How far has the POUND dropped against the EURO since Labour came into power! Thanks Brown, Hitler has won!?

Question

How far has the POUND dropped against the EURO since Labour came into power! Thanks Brown, Hitler has won!?

Answer 1

Reg is spot on with this one. I really don't care what my currency is called as long as it's worth something. We should have joined the Euro at the beginning. The benefits for the consumer far out weighed any arguements for keeping the Pound

The only concerns I had,and still have, is being tied into a one size fits all Tax system for all the member states.

Once again we've missed the boat.

Answer 2

Kinda comparing Apples with Porkchops- aren't you ??!  :0

Answer 3

That not fair Y'all were having so much fun over the weak dollar I told my friends just wait till this summer they well not think it's so funny Summer is still a few weeks away

Answer 4

Its ludicrous I often visit Spain and its getting more and more expensive over there each time im there, no-where is cheap in the EU now though

Answer 5

It's a bit of a moot question since the Euro didn't exist whe Labour came into power.  However...

On 4 Jan 1999 one ecu (the forerunner of the euro) was worth 71p; it's now (today) worth 79p.  It's lowest point in April/May 2000 was 57p, the highest in April 2008 was just over 80p.

The pound has been quite weak and unstable over the last 30 or so years compared with European currencies; we were kicked out of the ERM because of speculation against the pound in 1992, and it devalued to the point where it almost reached  parity with the US dollar in about 1982 - much lower than it is now, and under a Conservative government.

Answer 6

I don't think Hitler won anything. I think the trouble is, the British developed a habit of falling flat on their faces whenever they hear a shot.

Answer 7

The UK missed the boat on this one! If the UK had joined the € Euro then it is possible the exhance rate would have been set at around £1 = €2. The British people would not tolerate the introduction of the new currency, won't have the queens head on it you know. After the indroduction of the Euro in 1999 it weakend a lot. After the introduction of the Euro money in 2002 it has constantly gained in strength. It has gone from €1 = US$ 0.88 to € 1 = US$ 1.64. It has gained against the pound as well and now trades around £1 = €1.24 so Europe is now much more expensive for Americans and people from the UK. 27% of the worlds cash reserves are now held in Euro's and the Eurozone is now the biggest monetery economy in the world having overtaken the USA.

If the UK was to join in the future then it will never get the rate it could have done at the start. When the EEC started Britain didn't join and when it did it had to abide by the rules established by the original members. We missed the boat with the money as well. When will the UK wake up and realise the empire has gone? I predict that within 10 years the Euro will reach £1 = €1 and then the UK will be the poor man of Europe.

Answer 8

It was inevitable that this was going to happen. Are we so complacent to think that Sterling was going to hold it's own against the rest of the Euro countries. No chance! We have been far too greedy for too long now we are coming down to earth with one almighty bang. And we will be held to Ransom over rising fuel costs. We are already seeing how Russia has the monopoly over fuel supplies.Why do you think most of the euro countries voted for Russia in the European song contest...it is all political with the UK being left out in the cold.

What we urgently need in this country now is good leadership so as to stop us from slipping further into the mire.

Blair sold us down the line big style and ought to hung for being a traitor to his own people and country.

Answer 9

Here is the graph of  ÃƒÂ‚£ vs Euro:

http://www.ecb.eu/stats/exchange/eurofxr...

The reason the Euro has become so strong is mainly because of the weak dollar. Alot of countries are now purchasing basic commodities such as grain, oil, metals

with the Euro instead of the dollar(as per the Bretton-Woods Agreement in 1945). So, the Euro becomes stronger, the dollar and other currecies become weak and volatile.

The dollar's international weakness comes from poor fiscal management by the US Govt. and The Fed. The US has a current National Debt of $9 trillion dollars - increasing by $1.63 million a day. The US govt., The US Treasury, The Fed - nobody, does anything to pay back this National Debt. Instead, the World's Central Banks must hold dollars to trade commodities(as per Bretton-Woods) so all those countries and their currencies take the hit and pay back this debt for the US. Why the Euro has done so well is because this currency has been picked to replace the weak dollar as a more stable trade currency for some commodities by some countries.

This is not the fault of the UK Govt.(..This would have happened regardless of whether Labour or the Cons were in power) and could not, in all honesty be predicted. If you want to blame anyone - blame the American Govt. for being so fiscally incompetent and/or selfish....