France expensive but still Beautiful

[milanbenes]

This is general - comments are free, facts are useless

Hi Sue,

useless or not, a 50% currency devaluation in ten years is not a pretty picture and won't help your high net worth friends unless they are invested on the Euro side

didn't think of that did you luv

Milan.

[northernladyuk]

NorthernLady,

here's the chart of the EUR to the GBP since the beginning of the Euro:

Euro British Pound Exchange Rate (EUR GBP) - Historical Chart | MacroTrends


If you need help interpreting it do let me know.

You can clearly see up until around 2007, the EUR was always around 60p.

The Pound was devalued during the "crisis" to the 80p range to the Euro, and now it
is being devalued again.

You can see in the last ten years the Pound has devalued by 50% compared to the Euro.

Anything not clear

Milan.

This is what is not clear, so here is how you can help.

Tell me what the value 10 years ago was. Calculate what 50% less than that is. Tell me what the current value is.

Thanks is advance for clarification.

[northernladyuk]

Hi Sue,

useless or not, a 50% currency devaluation in ten years is not a pretty picture and won't help your high net worth friends unless they are invested on the Euro side

didn't think of that did you luv

Milan.

Quoting for later usage.

[sasguru]

Quoting for later usage.

Maths is not Milan's strong point. He's a bit thick, like.

[northernladyuk]

Maths is not Milan's strong point. He's a bit thick, like.

Give him a chance. Obviously I've missed the point and Milan is going to clarify for me, justifying how his use of patronising language to SE.

[milanbenes]

This is what is not clear, so here is how you can help.

Tell me what the value 10 years ago was. Calculate what 50% less than that is. Tell me what the current value is.

Thanks is advance for clarification.

ok luv

10 years ago it was 1 EUR = 60p

Today (ten years later) it is 1EUR = 92p

This means, the GBP compared to the EUR has lost 50% of its value, devalued by 50%.

Milan.

[Lance]

ok luv

10 years ago it was 1 EUR = 60p

Today (ten years later) it is 1EUR = 92p

This means, the GBP compared to the EUR has lost 50% of its value, devalued by 50%.

Milan.

oh dear.....
apart from the actual number bit is wrong. So is the method.

you need to invert to get the value of the £
1/.6 = 1.66 (Euros per GBP)
1/.92 = 1.08 (Euros per GBP).


It's lost .58 Euros.
.58 Euros of 1.66 Euros is 35% lost.

Of course if you look at how much higher it was, you get a different number. It was 53% higher. But that is different to it lost 53%.


are you using Brexitonomics

[milanbenes]

oh dear.....
apart from the actual number bit is wrong. So is the method.

you need to invert to get the value of the £
1/.6 = 1.66 (Euros per GBP)
1/.92 = 1.08 (Euros per GBP).


It's lost .58 Euros.
.58 Euros of 1.66 Euros is 35% lost.

Of course if you look at how much higher it was, you get a different number. It was 53% higher. But that is different to it lost 53%.


are you using Brexitonomics

Hello Lance,

I live on the mainland.

This means, 10 years ago and more 1 Euro bought me 60p (check the graphs if you don't accept the numbers)

Today 1 Euro buys me 92p.

This means my Brexit friends, that I now get 50% more pence per Euro than I got 10 years ago.

Good luck with your spin.

Milan.

[northernladyuk]

ok luv

10 years ago it was 1 EUR = 60p

Today (ten years later) it is 1EUR = 92p

This means, the GBP compared to the EUR has lost 50% of its value, devalued by 50%.

Milan.

But does it Milan? Does it really? Let's try this step by step.

10 years ago, GBP £1 = how many Euros?

[sasguru]

Hello Lance,

I live on the mainland.

This means, 10 years ago and more 1 Euro bought me 60p (check the graphs if you don't accept the numbers)

Today 1 Euro buys me 92p.

This means my Brexit friends, that I now get 50% more pence per Euro than I got 10 years ago.

Good luck with your spin.

Milan.