt in output and jobs. Rather than a 30 per cent reduction in sterling, we'd have suffered a 30 per cent reduction in wages, with a cycle of strikes and sackings as people struggled to adjust to the new reality.

Happily, being outside the euro, we are able to respond to the shock with policies determined by our own needs. We have fiscal and monetary independence, and we are using both. The cheap pound means that Britain can now price itself into the market. It makes possible an export-led recovery.

I know that the decline of sterling is bad news for many of my readers. It's no picnic for me, either: I'm paid in sterling, and I work in Brussels and Strasbourg. But there is a reason why the pound is taking a pounding. Investors can see that Gordon Brown squandered our resources, leaving Britain with the worst deficit of any advanced economy. They know that he has committed more to the bail-out than any other country (hat-tip, Iain Dale). It gives me no pleasure to say this, but the sterling crisis is a market comment on eleven-and-a-half years of Labour profligacy. The Broon, to borrow John Smith's phrase after Black Wednesday, is "the devalued prime minister of a devalued government".

If the ERM taught us anything, it is that there is no such thing as a permanently correct exchange rate. After Black Wednesday (or, rather, White Wednesday), Europhiles toured the studios telling anyone who would listen that "we joined at the wrong rate". But the idea that 3 DM to the pound was too high a rate is hard to reconcile with it having been too low a rate two years before; and, sure enough, we had reached that rate again within five years.

The Hutton/Rudd arguments for joining the euro are terrifyingly similar to the arguments for joining the ERM. Then, as now, Europhiles claimed that membership would boost business. In fact, more than 100,000 firms went bankrupt during our 23 months inside the system. Then, as now, they promised that membership would create jobs. In fact, unemployment doubled to just under three million. Then, as now, they claimed that it would bring lower interest rates. But interest rates were in double figures for most of our time in the ERM - despite inflation at barely three per cent - and 1.75 million homes were overtaken by negative equity. Then, as now, they assured us that participation would bring stability. In the event, our trade-weighted exchange rate was less stable during membership than before or since.

Is there any circumstance in which these zealots would not advocate euro membership? If the pound bounces back in 2010 on the basis of a recovery, will they still be whistling the same old tune? How many times do they need to be proved wrong before we stop listening?

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Senior UK politician warns of run on the pound
LONDON (AP) — Britain's government risks seeing the value of its currency collapse unless public borrowing is kept under control, one of the country's senior opposition politicians said in an interview published Saturday. Conservative lawmaker George Osborne told a British newspaper there could be a run on the pound sterling if the country's debt keeps growing.

"We are in danger, if the government is not careful, of having a proper sterling collapse, a run on the pound," he was quoted as saying in the Times of London newspaper Saturday. "The more you borrow as a government the more you have to sell that debt and the less attractive your currency seems."

British Prime Minister Gordon Brown, in Washington for an economic summit intended to relaunch the crippled global financial system, said he regretted what he called "partisan talk." "I believe that at a time when nations are coming together all over the world to deal with these problems, I think people are looking to politicians to be responsible and to show leadership," Brown said.
He had no apologies for his government's plan to extend borrowing to jump-start Britain's faltering economy, saying the country's central bank backed his move. "The governor of the Bank of England has made it absolutely clear that it is not only right to cut interest rates, but it is perfectly reasonable to have a fiscal stimulus," Brown said.

The pound fell to a six-and-a-half-year low against the dollar and a record low against the euro this week amid mounting fears that Britain could be in for a long and deep recession — and market rumors that the Bank of England could eventually cut interest rates to as low as 1 percent. The government has stated that it will increase government spending in an effort to push back against the looming recession, and suggested it would drop a decade-old fiscal rule that public spending cannot exceed tax revenue over the course of a complete economic cycle.

British treasury chief Alistair Darling has said that strictly following the rules on borrowing would be perverse during a downturn, but Osborne, Darling's opposition counterpart in Parliament, condemned the move. "The public is very concerned about how much money is being racked up on the country's credit card," Osborne was quoted as saying by the Times. "They know you can't just borrow your way out of debt."

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Op maandag 17 november 2008 00:39 schreef HiZ het volgende:
Voor de mensen die lopen te roepen dat het zo goed is voor de Britse export als de pond minder waard wordt; kunnen die ook eventjes vertellen wat de Britten dan moeten gaan exporteren? Werkloze bankiers of zo? De Britse industrie is in de laatste decennia nagenoeg verdwenen en maakt nog maar 17% uit van de volledige economie.

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Op maandag 17 november 2008 07:29 schreef The.Apple het volgende:
Wacht maar tot de euro meegaat......

Stelletje dom volk....
Waar denk je dat al dat geld vandaan komt wat nu "uitgegeven wordt aan het redden van de markt"
Precies dat wordt gewoon geprint, gevolg.... hyper inflatie....

Simpele economie.

Dit zijn de identieke ellende die in 1929 en 1932 zijn gebeurd, waarom ziet niemand in dat dit een cycle is van 80 to 100 jaar,

2008 Wall street en de rest
1929 wall street
1778 Franse revolutie/amerikaanse revolutie (vanwege een kredit crisis in europa met name frankrijk)

waarom zijn mensen zo dom om niets te leren van hun geschiedenis

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Op maandag 17 november 2008 10:46 schreef Emu het volgende:

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Hyperinflatie, laat me niet lachen, iedereen die die woorden in zijn post zet, kan ik met alle moeite van de wereld niet eens serieus nemen.

De economie KRIMPT, de inflatie daalt in een snel tempo, en we hebben zelfs kans op DEFLATIE !

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Op maandag 17 november 2008 07:20 schreef hondjes het volgende:
Spanje is heel erg, wat de huizen betreft.
de rente ging omhoog, salarissen niet., en nu in deze tijd vallen de huizenprijzen om.
flats staan al meer dan twee jaar leeg, en mogen alleen verhuurd worden voor 750 euro, de bank beslist dit.
ben zelf van plan een huis te kopen, en zie aan de kust de huizenprijzen zakken met gemiddeld, 250.000 euro.
mijn dochter, die daar woont, ging al op huizenjacht voor me, de mensen, veel engelsen , zijn wanhopig , willen weg, en zakken en zakken maar met de prijs

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Op maandag 17 november 2008 00:39 schreef HiZ het volgende:
Voor de mensen die lopen te roepen dat het zo goed is voor de Britse export als de pond minder waard wordt; kunnen die ook eventjes vertellen wat de Britten dan moeten gaan exporteren? Werkloze bankiers of zo? De Britse industrie is in de laatste decennia nagenoeg verdwenen en maakt nog maar 17% uit van de volledige economie.