Shame this bloke was not Pm or Chancellor of exchequer in the last ten years

[somebody]

http://business.timesonline.co.uk/tol/business/industry_sectors/banking_and_finance/article5590281.ece


Lucky he never said this in 1992 either

"A weak currency arises from a weak economy and weak Government".

:doh

[KeithD]

£/$ was pretty close to what it is now back in 00/01, around 1.4, drops on average every 10 years, just a normal cycle.

[somebody]

£/$ was pretty close to what it is now back in 00/01, around 1.4, drops on average every 10 years, just a normal cycle.

Wish that was true Mr admin Boss

To many indicators its not just a dip and to many actual events to back the fact this is something far nastier.

[KeithD]

It's been down 1.4-1.2 many times before, the only way is up, never has, and never will flatten out at that level, the world economy wouldn't allow it. After the recession, another crisis will hit somewhere else, and help the £ recover.

[somebody]

It's been down 1.4-1.2 many times before, the only way is up, never has, and never will flatten out at that level, the world economy wouldn't allow it. After the recession, another crisis will hit somewhere else, and help the £ recover.

Today after we had a meeting where our company is investigating giving a discount for payment in Euros rather than sterling:omg:
A few of us were sitting around before the meeting having a brew and a few seem to think the same as you but we are still in the woods from the information we heard about our customers who are like a huge cross the broad slection of the UKs employers .
In this country march april may time is going to be the best indicator, both with companies and employees.

Also due to the way a lot of business is structured companies with contracts ending and overdrafts not there or cheap loans to tide companies over things will look grim for a year possibly two or three years.
Of our customers many well know names are looking very shaky from what I see and hear when visiting.
This was confirmed when one speaker from our finance side warned that several large blue chip companies who are customers of ours we were not to spend money on in any way without approval from the finance director this is unheard of in our market to have to go that high up the chain.
But these companies are in such trouble we want to minimize our exposure to them. One is one of the biggest British companies in the world and is well known also by our phill friends.

I dont think there is much love for the UK in the world markets, the stock market was facing tough competion and now im sure many companies will prefer at least for the short term countries other than the UK. How many true allies do the UK have? I though most of the world hated us?
GB has and will be printing a lot of money, the UK's credit rating is battered we have borrowed huge sums at high intrest rates and there is not much Oill or gas to full back on like in the 70's and 80's.

Although I have heard parity with the dollar:omg: that may not happen but as things calm down it does seem like the lull before the next part of the storm.