Worthless pound

[scooterscot]

As always, I have to be careful what and how I say things.....

In fact, just look for stories in the financial news about 'competitive devaluations' or 'currency wars'.

Such as sminki and sminki

One of the reasons why my euro invoices are making me

How do you start a currency war in the euro zone with many countries?

[HairyArsedBloke]

How do you start a currency war in the euro zone with many countries?

Ah, now you have found the fatal flaw in the euro concept - member states cannot devalue themselves into competitiveness.

[d000hg]

Ok, as the trend continues England will soon be worth nothing...

£1 = $1.59 this is pretty much bang in the middle of what it's been the last year. And against the Euro it's back where it was when things went silly. So basically, we're back where we were a while ago. Oh no.

[AtW]

Ah, now you have found the fatal flaw in the euro concept - member states cannot devalue themselves into competitiveness.

It's not a flaw, it's intended result to make sure member states compete on the basis of what they do well (like exports in Germany) rather than using financial wizardry to get out of hole they dug for themselves.

Additioanlly for weak euro members countries it means that there is no sudden collapse in currency and population does not get ****ed with massively increased import prices, ie inflation - as someone who saw ruble dropped 400% in a space of a few months, that's when people get real proper ******.

[Doggy Styles]

Global currency being the next step (around 8-10 years is my prediction.

It's not a flaw, it's intended result to make sure member states compete on the basis of what they do well (like exports in Germany) rather than using financial wizardry to get out of hole they dug for themselves.

Additioanlly for weak euro members countries it means that there is no sudden collapse in currency and population does not get ****ed with massively increased import prices, ie inflation - as someone who saw ruble dropped 400% in a space of a few months, that's when people get real proper ******.

Dear oh dear. Tell that to the Irish, the Greeks, the Spanish, and the Germans who are subsidising them. The first three wouldn't have half their current problems if they still had their own currencies floating with their respective economies and reining in their excesses.

[Troll]

Dear oh dear. Tell that to the Irish, the Greeks, the Spanish, and the Germans who are subsidising them. The first three wouldn't have half their current problems if they still had their own currencies floating with their respective economies and reining in their excesses.

I thought the latest wheeze being mooted was to have Northern & Southern Euros....should get interesting

[AtW]

The first three wouldn't have half their current problems if they still had their own currencies floating with their respective economies and reining in their excesses.

They'd have lots of problems - certainly default of their debt because they wold not have been able to sell their Govt debt using their local currencies, they'd have to use dollars and their local currency would have collapsed, I've seen that in Russia in 1998 - you don't have any ****** clue what is it to see your local currency go down 400% in a space of a few weeks, Govt bonds in default and all foreign embassies making it much harder to emigrate

[suityou01]

Dear oh dear. Tell that to the Irish, the Greeks, the Spanish, and the Germans who are subsidising them. The first three wouldn't have half their current problems if they still had their own currencies floating with their respective economies and reining in their excesses.

Would you care to voice your opinions on why I got a for my comments on a global currency?
I am bookmarking this post for when it happens so I can GIRUY.

HTH

[scooterscot]

Have a look round everything shall soon be going for a pound.... Going down

[scooterscot]

Dear oh dear. Tell that to the Irish, the Greeks, the Spanish, and the Germans who are subsidising them. The first three wouldn't have half their current problems if they still had their own currencies floating with their respective economies and reining in their excesses.

What has an individual country's economic competence got to do with currency war?