When will Euro hit parity with £

[Cyberman]

...but the UK isn't or.....is it?

It is, but we have the tools to get out of the doodoo quicker, although we left it about a year too late to cut our interest rates.

[AlfredJPruffock]

The pound is now strengthening ... 98p to a Euro about a week ago but now 90p ....... it appears that the consensus is that Europe is in deep doodoo !!!

I hate to say it - but I did tell you this when the CUK Deserters had written off Blighty.

We will prevail.

Who - do you think - you are kidding Mr Atw - if you think Old Blightys done ...

[Francko]

Thats almost 10 per cent down in a week - and theres more to come !!!!

Where are you Blaster and AtW - you boys are taking a hell of a beating !!!



Beware the Curse of Pruffock

You know where is Atw when he takes a beating. Running away like a squirrel...

[AlfredJPruffock]

...but the UK isn't or.....is it?

From the aforementioned article

A couple of points:

1. UK sovereign debt is denominated in UK currency. Since sterling is a fiat currency default is no more than a theoretical risk. The government can always print more money.

2. The banks were recapitalised with the express aim of putting them in a position to withstand a sharp downturn. There is no reason at the moment to believe they underestimated how much cash they will need.

There is trouble ahead but this is scare mongering.

Theres the bottom line - but good try BB - still waiting for Atws insight ....

[Francko]

From the aforementioned article

A couple of points:

1. UK sovereign debt is denominated in UK currency. Since sterling is a fiat currency default is no more than a theoretical risk. The government can always print more money.

2. The banks were recapitalised with the express aim of putting them in a position to withstand a sharp downturn. There is no reason at the moment to believe they underestimated how much cash they will need.

There is trouble ahead but this is scare mongering.

Theres the bottom line - but good try BB - still waiting for Atws insight ....

Does it mean that now the rest of Europe is f__ed and only UK is in a good position? Do we have to return to boozy Blighty? My liver has just started to recover...

[BlasterBates]

Does it mean that now the rest of Europe is f__ed and only UK is in a good position? Do we have to return to boozy Blighty? My liver has just started to recover...

Exactly...Germany and other Eurozone countries are export economies. The UK is a "beer" economy. This means Brits are more optimistic about their prospects.