Reply to: It's sooooooo GOOD !!!

[Cyberman]

That's some downside!

It is indeed, but its a New Lie instigated downside which anybody with an ounce of commonsense could have avoided by keeping their mouths shut, and that will be rectified in 2010 !!

The strong reasons for remaining out of the Euro and thus keeping control of our own interest rates still persist.

[Cyberman]

.. before some smart alec comes along, yes, I have accidentally typed two 'n's.

[expat]

The point I was making, which is a follow up to what I have stated before, is that the European Central Bank cannot call on us to bail out banks in Spain, France, Germany etc. because we are NOT in the Euro and the ECB does not control us. It does control all of the countries in the Euro.

However, there is a downside in that our BofE and HMG managed to cause a bank run due to their incompetence whereas the ECB has managed to provide liquidity and support without causing a run. Northern Rock would not have been nationalised under the ECB, that's for sure, as liquidity would have been provided quietly and anonnymously.

That's some downside!

[Cyberman]

Not sure what point you're trying to make (as usual)?

Your trolling is on a par with mailman at the mo

2/10 : Could do better.

The point I was making, which is a follow up to what I have stated before, is that the European Central Bank cannot call on us to bail out banks in Spain, France, Germany etc. because we are NOT in the Euro and the ECB does not control us. It does control all of the countries in the Euro.

However, there is a downside in that our BofE and HMG managed to cause a bank run due to their incompetence whereas the ECB has managed to provide liquidity and support without causing a run. Northern Rock would not have been nationalised under the ECB, that's for sure, as liquidity would have been provided quietly and anonnymously.

[NotAllThere]

1 Oct 2009 Pound buys 1.0800 Euro ............ ?

€0.50

[oracleslave]

Of course. Who else is there.

Point taken. I did however go back and re-read the thread in case I'd posted something more daft than usual. Guilty conscience and all that.

[Pondlife]

Who? Cybertory?

Of course. Who else is there.

[KathyWoolfe]

It just goes to show though that when the chips are down we are best going it alone !!

There's no difference......all Euro countries are going it alone on this one!!!!!

[oracleslave]

Not sure what point you're trying to make (as usual)?

Your trolling is on a par with mailman at the mo

2/10 : Could do better.

Who? Cybertory?

[Pondlife]

Not sure what point you're trying to make (as usual)?

Your trolling is on a par with mailman at the mo

2/10 : Could do better.

[ace00]

1 Oct 2007 Pound buys 1.4344 Euro.
1 Oct 2008 Pound buys 1.2684 Euro

I'm happy to work for Euros.

1 Oct 2009 Pound buys 1.0800 Euro ............ ?

[BlasterBates]

The £ has dropped 20% against the EURO err...I'm glad I'm in the Euro zone. Just goes to show that going into the Euro was the right idea.

[ace00]

Should have read this earlier, might have avoided carping out my long Euro/$ position for a big loss.
More advice please Cybertory.

[AlfredJPruffock]

But Chancellor Angela Merkel said Germany "cannot and will not issue a blank cheque for all banks, regardless of whether they behave in a responsible manner or not."

Thats soo pre2008 crash - come on Angela - the State is now the Daddy to clean up the mess when the wee Piggies have desterted the party.

Responsibilty - shucks - come on - the only responsiblity a modern politician has is just how much money he can fill his boots with before he heads for the hills.

Just ask your pal GWB.

Have you seen the little Piggies ?
Crawling in the dirt
And for all the little piggies
Life is getting worse
Always having dirt to play around in.

Have you seen the bigger Piggies?
In their starched white shirts
You will find the bigger piggies
Stirring up the dirt
Always have clean shirts to play around in.

In their styes with all their backing
They don't care what goes on around
In their eyes there's something lacking
What they need's a damn good whacking.

Everywhere there's lots of Piggies
Living piggy lives
You can see them out for dinner
With their piggy wives
Clutching forks and knives to eat their bacon.

[expat]

... not to be in the Euro :


http://uk.news.yahoo.com/rtrs/200810...u-a8bf950.html

1 Oct 2007 Pound buys 1.4344 Euro.
1 Oct 2008 Pound buys 1.2684 Euro

I'm happy to work for Euros.