# Pound slumps, again!



## Joppa

Pound/euro was looking relatively healthy this morning, moving to 1.148 when a couple of good economic data was released - rise in house prices and higher-than-expected inflation. But our friend - BOE governor Mervyn King, again talked down the economy in addressing UK parliament by saying that outlook was gloomy and BOE was again thinking about cutting interest paid to banks to stimulate more lending. This killed off the rally and sterling has now slumped to below 1.13, 1.1282 as I write and still falling, a 4-month low. 
Where will the pound go? I fear stg will now head towards 1.11, the next support level.


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## jojo

Everytime the pound looks as tho it may recover, Merv comes along and p***** on it!!!! EVERYTIME!


Jo xxx


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## Suenneil

jojo said:


> Everytime the pound looks as tho it may recover, Merv comes along and p***** on it!!!! EVERYTIME!
> 
> 
> Jo xxx


I think sitting it out and waiting for it to improve in the short to medium term is a waste of time! Think we have to accept this is what its going to be (plus or minus one or two cents!) for the foreseable future.

Luckily for me it matters not one jot! because I dont use / need sterling for anything at all. But I do understand how tough it is for people who do ... my parents for example who live up near Tarrogona have lost a lot in the exchange of their UK pensions this past year - which in turn makes their cost of living seem hugely expensive now to what it was  Spain is no longer a cheap option for retirement in their case!

Sue :ranger:


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## jojo

Suenneil said:


> I think sitting it out and waiting for it to improve in the short to medium term is a waste of time! Think we have to accept this is what its going to be (plus or minus one or two cents!) for the foreseable future.
> 
> Luckily for me it matters not one jot! because I dont use / need sterling for anything at all. But I do understand how tough it is for people who do ... my parents for example who live up near Tarrogona have lost a lot in the exchange of their UK pensions this past year - which in turn makes their cost of living seem hugely expensive now to what it was  Spain is no longer a cheap option for retirement in their case!
> 
> Sue :ranger:


Interestingly we were saying this earlier. Spain used to be the cheap option, but nowadays its simply another European country, it has all the "mod cons" and facilities of any other European country (mostly), so therefore, why should it be cheaper to live here than anywhere else?

Of course there are regional differences, but that the same anywhere else and of course you tend to find that the cheaper areas of Spain are usually the ones that are a little further away from the "bright lights" and a little more "old fashioned". These attract the expats, which then creates a need for the "mod cons" and then of course the prices rise!!!

Jo xxx


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## Hombre

I know what you mean....but where we live..(northern Catalunya, coastal resort )...prices do seem to be stable, even dropping. Mrs Hombre has been spending the same amount on groceries for 5 years now. I keep telling her to let me know if she needs more, but she insists she is managing OK. Having said that, we do all our own cooking, using fresh local produce, do not eat takeaways or processed foods or ready meals...maybe that is a major contribution. Each to their own.


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## jojo

Hombre said:


> I know what you mean....but where we live..(northern Catalunya, coastal resort )...prices do seem to be stable, even dropping. Mrs Hombre has been spending the same amount on groceries for 5 years now. I keep telling her to let me know if she needs more, but she insists she is managing OK. Having said that, we do all our own cooking, using fresh local produce, do not eat takeaways or processed foods or ready meals...maybe that is a major contribution. Each to their own.


You havent had the mass tourist explosion there tho have you!! I think thats what happened down in the costa del sol a few years ago and what was once a small holiday resort has turned into great big towns and citries with the prices to match! That said, certainly food prices have kind of stablised, they keep trying to put things up and then they put them back down lower than they were before?!? . And they finally seem to be catching on to the BOGOF type offers here now too!!!

As for the pound, well for those of us getting paid in sterling, I guess we just have to call it parity in our heads (until it is!!!!!!) and anything extra is a bonus!?


Jo xx


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## SteveHall

jojo said:


> As for the pound, well for those of us getting paid in sterling, I guess we just have to call it parity in our heads (until it is!!!!!!) and anything extra is a bonus!?
> 
> 
> Jo xx


OMG - yet again we agree! After years of thinking 3 for 2 (3 euros=2 GBP) I'm thinking 1 for 1 now. 

Just quoted on a UK job (to be paid in GBP) and I worked my proposal out on 1 for 1 "...and anything extra is a bonus" 

As I expect them to ***** for a 10% discount for some vacuous reason I guess I will get "parity"

Frightening, frightening, Jojo


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## bakeja

Agree with all of these posts - I think in terms of 1:1 as a rough approximation when I see something quoted in pounds. I also agree with Sue that if you live here and are already "euro denominated" in terms of assets, income and expenditure (and liabilities!) then just relax and don't think about day to day movements. I think both Britain and Spain, having had the most OTT housing booms before the recession, will be well to the back of the queue in terms of seeing much improvement in their general economies.


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## Hombre

jojo said:


> You havent had the mass tourist explosion there tho have you!! I think thats what happened down in the costa del sol a few years ago and what was once a small holiday resort has turned into great big towns and citries with the prices to match! That said, certainly food prices have kind of stablised, they keep trying to put things up and then they put them back down lower than they were before?!? . And they finally seem to be catching on to the BOGOF type offers here now too!!!
> 
> As for the pound, well for those of us getting paid in sterling, I guess we just have to call it parity in our heads (until it is!!!!!!) and anything extra is a bonus!?
> 
> 
> Jo xx


Well Jo....we have a population of 20000 in the winter and 120000 in the summer. maybe not "mass tourism " per se compared to CDS but a big enough swing to affect prices, housing demand etc etc. When we arrived here 7 years ago the population was 12000 so I guess its only a matter of time before we get sucked into the merry go round.


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## Suenneil

Hombre said:


> Well Jo....we have a population of 20000 in the winter and 120000 in the summer. maybe not "mass tourism " per se compared to CDS but a big enough swing to affect prices, housing demand etc etc. When we arrived here 7 years ago the population was 12000 so I guess its only a matter of time before we get sucked into the merry go round.


Im still not sure you will be Hombre. I live in Estepona which does see a significant increase in visitors during the tourist season (both Spanish and non Spanish) ... but I still think its generally cheaper here in Estepona than it is in Marbella, Elviria, San Pedro etc etc. in rents, food, eating out, drinks etc etc.

If we have a coffee somewhere in town for example its usually around 1.10/1.40 - whereas when Im in our Marbella office at lunchtime I pay 1.80/2.40 !!! ... here in Malaga where I work most of the time its the same - more or less on a par with Marbella.

I would imagine the supermarket chains are pretty much of a muchness in terms of price - we use Mercadona for 95% of our shopping and I dont think the prices at Mercadona Estepona are any different to Mercadona in Marbella.

You seem to pay for the "name" rather than the place! lol ... in which case I hope everyone still thinks of Estepona as an out of the way place and too far to come from Marbella for a coffee or a beer! 

Sue


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## SteveHall

Not true re Carrefour - each hypermarket can set their own prices. Elche (99% Spanish) is considerably cheaper than Torrevieja (52% expat) for identical and branded produce. 

(I have a friend whose wife works in the accounts - he was chuckling about dumb foreigners. I reminded him that these dumb guiris keep his wife in the lifestyle she likes to be accustomed to 15- all.)


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## Suenneil

SteveHall said:


> Not true re Carrefour - each hypermarket can set their own prices. Elche (99% Spanish) is considerably cheaper than Torrevieja (52% expat) for identical and branded produce.
> 
> (I have a friend whose wife works in the accounts - he was chuckling about dumb foreigners. I reminded him that these dumb guiris keep his wife in the lifestyle she likes to be accustomed to 15- all.)


Well I dont use Carrefour anyway - because its like the Waitrose of Spanish supermarkets, whereas Mercadona is more on a par with Asda! lol ..... Sue


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## jojo

Suenneil said:


> Well I dont use Carrefour anyway - because its like the Waitrose of Spanish supermarkets, whereas Mercadona is more on a par with Asda! lol ..... Sue



I use Carrefour occasionally and some things are cheaper than Mercadona and other things are dearer "swings and roundabouts" (altho Carrefour have started doing some good deals on things BOGOFs etc) I cant deal with Lidls aldis etc, they're so untidy, dirty and disorganised and never seem to have what I want or seem to be that cheap! I also go to Iceland for LENOR fabric conditioner!

Mercadona is my regular tho, in fact I think I can feel a trip there coming on!!

Jo xxx


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## jojo

SteveHall said:


> OMG - yet again we agree! After years of thinking 3 for 2 (3 euros=2 GBP) I'm thinking 1 for 1 now.
> 
> Just quoted on a UK job (to be paid in GBP) and I worked my proposal out on 1 for 1 "...and anything extra is a bonus"
> 
> As I expect them to ***** for a 10% discount for some vacuous reason I guess I will get "parity"
> 
> Frightening, frightening, Jojo


You just have to forget how it used to be, forget that spain used to be cheap, forget that the UK was once a leading force in world economy and accept that the UK is fast becoming the poor relation of Europe. I guess eventually it will adopt the euro and prices will be the same across europe. The one good thing is that Mervyn will hopefully be forced into an early retirement and will be shown for the incompetant twit that he is!!

Jo xx


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## Joppa

jojo said:


> The one good thing is that Mervyn will hopefully be forced into an early retirement and will be shown for the incompetant twit that he is!!
> Jo xx


Can't see him surviving a likely change of government next year! If you are in government, you want a central banker who talks UP the economy, not flushing the family silver down the pan.


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## SteveHall

Norway's quasi-socialist government were returned last night for another 4 years. So four more years outside the euro for them with low inflation, low unemployment and lots of lovely black gold. 

Sweden go to the polls next year but it looks set for another anti-euro government. 

Denmark?Who knows? They don't! 

The real question is - would the Eurozone let the UK in with the pound struggling as it and at what rate would they be allowed in at? (It's embarassing that this is the same questions being asked about bankrupt Iceland!!)


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## Suenneil

Slightly off topic! well actually very off topic! but I was just looking for camparisons to other EU countries which were related to this thread and came across this on Yahoo News .... maybe Bulgaria has the answer to all lifes ills! just feed everyone for behaving themselves!

We could start getting Tapas for no double parking, churros for genuine use of the car horn, and a small cerveza for turning up at any government building with the correct paperwork!!!! 

Sue lane: :spit:

Courtesy and patience can earn drivers a free lunch on the streets of Bulgaria's capital Sofia in September, as part of a new police road safety drive. 

*Bulgarian police hope their compatriots love of salami can help reduce the number of road accidents.

The Sofia road police and a salami factory announced Tuesday that they will start offering free salami this month to drivers who give right of way to pedestrians at marked street crossings.*

The initiative is part of a series of measures launched on the first day of the new school year Tuesday to prevent accidents with children and boost pedestrians' safety in the capital.

Drivers in the capital rarely give way to pedestrians even at designated crossing points.

Meanwhile, over half of the victims of road accidents in Sofia are pedestrians, many of them school children, police statistics show.


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## SteveHall

Suenneil said:


> We could start getting Tapas for no double parking, churros for genuine use of the car horn, and a small cerveza for turning up at any government building with the correct paperwork!!!!


Will we get double rations if they can actually CONFIRM what paperwork they want? Perhaps if they had to feed us food rather than the usual xxxx some departments would get their acts together. 

I somehow doubt it but dreaming is still free of charge on Tuesdays .... unless they decide to tax it to pay for the mayor's new swimming pool.


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## Joppa

SteveHall said:


> The real question is - would the Eurozone let the UK in with the pound struggling as it and at what rate would they be allowed in at? (It's embarassing that this is the same questions being asked about bankrupt Iceland!!)


No chance for the foreseeable future, as UK won't satisfy Maastricht Treaty's convergence criteria for monetary union because of massive government deficit. Both annual government deficit to GDP (3% vs 5.5%) and gross government debt to GDP (60% vs 100%) are running at nearly double the reference levels set by Maastricht. All three Nordic countries cited lie comfortably below those levels. UK figures lie somewhere between Hungary and Iceland!


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## SteveHall

Interesting "club" - those who want in, don't fulfil the qualifications and those who would be welcomed with open arms don't want in.

(One day DenmarK will decide what it wants!)


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## Suenneil

Joppa said:


> No chance for the foreseeable future, as UK won't satisfy Maastricht Treaty's convergence criteria for monetary union because of massive government deficit. Both annual government deficit to GDP (3% vs 5.5%) and gross government debt to GDP (60% vs 100%) are running at nearly double the reference levels set by Maastricht. All three Nordic countries cited lie comfortably below those levels. UK figures lie somewhere between Hungary and Iceland!


Before I got carried away by the Salami story  I was trying to find an article I read yesterday I think that held Spain up as being a prime example of why NOT to have a single EU currency. 

I believe it suggested that Spain would be in a much better position to recover from the recession if it werent bound by the constraints the euro placed on it, and other EU countries.

Sue


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## Suenneil

*Here it is*

Wall Street Journal yesterday ....

Spain's Struggles Illustrate Pitfalls of Europe's Common Currency - WSJ.com

Sue


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## JBODEN

The salami factory will double its profits and Bulgaria's GNP will double in now time at all


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## JBODEN

Suenneil said:


> Wall Street Journal yesterday ....
> 
> Spain's Struggles Illustrate Pitfalls of Europe's Common Currency - WSJ.com
> 
> Sue


The WSJ linking the Euro to Spains recession is a bit strange. Since the Federal Reserve couldn't get it right in the USA, why do they think that the EU has to. There is of course a Country called UK which isn't in the Euro which has just the same problems as Euro-zone. Anyway, wasn't it the USA that, exactly one year ago, let Lehman Brothers go to the wall and precipitated this deep global recession????


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## jojo

JBODEN said:


> The WSJ linking the Euro to Spains recession is a bit strange. Since the Federal Reserve couldn't get it right in the USA, why do they think that the EU has to. There is of course a Country called UK which isn't in the Euro which has just the same problems as Euro-zone. Anyway, wasn't it the USA that, exactly one year ago, let Lehman Brothers go to the wall and precipitated this deep global recession????


Hhmm, I take it step further back and blame Bill Clinton for precipitating the global recession!!! None of the governments ever think about the consuquences of anything they ever do about anything!!!!!!!


Jo xxxx


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## SteveHall

I blame Thatcher


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## jojo

SteveHall said:


> I blame Thatcher


Oh dear, we shouldnt talk politics!

Jo xxx


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## Joppa

Joppa said:


> Where will the pound go? I fear stg will now head towards 1.11, the next support level.


Oh, dear, my prediction was right.
Euro has hit 90p or 1.11 euro to the pound today. Talk on the market is that pound will test euro parity soon, last visited in January. They are very worried about the huge debt and the state of UK banks, and what Merv and his cronies at BOE will do next.


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## Hombre

Joppa said:


> Oh, dear, my prediction was right.
> Euro has hit 90p or 1.11 euro to the pound today. Talk on the market is that pound will test euro parity soon, last visited in January. They are very worried about the huge debt and the state of UK banks, and what Merv and his cronies at BOE will do next.


It aint looking good guys...we're in freefall at the moment


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## Suenneil

Where´s KeithS .... he works in currency and usually comments on this ... where are you KeithS


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## jojo

Hombre said:


> It aint looking good guys...we're in freefall at the moment



The only accurate prediction is that if the pound rises Merv will come along and stamp on it!!! 

I've yet to hear of anyone, ANYONE AT ALL, either in the business, in the bar or on the forum get any of this right!!!!

Jo xxx


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## JBODEN

jojo said:


> The only accurate prediction is that if the pound rises Merv will come along and stamp on it!!!
> 
> I've yet to hear of anyone, ANYONE AT ALL, either in the business, in the bar or on the forum get any of this right!!!!
> 
> Jo xxx


Well, if it were that easy to predict we wouldn't need forex dealers!


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## jojo

JBODEN said:


> Well, if it were that easy to predict we wouldn't need forex dealers!


Quite and they dont seeem to be any better at predicting than the rest of us!!

Jo xx


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## JBODEN

jojo said:


> Quite and they dont seeem to be any better at predicting than the rest of us!!
> 
> Jo xx


Well I'd have to disagree with you there. Forex traders make sacks-full of money so they are probably getting it right most of the time.


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## Suenneil

JBODEN said:


> Well I'd have to disagree with you there. Forex traders make sacks-full of money so they are probably getting it right most of the time.


I dont think they do ... well not in that way anyway .... they make their money on the sheer volume of currency they trade in as opposed to getting the predictions right ... after all its just guess work most of the time. I know one or two forex traders personally ... and if they knew it for real ... they wouldnt be mixing with me lol .. they would be lounging by the pool or living it up on a yacht somewhere ... and believe me they arent!

Sue lane:


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## jojo

JBODEN said:


> Well I'd have to disagree with you there. Forex traders make sacks-full of money so they are probably getting it right most of the time.


They make it from the comission they charge and the deals they do! I know someone who was advised by forex to change a significant ammount of money from Euros to Sterling a couple of weeks ago cos they said that Sterling was about to "go through the roof"!!!! Now you could say that they were lying to get this guy to do it, in which case they're crooks and thats how they make their money, or you could say that none of these rises and falls can be predicted. As someone who likes to think the best of everyone, I'll go for the latter!!


Jo x


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## jojo

........In fact if you look thru some of "exchange rate" posts here, on other forums and in financial magazines, you'll see that a few months ago they ALL predicted that the pound/euro would rest at between 1.20 and 1.30 for the rest of the year!

With so many permutations and unforeseen problems, you'd be better off backing the geegees!!! Or as I said before, put money on the fact that if the pound does start to recover then Merv will come along and bang it back down again!!!

Jo xx


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## Suenneil

jojo said:


> They make it from the comission they charge and the deals they do! I know someone who was advised by forex to change a significant ammount of money from Euros to Sterling a couple of weeks ago cos they said that Sterling was about to "go through the roof"!!!! Now you could say that they were lying to get this guy to do it, in which case they're crooks and thats how they make their money, or you could say that none of these rises and falls can be predicted. As someone who likes to think the best of everyone, I'll go for the latter!!
> 
> 
> Jo x


A reputable forex company wouldnt tell a client that .... thats considered very bad practice. I have documentation here on my desk that we use for clients that was supplied to us by two big forex companies ... and both are adamant that they cant and wont predict currency rates for clients ....

Sue x


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## jojo

Suenneil said:


> A reputable forex company wouldnt tell a client that .... thats considered very bad practice. I have documentation here on my desk that we use for clients that was supplied to us by two big forex companies ... and both are adamant that they cant and wont predict currency rates for clients ....
> 
> Sue x


It wasnt just Forex Sue and yes it did happen. My friend actually was playing one off against the other to get a good rate and both of these companies were giving my friend the same predictions! I suspect you'd even know one of the companies involved!! Hhhmm

Jo xx


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## Suenneil

jojo said:


> It wasnt just Forex Sue and yes it did happen. My friend actually was playing one off against the other to get a good rate and both of these companies were giving my friend the same predictions! I suspect you'd even know one of the companies involved!! Hhhmm
> 
> Jo xx


mmmmmmmm I probably do know them ... maybe its a sign of the times for them too then ????? everyone grabbing what business they can ... and not as worried as they used to be about the methods used .... oooooooooooo Im so niaive sometimes you know! lol

S xx


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## Joppa

Forex dealers make money in a number of ways: commission on transactions, the spread between buy and sell rate, arbitrage (taking advantage of the differences in rates between various exchanges) and so on. What they are NOT supposed to do is to take up their own position - i.e. gambling their own, or usually their firm's, money by trying to buy low and sell high (i.e. speculating). This is what Nick Leeson did at Barings Bank by predicting movement in Japanese stock exchange, which spectacularly backfired and brought down the bank with it. But good traders have an instinct, a feel, for how the market will move in a given session and will trade cleverly to maximise profit for their employer and their clients. They need good market intelligence to act before the rest of the market does. Big traders are market makers, and adjust their buy-sell spread intelligently to respond to market movements. But I agree that any medium- or long-term prediction, like anything else, is at best a good guess or sometimes just a stab in the dark!


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## Suenneil

*News Article today - parity by Christmas ?*

I know we keep saying this is purely speculative ... as anyone who could actually predict the future rate would be making lots of money.

But for those of you who still need to trade sterling / euros .....

Article printed in UK today 21.09.09
*
Millions of Britons face another hike in the cost of travel today after the pound fell to a five-month low against the euro.

The exchange rate dropped to 1.1016 euros per pound after the Bank of England warned that the UK’s record debt is putting off investors.

It means items purchased in the 22 countries which use the single currency will now cost 6 per cent more than they did last month.

Until last month, sterling’s value had been slowly rising since it sunk to an exchange rate of nearly one to one last December.

In August it was worth 1.17 euros.

But since then the pound has lost value virtually every day – renewing fears it will once again hit parity with the euro by Christmas.

The fall in the value of the pound against the euro has sparked renewed fears the two currencies will hit parity – or becomes less valuable.

‘We were here last October and we headed down to parity against the euro by Christmas. I think we are going the same way again,’ Mark O’Sullivan from Currencies Direct told the BBC
*


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## Hombre

Suenneil said:


> I know we keep saying this is purely speculative ... as anyone who could actually predict the future rate would be making lots of money.
> 
> But for those of you who still need to trade sterling / euros .....
> 
> Article printed in UK today 21.09.09
> *
> Millions of Britons face another hike in the cost of travel today after the pound fell to a five-month low against the euro.
> 
> The exchange rate dropped to 1.1016 euros per pound after the Bank of England warned that the UK’s record debt is putting off investors.
> 
> It means items purchased in the 22 countries which use the single currency will now cost 6 per cent more than they did last month.
> 
> Until last month, sterling’s value had been slowly rising since it sunk to an exchange rate of nearly one to one last December.
> 
> In August it was worth 1.17 euros.
> 
> But since then the pound has lost value virtually every day – renewing fears it will once again hit parity with the euro by Christmas.
> 
> The fall in the value of the pound against the euro has sparked renewed fears the two currencies will hit parity – or becomes less valuable.
> 
> ‘We were here last October and we headed down to parity against the euro by Christmas. I think we are going the same way again,’ Mark O’Sullivan from Currencies Direct told the BBC
> *


That's it !!
Mrs H starts work on that building site tomorrow !


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## Joppa

Hahaha!
While it obviously *looks* more likely for the pound to drop further as it has done so steeply in the last few weeks, the market has a peculiar habit of proving experts wrong. While I don't think we'll see 1.18 for some time, the sell-off has clearly been overdone and I can see it recovering to, say 1.14 or 1.15 (the latter an import resistance level) first.

See who will be proved right!


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## jojo

I predict that I can pick next weeks lottery numbers !!!!

Jo xxx


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## Suenneil

jojo said:


> I predict that I can pick next weeks lottery numbers !!!!
> 
> Jo xxx


Well I"ll go halves with you on the ticket then! lol

sue x


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## Estepona Phil

Quantitative easing and national debt in the UK vs continued recession in Spain and Ireland dragging the EU down... the number of countries in the EU makes the euro less volatile as a currency, but the good news is that the pound being inherently more volatile could bounce back dramatically...

A forex friend of mine reckons that if "Gordon Brown tells the truth it will go to 1.05, but if he convinces everyone that everything's OK we could see 1.40 again"!


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## jojo

Estepona Phil said:


> Quantitative easing and national debt in the UK vs continued recession in Spain and Ireland dragging the EU down... the number of countries in the EU makes the euro less volatile as a currency, but the good news is that the pound being inherently more volatile could bounce back dramatically...
> 
> A forex friend of mine reckons that if "Gordon Brown tells the truth it will go to 1.05, but if he convinces everyone that everything's OK we could see 1.40 again"!



He wont, him and Merv seem to want the pound low!!!!

Jo xxx


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## JBODEN

jojo said:


> He wont, him and Merv seem to want the pound low!!!!
> 
> Jo xxx


Reasonable assumption Jo, since UKLtd is a major exporter of goods & services. On the other hand imports will be more expensive - but they don't care!. All they have to do is vote another pay increase for MP's to compensate for their loss of housing subsidies and to cover any cost of living increases.


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## Tallulah

JBODEN said:


> Reasonable assumption Jo, since UKLtd is a major exporter of goods & services. On the other hand imports will be more expensive - but they don't care!. All they have to do is vote another pay increase for MP's to compensate for their loss of housing subsidies and to cover any cost of living increases.


Forgive me here, JB, but I was always under the impression that as the UK's manufacturing economy was now minimal and we had a massive dependency on exporting financial services, it warms me to read your post that the UK's a major exporter of goods and services. Having said that, I'm still clueless as to what goods and services, other than financial, the UK exports. I do have a genuine concern that the UK will slip (not quite to the dark ages, but you get my meaning) if London stops being the financial centre it was pre-crisis and foreign investment drops significantly. As with Spain's bricks and mortar crutch, what does the UK have to substitute financial services as an economic crutch?

Thanks,

Tallulah.x


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## jojo

JBODEN said:


> Reasonable assumption Jo, since UKLtd is a major exporter of goods & services. On the other hand imports will be more expensive - but they don't care!. All they have to do is vote another pay increase for MP's to compensate for their loss of housing subsidies and to cover any cost of living increases.



I suppose in a way its good for the British economy then, exports should flourish bringing much need employment, Imports will lose their popularity cos of the price... "BUY BRITISH"??? Tourism over there should increase... Hhhhmm, It doesnt feel good tho and it doesnt do Britains stance as one of the worlds greatest economies much good does it, but then I guess as a nation its heading towards bankcruptcy anyway.

I just wish I could take off of the shackles it has on me!

Jo xx


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## Tallulah

I would agree with you 100% Jo - buy British - but there lies the rub...OK, I'm a working person so can't afford hand built luxe car, just want a family saloon. What British car can I buy? Same for my TV and a whole host of Japanese names that have long since graced UK homes - light bulbs that used to be OSRAM are now - God knows, etc., etc. 

That's why I asked JBoden. I genuinely can't think of an Economy impacting market sector where the UK leads. Sure, British Aerospace contracts etc., but Spain has lots of one offs like the major facilities companies currently running BAA, building motorways all over the world and major Banks, but no single market sector to save their ass.

Tally.xx


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## jojo

Tallulah said:


> I would agree with you 100% Jo - buy British - but there lies the rub...OK, I'm a working person so can't afford hand built luxe car, just want a family saloon. What British car can I buy? Same for my TV and a whole host of Japanese names that have long since graced UK homes - light bulbs that used to be OSRAM are now - God knows, etc., etc.
> 
> That's why I asked JBoden. I genuinely can't think of an Economy impacting market sector where the UK leads. Sure, British Aerospace contracts etc., but Spain has lots of one offs like the major facilities companies currently running BAA, building motorways all over the world and major Banks, but no single market sector to save their ass.
> 
> Tally.xx



But maybe all this will encourage foriegn investment????? cos Britains so cheap? Hey, Britains like a thrid world country, we'll be getting foreign aid and parcels from the more fortunate next!

Jo xxx


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## JBODEN

" ...Machinery and transport, manufactured goods and chemicals are Britain's largest export earners. Since the 1970s, oil has contributed significantly to Britain's overseas trade, both in exports and a reduced need to import oil. BP is one of Britain's biggest companies and one of the three largest integrated energy companies in the world. ..."
Oh ... and pork sausages, steak & kidney pies, Yorkshire pudding, ....


----------



## Joppa

Thank YOU Merv - NOT:mad2::mad2::mad2:

Our friend talked down the pound again today - how a weaker currency was good for Britain. The market then seized on it as yet another evidence that the BOE was happy with the current levels, and may even want to see it lower.
So it's down to 91.2p or 1.0965€. Just when the sterling looked a little healthier after the BOE minutes held no surprises.

There is no end to bad news when Merv is in charge


----------



## Hombre

Joppa said:


> Thank YOU Merv - NOT:mad2::mad2::mad2:
> 
> Our friend talked down the pound again today - how a weaker currency was good for Britain. The market then seized on it as yet another evidence that the BOE was happy with the current levels, and may even want to see it lower.
> So it's down to 91.2p or 1.0965€. Just when the sterling looked a little healthier after the BOE minutes held no surprises.
> 
> There is no end to bad news when Merv is in charge


1.09370 as we speak....and falling


----------



## JBODEN

Joppa said:


> Thank YOU Merv - NOT:mad2::mad2::mad2:
> 
> Our friend talked down the pound again today - how a weaker currency was good for Britain. The market then seized on it as yet another evidence that the BOE was happy with the current levels, and may even want to see it lower.
> So it's down to 91.2p or 1.0965€. Just when the sterling looked a little healthier after the BOE minutes held no surprises.
> 
> There is no end to bad news when Merv is in charge


The Welsh had Merv the swerve, we have Merv the perv.


----------



## littleredrooster

Another year falling at this rate and it'll only be good for lighting the fire with.


----------



## jojo

According to a chap on the radio this morning we have an even bigger crisis looming on the horizon, Cocoa crops have failed this year in the Ivory Coast and therefore there is a shortage of cocoa beans which will result in THE PRICE OF CHOCOALTE GOING THRU THE ROOF!!!

Is it worth going on???


Jo xx


----------



## JBODEN

Hombre said:


> 1.09370 as we speak....and falling


1.089. Gravity in the UK has increased to 33ft/sec/sec


----------



## jojo

JBODEN said:


> 1.089. Gravity in the UK has increased to 33ft/sec/sec



I think its pretty obvious its not gonna go up, its being kept deliberately low by Merv according to the news this morning, its good for the British economy. So no point in speculating!


Jo xx


----------



## Joppa

jojo said:


> I think its pretty obvious its not gonna go up, its being kept deliberately low by Merv according to the news this morning, its good for the British economy. So no point in speculating!


Traders are openly saying that the pound will hit parity and then go lower, so soon we'll be paying £1.10 for a euro!


----------



## Hombre

Joppa said:


> Traders are openly saying that the pound will hit parity and then go lower, so soon we'll be paying £1.10 for a euro!


1.0848 as we speak..almost 1% down on the day


----------



## Suenneil

Still at 1.0845 !!!!!!


----------



## jojo

Suenneil said:


> Still at 1.0845 !!!!!!



Thats good news isnt it... It hasnt dropped anymore................... YET!!!!!:confused2:


Jo xxx


----------



## Suenneil

jojo said:


> Thats good news isnt it... It hasnt dropped anymore................... YET!!!!!:confused2:
> 
> 
> Jo xxx


Im not sure if the figures for Monday tend to be a little bit static if there isnt any news or trading through Sunday!  .... maybe tomorrow will see a shift one way or the other.


----------



## Joppa

During Monday, it has dropped as low as 1.0810, but has since 'recovered' to around 1.0860. Still looking vulnerable, but today the attention has shifted to surging yen and recovering dollar. 
Our friend Merv has tried to redeem the situation by claiming he had been misquoted - all he said was that the decline in sterling that *had already happened* has been helpful to British exporters, and in no way was he implying he wanted to see even weaker sterling. There are further UK economic indicators being released this week, which may give a pointer to the direction the pound will be heading in near term. But the market sentiment is still quite bearish, so no immediate recovery in sight. Some traders are forecasting weakness to continue for another month, before recovering to around 1.15 to 1.18 towards the year end.


----------



## jojo

Joppa said:


> During Monday, it has dropped as low as 1.0810, but has since 'recovered' to around 1.0860. Still looking vulnerable, but today the attention has shifted to surging yen and recovering dollar.
> Our friend Merv has tried to redeem the situation by claiming he had been misquoted - all he said was that the decline in sterling that *had already happened* has been helpful to British exporters, and in no way was he implying he wanted to see even weaker sterling. There are further UK economic indicators being released this week, which may give a pointer to the direction the pound will be heading in near term. But the market sentiment is still quite bearish, so no immediate recovery in sight. Some traders are forecasting weakness to continue for another month, before recovering to around 1.15 to 1.18 towards the year end.



Right, a lottery ticket it is then!!!

UJo xxx


----------



## Xose

Joppa said:


> During Monday, it has dropped as low as 1.0810, but has since 'recovered' to around 1.0860. Still looking vulnerable, but today the attention has shifted to surging yen and recovering dollar.
> Our friend Merv has tried to redeem the situation by claiming he had been misquoted - all he said was that the decline in sterling that *had already happened* has been helpful to British exporters, and in no way was he implying he wanted to see even weaker sterling. There are further UK economic indicators being released this week, which may give a pointer to the direction the pound will be heading in near term. But the market sentiment is still quite bearish, so no immediate recovery in sight. Some traders are forecasting weakness to continue for another month, before recovering to around 1.15 to 1.18 towards the year end.


Let's hope the German recovery isn't too quick - prompting the ECB to raise interest rates to hold off German inflation which would be bad news for Sterling and deep, deep, deep caca for Spain!! - the latter however, is inevitable and hence the bad 2010-11-12 forecast, which Zapatero refuses to see as a die hard fan of Supertramp quoting first "Crisis? What crisis? - and more recently, Breakfast in America.


----------



## jojo

Xose said:


> Let's hope the German recovery isn't too quick - prompting the ECB to raise interest rates to hold off German inflation which would be bad news for Sterling and deep, deep, deep caca for Spain!! - the latter however, is inevitable and hence the bad 2010-11-12 forecast, which Zapatero refuses to see as a die hard fan of Supertramp quoting first "Crisis? What crisis? - and more recently, Breakfast in America.


"its raining again" UNITED STATES OF EUROPE??!!!!

Jo xxx


----------



## Hombre

jojo said:


> "its raining again" UNITED STATES OF EUROPE??!!!!
> 
> Jo xxx


Mrs H has finally agreed to take that job on the building site.


----------



## JBODEN

At the quarter end the pound strengthened a little, imo, due to the Central Banks settling their positions (especially the Swiss). It will be interesting to see which way it will go tomorrow. Currently it's 109.3p/eu.


----------



## JBODEN

Hombre said:


> Mrs H has finally agreed to take that job on the building site.


Last week I got a job for my SWMBO to paint white lines on the road.
The first day she came home and said she had painted 6 kilometers. 
The second day she came home and said she had painted 4 kilometers.
The third day she came home and said she had painted 2 kilometers.
I asked why her efficiency dropped off from the 1st to the 3rd day. 
She said that it was due to the longer and longer walks back to the begining of the line to dip her brush into the paint pot! :confused2:


----------



## Suenneil

hee hee hee! Its a good job we dont have the PC Police on this site isnt it! Actually it really is a good job we dont .... otherwise many of the ladies on here, and I include myself in that, would be severely reprimanded for giving you guys a hard time!!!

Just dont make it a habit JB to work in cahoots with Mr H!!! ... he really is a thorn in Mrs H´s side Im sure!

Sue x


----------



## JBODEN

[... giving you guys a hard time!!!]

... and what's new about that ?


----------



## Suenneil

Thats what I mean! We do give you guys a hard time! which is why I DONT WANT the PC POLICE on here! it would spoil many an afternoon!

Sue


----------



## jojo

The pound has reached the lofty heights of.......1.10 against the euro!!!! well, I know its not much, but its going the right way!!!

Jo xxx


----------



## Suenneil

jojo said:


> The pound has reached the lofty heights of.......1.10 against the euro!!!! well, I know its not much, but its going the right way!!!
> 
> Jo xxx


.....every little helps!!! (oops can I be prosecuted for mis use of large company advertising slogans )

Sue xx


----------



## Joppa

jojo said:


> The pound has reached the lofty heights of.......1.10 against the euro!!!! well, I know its not much, but its going the right way!!!
> 
> Jo xxx


Yes, encouraging, though the latest slight rise is due mainly to euro weakness than pound strength. Market is getting jittery over recovery in eurozone because of strong euro. I think there seems to be a floor at the moment of around 1.09 for the pound, after more pound-positive news over the unlikelihood of further QE extension beyond November and BOE backtracking over their supposed weak sterling agenda. For the pound to move beyond the 1.11 resistance level and recover 1.15 to 1.18 trading range, more positive news need to come out of UK, raising the possibility of interest rate rise early next year to counter inflation.


----------



## jojo

Joppa said:


> Yes, encouraging, though the latest slight rise is due mainly to euro weakness than pound strength. Market is getting jittery over recovery in eurozone because of strong euro. I think there seems to be a floor at the moment of around 1.09 for the pound, after more pound-positive news over the unlikelihood of further QE extension beyond November and BOE backtracking over their supposed weak sterling agenda. For the pound to move beyond the 1.11 resistance level and recover 1.15 to 1.18 trading range, more positive news need to come out of UK, raising the possibility of interest rate rise early next year to counter inflation.



......LOL, Apart from that, no one has a clue where its going!!! But its nice to see a little landmark!!!

Jo xx


----------



## jojo

does anyone ever look at these updates on the forum?? Very informative

Expat Currency Exchange Forum - Expat Forum For Expats, For Moving Overseas And For Jobs Abroad


----------



## JBODEN

Look's like the pound is in free-fall mode, again.


----------



## mrypg9

Deliberate Government policy and likely to continue whichever Party is in power. £ down against all currencies.
If you are working and have a large mortgage, you will be benefiting from lower interest rates, cheap car loans, competitive insurance deals, cut-throat retail competition etc etc.
If on the other hand you are living on investment income generated in sterling you will be cursing low interest and exchange rates.. (goes off to look for Book of Curses)


----------



## Joppa

JBODEN said:


> Look's like the pound is in free-fall mode, again.


All the market attention at the moment is on US$, which has weakened against all major currencies, including sterling (back above $1.60). Sterling will continue to struggle in the current climate, with BOE pursuing very loose monetary policy and high government debt. Not many foreign investors are tempted to buy UK assets if they think they'll lose out on currency movement. But as I've said, it's more to do with general dollar weakness than anything specific with the pound, as now.


----------



## jojo

Joppa said:


> All the market attention at the moment is on US$, which has weakened against all major currencies, including sterling (back above $1.60). Sterling will continue to struggle in the current climate, with BOE pursuing very loose monetary policy and high government debt. Not many foreign investors are tempted to buy UK assets if they think they'll lose out on currency movement. But as I've said, it's more to do with general dollar weakness than anything specific with the pound, as now.


And soooooooooo much more! The reasons, permutations, causes etc are totally unpredictable! 

We should stick to predicting next weeks lottery numbers !!!!! LOL


Jo xxx


----------



## bmilner

This post is a little old now but we are still looking at approximate parity. However, in spite of being on the Costa, when I compare the annual costs of our detached house with its own pool here with a semi we have in the Midlands in the UK there is still quite a favourable difference. Up there council tax alone is £1500 per annum. Here IBIU, community, basura and two cars taxes are still less than that. Our bins here are emptied three times a week and we are not fined if there is a 10mil gap between bin and lid in fact there is no lid etc etc. It's altogether a happier place to be.


----------



## Suenneil

bmilner said:


> This post is a little old now but we are still looking at approximate parity. However, in spite of being on the Costa, when I compare the annual costs of our detached house with its own pool here with a semi we have in the Midlands in the UK there is still quite a favourable difference. Up there council tax alone is £1500 per annum. Here IBIU, community, basura and two cars taxes are still less than that. Our bins here are emptied three times a week and we are not fined if there is a 10mil gap between bin and lid in fact there is no lid etc etc. It's altogether a happier place to be.


Hiya ....

I dont think it matters that the post is a little old  its an ongoing issue!!! so I think it will carry on for some time yet ...

I think the biggest issue for a lot of people living here in Spain is if they have to transfer money (pensions etc) from the UK - the exchange rate is making things seem a whole lot more expensive!

I agree that the costs are lower here in terms of council taxes etc ... but the day to day living expenses arent that different any more - so the big loss seen on the exhange rate in the past year is making a massive difference to some people.

Hey Im glad you are avoiding dustbin fines  dont forget though, you can get fined for putting your rubbish out at the wrong time of day here! a point I am always reminding my husband of when he sneaks to the basuras at 7.55 pm!!! when he shuold wait until 8 !!! (The dustbin police in Estepona are hot on that!)

Sue :ranger:


----------



## JBODEN

[The dustbin police in Estepona ...]
Sound like the Commie way of achieving full employment!


----------



## jojo

bmilner said:


> This post is a little old now but we are still looking at approximate parity. However, in spite of being on the Costa, when I compare the annual costs of our detached house with its own pool here with a semi we have in the Midlands in the UK there is still quite a favourable difference. Up there council tax alone is £1500 per annum. Here IBIU, community, basura and two cars taxes are still less than that. Our bins here are emptied three times a week and we are not fined if there is a 10mil gap between bin and lid in fact there is no lid etc etc. It's altogether a happier place to be.


We have been moaning a lot about the cost of living here in Spain recently, so its nice to see a positive post, thank you!! I think a lot of the moaning is down to how it has been historically here. The cost of living used to be much cheaper and the exchange rate used to be very favourable to those with a sterling income. Thats changed and its affected people psychologically. However, you are right, it is still cheaper to live here and no reason to go running back to the doom and gloom of the UK. Petrol is cheaper, ciggies and booze are cheaper, council tax cheaper and food and eating out is still a tad cheaper. 

Take into account the climate, the scenery, the atmoshere and overall, I think spain still wins without a doubt!!

Jo xxx


----------



## Suenneil

JBODEN said:


> [The dustbin police in Estepona ...]
> Sound like the Commie way of achieving full employment!


ha ha ha ha my sense of humour Im afraid  !! I dont think they are dedicated dustbin police!!!!!

But in Estepona who knows! the local town hall "lost" 49.5 million in the recent corruption revelations ..... so maybe a proportion of that wasted on frivolous jobs!!!

Sue x :ranger:


----------



## bmilner

Suenneil said:


> Hiya ....
> 
> I dont think it matters that the post is a little old  its an ongoing issue!!! so I think it will carry on for some time yet ...
> 
> I think the biggest issue for a lot of people living here in Spain is if they have to transfer money (pensions etc) from the UK - the exchange rate is making things seem a whole lot more expensive!
> 
> I agree that the costs are lower here in terms of council taxes etc ... but the day to day living expenses arent that different any more - so the big loss seen on the exhange rate in the past year is making a massive difference to some people.
> 
> Hey Im glad you are avoiding dustbin fines  dont forget though, you can get fined for putting your rubbish out at the wrong time of day here! a point I am always reminding my husband of when he sneaks to the basuras at 7.55 pm!!! when he shuold wait until 8 !!! (The dustbin police in Estepona are hot on that!)
> 
> Sue :ranger:


Hi

Sorry ! The old post was mainly due to my ignorance of the multipage index system.
We have been here for 22 years and are one of those who do depend on a sterling income and so it has made a difference to us. In those 22 years we have seen all this before with the peseta going from 240 to 120 and back. All things are cyclic in my experience and hopefully this will happen with the currencies. Smiles are free and we get more of those down here.
I'm sorry about your bin police but we don't seem to suffer with that sort of thing in Calahonda, YET !!

Brian


----------



## Suenneil

bmilner said:


> Hi
> 
> Sorry ! The old post was mainly due to my ignorance of the multipage index system.
> We have been here for 22 years and are one of those who do depend on a sterling income and so it has made a difference to us. In those 22 years we have seen all this before with the peseta going from 240 to 120 and back. All things are cyclic in my experience and hopefully this will happen with the currencies. Smiles are free and we get more of those down here.
> I'm sorry about your bin police but we don't seem to suffer with that sort of thing in Calahonda, YET !!
> 
> Brian


Lovely to meet you Brian ..... its also good to hear from someone who has probably been through a couple of "cycles" here in Spain and survived! Im staying positive - and happy to keep throwing out the free smiles!

Enjoy the rest of your day
Sue


----------



## bmilner

Hi

I certainly agree with all your sentiments Jo, Thanks for the reassurance.

Brian


----------



## JBODEN

108p = 100 euro cents


----------



## Joppa

JBODEN said:


> 108p = 100 euro cents


Not _*quite*_ that bad yet!
1.08€ = £1 or 92.6p = 1€


----------



## bmilner

JBODEN said:


> 108p = 100 euro cents


Hi

I just looked at the GBP/EUR realtime middle bid price and it is 1.079. I normally buy at about 2-3 pips below that. Someone is seriously ripping you off.

Best Wishes

Brian


----------



## JBODEN

Joppa said:


> Not _*quite*_ that bad yet!
> 1.08€ = £1 or 92.6p = 1€


Just checking to make sure no one is taking a siesta!


----------



## JBODEN

bmilner said:


> Hi
> 
> I just looked at the GBP/EUR realtime middle bid price and it is 1.079. I normally buy at about 2-3 pips below that. Someone is seriously ripping you off.
> 
> Best Wishes
> 
> Brian


I got the currencies back to front. Sorry.


----------



## bmilner

JBODEN said:


> Just checking to make sure no one is taking a siesta!


I was but you soon woke me up !!


----------



## jojo

I'm passed caring about it all for now! I look and then look away (with my lip quivvering lol)! I had to do a small transfer yesterday and got just over 1,07€ st my bank. 

Jo xxx


----------



## MadameEspana

Suenneil said:


> Im still not sure you will be Hombre. I live in Estepona which does see a significant increase in visitors during the tourist season (both Spanish and non Spanish) ... but I still think its generally cheaper here in Estepona than it is in Marbella, Elviria, San Pedro etc etc. in rents, food, eating out, drinks etc etc.
> 
> If we have a coffee somewhere in town for example its usually around 1.10/1.40 - whereas when Im in our Marbella office at lunchtime I pay 1.80/2.40 !!! ... here in Malaga where I work most of the time its the same - more or less on a par with Marbella.
> 
> I would imagine the supermarket chains are pretty much of a muchness in terms of price - we use Mercadona for 95% of our shopping and I dont think the prices at Mercadona Estepona are any different to Mercadona in Marbella.
> 
> You seem to pay for the "name" rather than the place! lol ... in which case I hope everyone still thinks of Estepona as an out of the way place and too far to come from Marbella for a coffee or a beer!
> 
> Sue


Having just taken a visitor to Marbella for the day and onto Puerto Banus I agree that the Marbella prices are well over the top. We bought two medium icecream cones in Banus from Haagen Daas kiosk and were charged a whopping 15 euros. They have to be joking don't they. My friend was very disappointed in the Port, it looked rather shabby, hardly any visitors, shops almost empty except for bored looking staff and restaurants that were fairly full were offering menu del dia. What's with menu del dia these days. It is utter c**p. Most of the meat/fish options are frozen and poor quality served with frozen chips or a bit of tired salad, deserts are often served right out of the plastic containers from their fridges. We have decided to forego these menus and only eat out when we can have a 'proper' freshly cooked meal in a well-established restaurant. Instead of these masses of restaurants giving poor menus why don't they get back to basics and win back our custom. The Med diet is supposed to be one of the finest and healthiest in the world so 'they' say. It should be fresh local produce, simply cooked and reasonably priced instead of the rubbish they are passing on to us. As for the supermarkets at the moment I haven't been able to find a decent potato or decent vegetables for a long time now. They have been squidgy, old produce and the fruit in a lot of cases such as peaches and kiwis have been unripe and sour. this is all on the coast I would add. I know lots of rural dwellers have farmers markets and such. How lucky they are. The produce must be a lot better and fresher than what we are being offered at high prices too I might add. Very dissillusioned at the mo!!


----------



## Suenneil

MadameEspana said:


> Having just taken a visitor to Marbella for the day and onto Puerto Banus I agree that the Marbella prices are well over the top. We bought two medium icecream cones in Banus from Haagen Daas kiosk and were charged a whopping 15 euros. They have to be joking don't they. My friend was very disappointed in the Port, it looked rather shabby, hardly any visitors, shops almost empty except for bored looking staff and restaurants that were fairly full were offering menu del dia. What's with menu del dia these days. It is utter c**p. Most of the meat/fish options are frozen and poor quality served with frozen chips or a bit of tired salad, deserts are often served right out of the plastic containers from their fridges. We have decided to forego these menus and only eat out when we can have a 'proper' freshly cooked meal in a well-established restaurant. Instead of these masses of restaurants giving poor menus why don't they get back to basics and win back our custom. The Med diet is supposed to be one of the finest and healthiest in the world so 'they' say. It should be fresh local produce, simply cooked and reasonably priced instead of the rubbish they are passing on to us. As for the supermarkets at the moment I haven't been able to find a decent potato or decent vegetables for a long time now. They have been squidgy, old produce and the fruit in a lot of cases such as peaches and kiwis have been unripe and sour. this is all on the coast I would add. I know lots of rural dwellers have farmers markets and such. How lucky they are. The produce must be a lot better and fresher than what we are being offered at high prices too I might add. Very dissillusioned at the mo!!


Hi ME

I agree with you on Puerto Banus! Its a horrid over priced place - I wouldnt step foot in the place anymore ..... plus the supermarkets do leave a lot to be desired on the "freshness" front!

BUT - Even though we live on the coast we have access to quite a few local markets that sell fantasic fresh fruit and vegetables! Unofrtunately for me the best one in our area is in Estepona town itself on a Wednesday (and Im at work all week!!).....but La Cala market has really good fresh veggie stalls on a Saturday and I think either Tuesday or Wednesdays ?
Cartama market on a Sunday .... and I know there are many more I just dont have the list with me at the moment ...

Sue xxx lane:


----------



## MadameEspana

Suenneil said:


> Hi ME
> 
> I agree with you on Puerto Banus! Its a horrid over priced place - I wouldnt step foot in the place anymore ..... plus the supermarkets do leave a lot to be desired on the "freshness" front!
> 
> BUT - Even though we live on the coast we have access to quite a few local markets that sell fantasic fresh fruit and vegetables! Unofrtunately for me the best one in our area is in Estepona town itself on a Wednesday (and Im at work all week!!).....but La Cala market has really good fresh veggie stalls on a Saturday and I think either Tuesday or Wednesdays ?
> Cartama market on a Sunday .... and I know there are many more I just dont have the list with me at the moment ...
> 
> Hi again Sue,
> 
> Thanks for your reply. I guess I will have to check out more in my area of Benalmadena Pueblo but nothing springs to mind that I have seen. Maybe the Tuesday market in Fuengirola would be the nearest. I do know they have a fresh produce area so that wouldn't be too far to get better and fresher produce. I am so fed up of paying high prices in supermarkets for shoddy foodstuffs. I can never find a manager when I want to make a complaint about it and no complaints book seems to be 'on show. Cauliflowers and broccolli etc went squidgy after two days in fridge, that can't be right.
> Shall live in hopes hey?


----------



## Suenneil

MadameEspana said:


> Suenneil said:
> 
> 
> 
> Hi ME
> 
> I agree with you on Puerto Banus! Its a horrid over priced place - I wouldnt step foot in the place anymore ..... plus the supermarkets do leave a lot to be desired on the "freshness" front!
> 
> BUT - Even though we live on the coast we have access to quite a few local markets that sell fantasic fresh fruit and vegetables! Unofrtunately for me the best one in our area is in Estepona town itself on a Wednesday (and Im at work all week!!).....but La Cala market has really good fresh veggie stalls on a Saturday and I think either Tuesday or Wednesdays ?
> Cartama market on a Sunday .... and I know there are many more I just dont have the list with me at the moment ...
> 
> Hi again Sue,
> 
> Thanks for your reply. I guess I will have to check out more in my area of Benalmadena Pueblo but nothing springs to mind that I have seen. Maybe the Tuesday market in Fuengirola would be the nearest. I do know they have a fresh produce area so that wouldn't be too far to get better and fresher produce. I am so fed up of paying high prices in supermarkets for shoddy foodstuffs. I can never find a manager when I want to make a complaint about it and no complaints book seems to be 'on show. Cauliflowers and broccolli etc went squidgy after two days in fridge, that can't be right.
> Shall live in hopes hey?
> 
> 
> 
> The thing is my Hubby who tends to do the Mercadona run every week feels pleased with himself when he finds a bag of lettuce or tomatoes that are only 3 days past their printed sell by date  !! so I know exactly how you feel ..... we just have to stick to the Saturday markets because of work times but struggle the rest of the week for fresh stuff!
> 
> Sue x lane:
Click to expand...


----------



## MadameEspana

Suenneil said:


> MadameEspana said:
> 
> 
> 
> The thing is my Hubby who tends to do the Mercadona run every week feels pleased with himself when he finds a bag of lettuce or tomatoes that are only 3 days past their printed sell by date  !! so I know exactly how you feel ..... we just have to stick to the Saturday markets because of work times but struggle the rest of the week for fresh stuff!
> 
> Sue x lane:
> 
> 
> 
> It's refreshing to know I am not alone. Makes you wonder Sue how many others out there just put up with these poor standards. We never hear anyone complain about it do you?. Surely we are not alone on this. We should all picket the supermarkets in question and make a stand against their rubbish goods. Now there's a thought ha!!! We will make Sky news yet!!!! 'Irate housewives picket against less than fresh produce in Spanish supermarkets!!!!" See ya!! x
Click to expand...


----------



## xabiaxica

MadameEspana said:


> Having just taken a visitor to Marbella for the day and onto Puerto Banus I agree that the Marbella prices are well over the top. We bought two medium icecream cones in Banus from Haagen Daas kiosk and were charged a whopping 15 euros. SNIP!


15 euros for 2 ice creams

even Haagen Daas isn't worth that! I would have just walked away & left them with it!


we can still get a medium cone here for about 1.50 - not Haagen Daas - Jijonenca, which I reckon is better anyway


----------



## Pesky Wesky

MadameEspana said:


> Having just taken a visitor to Marbella for the day and onto Puerto Banus I agree that the Marbella prices are well over the top. We bought two medium icecream cones in Banus from Haagen Daas kiosk and were charged a whopping 15 euros. They have to be joking don't they. My friend was very disappointed in the Port, it looked rather shabby, hardly any visitors, shops almost empty except for bored looking staff and restaurants that were fairly full were offering menu del dia. What's with menu del dia these days. It is utter c**p. Most of the meat/fish options are frozen and poor quality served with frozen chips or a bit of tired salad, deserts are often served right out of the plastic containers from their fridges. We have decided to forego these menus and only eat out when we can have a 'proper' freshly cooked meal in a well-established restaurant. Instead of these masses of restaurants giving poor menus why don't they get back to basics and win back our custom. The Med diet is supposed to be one of the finest and healthiest in the world so 'they' say. It should be fresh local produce, simply cooked and reasonably priced instead of the rubbish they are passing on to us. As for the supermarkets at the moment I haven't been able to find a decent potato or decent vegetables for a long time now. They have been squidgy, old produce and the fruit in a lot of cases such as peaches and kiwis have been unripe and sour. this is all on the coast I would add. I know lots of rural dwellers have farmers markets and such. How lucky they are. The produce must be a lot better and fresher than what we are being offered at high prices too I might add. Very dissillusioned at the mo!!


 
I think the problem may be in buying fruit and veg from supermarkets. I never buy from a supermarket if I can help it although there are always the occasional time when you need smth. Am I right in thinking that most people buy fruit and veg from supermarkets in the UK? It doesn't *translate* so well here, the quality, as you know, isn't so good. There should be local markets and if not local fruit and veg shops. I remember in Guardamar del Segura people sold fresh produce from their own plot of land from their garages. It was some of the best stuff I've ever had. Here I buy from a shop and we're lucky in that we get a weekly delivery of organic produce from a farmer in Jarandilla de la Vega.
I would go to smaller places and avoid larger places if possible.
And also avoid Puerto Banus unless you've got a gold medallion, loadsa money and a Loewe handbag

Happy shopping.


----------



## xabiaxica

Pesky Wesky said:


> I think the problem may be in buying fruit and veg from supermarkets. I never buy from a supermarket if I can help it although there are always the occasional time when you need smth. Am I right in thinking that most people buy fruit and veg from supermarkets in the UK? It doesn't *translate* so well here, the quality, as you know, isn't so good. There should be local markets and if not local fruit and veg shops. I remember in Guardamar del Segura people sold fresh produce from their own plot of land from their garages. It was some of the best stuff I've ever had. Here I buy from a shop and we're lucky in that we get a weekly delivery of organic produce from a farmer in Jarandilla de la Vega.
> I would go to smaller places and avoid larger places if possible.
> And also avoid Puerto Banus unless you've got a gold medallion, loadsa money and a Loewe handbag
> 
> Happy shopping.


our market is once a week - I'm working so I miss it 

the pre-packed fruit & veg in Mercadona was usually in such big packs that it did go off before you ate it all - unless you just bought one type of fruit

they have re-introduced loose fruit & veg again - whether in response to the recession I don't know - but now I can buy a variety every couple of days - I am in the habit of shopping for fresh stuff every couple of days anyway

the fruit bowl is still often empty - but because it's all been eaten, rather than thrown out:clap2:


----------



## Pesky Wesky

xabiachica said:


> our market is once a week - I'm working so I miss it


There's no permanent market, you know with fruit and veg, fishmongers, butchers etc??
I must admit a few times when I've been on the south coast we've found it difficult to find a market. Around here most towns ahve their own market (indoor, permanent)


----------



## Suenneil

Pesky Wesky said:


> There's no permanent market, you know with fruit and veg, fishmongers, butchers etc??
> I must admit a few times when I've been on the south coast we've found it difficult to find a market. Around here most towns ahve their own market (indoor, permanent)


There are plenty of markets along the coast here - they are usually on fixed days each week - La Cala has an open market 2 days a week, Estepona its just on Wednesdays ...... I could drive to another market each day if I wanted to (within about 40 minutes) but I also work all week so its impossible ... so I have to rely on the weekend markets which are very good  and obviously more preferable to the supermarkets for fresh produce. :spit:

There are some permanent markets .... Fuengirola has an indoor market which is pretty good .....


----------



## JBODEN

The xrate has dropped to 1.07


----------



## bmilner

Pesky Wesky said:


> There's no permanent market, you know with fruit and veg, fishmongers, butchers etc??
> I must admit a few times when I've been on the south coast we've found it difficult to find a market. Around here most towns ahve their own market (indoor, permanent)


There is quite a large, very comprehensive permanent covered market in Fuengirola. It is right by the dolphin fountain on the road in from Mijas. The foodstuffs are upstairs. Best to go in the mornings.
There used to be one in Los Boliches but I haven't been there since the major redevelopment in that area so don't know if it is still in existence


----------



## jojo

bmilner said:


> There is quite a large, very comprehensive permanent covered market in Fuengirola. It is right by the dolphin fountain on the road in from Mijas. The foodstuffs are upstairs. Best to go in the mornings.
> There used to be one in Los Boliches but I haven't been there since the major redevelopment in that area so don't know if it is still in existence



It was there in July, I went there with a friend who owns a restaurant and gets all his "raw ingredients" from there!

Jo xxx


----------



## SteveHall

Pesky Wesky said:


> There's no permanent market, you know with fruit and veg, fishmongers, butchers etc??
> I must admit a few times when I've been on the south coast we've found it difficult to find a market. Around here most towns ahve their own market (indoor, permanent)


Fuengirola has an excellent permanent market - 6 days 

Málaga has a huge one and many other towns do but many expats don't use them because they have to speak Spanish! They have told me they prefer to go Carrefour etc.... Incidentally Carrefour takings in Torrevieja are 52% non-Spanish.


----------



## Xose

SteveHall said:


> Fuengirola has an excellent permanent market - 6 days
> 
> Málaga has a huge one and many other towns do but many expats don't use them because they have to speak Spanish! They have told me they prefer to go Carrefour etc.... *Incidentally Carrefour takings in Torrevieja are 52% non-Spanish*.


Hi Steve,
Non Spanish what? 

If from non-Spanish clients, how on earth would they know? - an expat with a Spanish 4B card doesn't fill a questionaire when they go through the till.... do they?!

Xose


----------



## SteveHall

Xose said:


> Hi Steve,
> Non Spanish what?
> 
> If from non-Spanish clients, how on earth would they know? - an expat with a Spanish 4B card doesn't fill a questionaire when they go through the till.... do they?!
> 
> Xose


I guess they did some type of surveys. A friend's wife worked in the accounts department and gave me the info over a coffee a while back. 

Torrevieja had the highest non-Spanish spend in the whole of Spain at 42% and visitor numbers at 47% ...which means that on average the non-Spaniard spent more than the Spaniard next to him in the queue. 

The figures for Elche just 35 kms away were very interesting - less than 5% of their takings and visitor numbers were from non-Spaniards.


----------



## chrisnation

*Yer got what yer got.*

The other day I mooched into a Sainsbury in Bristol where they have a travel shop with a 'cambio' spliced into the foyer. Bill Posters had been there earlier because there was a hand-written sign pasted up declaring "Seniors! Special Rates On Wednesdays!"

Whaddya know? It was a Wednesday. But ... what's a "senior"?

So I rock geriatrically up to the counter and ask, "Is it seniors as in bus-pass or seniors as in pension-pittance"? I asked because just this August past [the 20th, since you ask - yes, do make a note], I got my bus-pass. If, like me, you saw Jimi Hendrix at the Albert Hall in '68 and The Who do the whole of "Tommy" live three times in one year, getting to 60 takes some believing - and I still can't.

The woman looked me up and down and said, "Well [_thinks_: in your case] it's sort of flexible." In other words, the decrepit, grizzled raver staring blearily back at her evidently deserved all the help he could get.

"So, what's the regular rate?"

"1.02"

"Wha!?. What's the seniors' rate then?"

"1.03"

So there you have it. Call it even-stevens.

I'm of to the jolly old P.O. in a minute. They give 1.045

If I may inject a slightly more serious note here, the days of moving to Spain because it's cheaper have gone. It may be that for people on a fixed income, the time to move somewhere cheaper or back whence they came, has arrived.

The reason I will move to Valencia if I can sort what needs to be sorted is that "me blood take". The only place in UK where me blood take is London. But UK is 5 countries, not 4. London is the 5th country and IS much more expensive and I cannot afford it. 

So if Spain in general and Valencia in particular is _no more expensive _than UK [exc London] , I don't care what the exchange rate is. If yer blood take and you make a life, that's all that counts. 

That’s my phlatsopy, and I’m sticking to it.


----------



## jojo

chrisnation said:


> The other day I mooched into a Sainsbury in Bristol where they have a travel shop with a 'cambio' spliced into the foyer. Bill Posters had been there earlier because there was a hand-written sign pasted up declaring "Seniors! Special Rates On Wednesdays!"
> 
> Whaddya know? It was a Wednesday. But ... what's a "senior"?
> 
> So I rock geriatrically up to the counter and ask, "Is it seniors as in bus-pass or seniors as in pension-pittance"? I asked because just this August past [the 20th, since you ask - yes, do make a note], I got my bus-pass. If, like me, you saw Jimi Hendrix at the Albert Hall in '68 and The Who do the whole of "Tommy" live three times in one year, getting to 60 takes some believing - and I still can't.
> 
> The woman looked me up and down and said, "Well [_thinks_: in your case] it's sort of flexible." In other words, the decrepit, grizzled raver staring blearily back at her evidently deserved all the help he could get.
> 
> "So, what's the regular rate?"
> 
> "1.02"
> 
> "Wha!?. What's the seniors' rate then?"
> 
> "1.03"
> 
> So there you have it. Call it even-stevens.
> 
> I'm of to the jolly old P.O. in a minute. They give 1.045
> 
> If I may inject a slightly more serious note here, the days of moving to Spain because it's cheaper have gone. It may be that for people on a fixed income, the time to move somewhere cheaper or back whence they came, has arrived.
> 
> The reason I will move to Valencia if I can sort what needs to be sorted is that "me blood take". The only place in UK where me blood take is London. But UK is 5 countries, not 4. London is the 5th country and IS much more expensive and I cannot afford it.
> 
> So if Spain in general and Valencia in particular is _no more expensive _than UK [exc London] , I don't care what the exchange rate is. If yer blood take and you make a life, that's all that counts.
> 
> That’s my phlatsopy, and I’m sticking to it.


 

I agree with you, moving to Spain is not necessarily about moving to somewhere cheaper, its about where you want to be! However, if the pound goes below parity.....

What saddens me about this "slump" is that it makes the UK look to be a failing and almost 3rd world "has been" kinda place - yet another reason why I'm not proud to British

Jo xx


----------



## bakeja

jojo said:


> I agree with you, moving to Spain is not necessarily about moving to somewhere cheaper, its about where you want to be! However, if the pound goes below parity.....
> 
> What saddens me about this "slump" is that it makes the UK look to be a failing and almost 3rd world "has been" kinda place - yet another reason why I'm not proud to British
> 
> Jo xx


Jo - I'm still proud to be British but it's economy has been run by a "3rd world has been kinda guy" for 12 years and is in serious decline. Sad thing is it was looking good when GB got in and set about ruining the public finances, ransacking private pensions, selling our gold and talking about "no more boom and bust" while presiding over the biggest boom/bust cycle ever! Taxes that were the lowest of any big European country are now so high that people are emigrating to France! But I am proud of the history, the traditions and the decent people (i.e. excluding most of the politicians).


----------



## Suenneil

I agree with you on this one .... I wont go back to the UK because of the mess the politicians have created - but Im still proud to be British and of my roots - I think it would be a sad day indeed if everyone still in the UK, and those of us who arent, felt ashamed to be British - the majority of the people are good decent and want to work hard and get on - its not their fault that those in powerful positions have created a Country that no one can particularly shout about at the moment. Im proud to be British but not proud of where Britain has found itself.

Sue xxlane:


----------



## Joppa

I shall be in Spain tomorrow for a week touring Andalucia and will see for myself whether I should still stay in UK or not!


----------



## Suenneil

Joppa said:


> I shall be in Spain tomorrow for a week touring Andalucia and will see for myself whether I should still stay in UK or not!


You will have a fantastic time Im sure Joppa! the weather is gorgeous at the moment and the crowds have all but disappeared ..

Enjoy ! Sue


----------



## Joppa

Thanks, I will!
Just a concern that the euro has just gone through 94p barrier or 1.063 € to £. I've been buying up cash euro over the past 4 months all the way down from 1.18, so I'm largely insured against further falls for this trip at least.


----------



## chrisnation

*Hit me with your FX stick! Hit me! Hit me!*



Joppa said:


> Thanks, I will!
> Just a concern that the euro has just gone through 94p barrier or 1.063 € to £. I've been buying up cash euro over the past 4 months all the way down from 1.18, so I'm largely insured against further falls for this trip at least.


Well, it's Comedy Hour down Kensington High Street this morning. I just sauntered out to get my euros for tomorrow's trip to Valencia. Yesterday's rate at the P.O. was 1.045 but like a sensible fellow I asked before handing over my £££.

1.0007! 

Yep!_Seven ten-thousandths of a cent_ above 1=1! E1.01 at M & S. E1.025 @ RBS for customers by direct credit to a/c. But ... E1.045 from the bloke in the cambio at Gloucester Rd tube stn.

Like Joppa, I'm casing the joint for a week but having already spent a total of 7 weeks there doing same, I've covered many bases. I guess this trip is for an injection of Valenciano good vibes and to meet Mr. Valencia himself, Graham Hunt, frequently of this forum.

By the time I sell my house next spring [yes! stuff the market - I'll do it. Life's too short] maybe the 7-stone weakling that is the GBP will have taken stearoids and turned into something with muscle.


----------



## Suenneil

chrisnation said:


> Well, it's Comedy Hour down Kensington High Street this morning. I just sauntered out to get my euros for tomorrow's trip to Valencia. Yesterday's rate at the P.O. was 1.045 but like a sensible fellow I asked before handing over my £££.
> 
> 1.0007!
> 
> Yep!_Seven ten-thousandths of a cent_ above 1=1! E1.01 at M & S. E1.025 @ RBS for customers by direct credit to a/c. But ... E1.045 from the bloke in the cambio at Gloucester Rd tube stn.
> 
> Like Joppa, I'm casing the joint for a week but having already spent a total of 7 weeks there doing same, I've covered many bases. I guess this trip is for an injection of Valenciano good vibes and to meet Mr. Valencia himself, Graham Hunt, frequently of this forum.
> 
> By the time I sell my house next spring [
> 
> 
> 
> yes! stuff the market - I'll do it. Life's too short
> 
> 
> 
> ] maybe the 7-stone weakling that is the GBP will have taken stearoids and turned into something with muscle.
Click to expand...

Thats the spirit!!!  Enjoy your trip Chris!

Sue lane:


----------



## jojo

ok, ok, I'll tell you what I'll do, I'll go and change my sterling into euros now, that will ensure that the pound will rise significantly once I've done it!

Jo xxx


----------



## chrisnation

Now she tells me...

This reminds me of what an old girlfriend always used to say as we went from A > Z through London. Round about reaching J or K and stuck in a jam she would say "This was a silly way to come."

Now she tells me ...


----------



## jojo

have you noticed the pound is rallying a tad this morning??? why do you think that is??.... yes! I transferred some money yesterday! We'll have record highs by tomorrow - you watch!!!!


Jo xxx


----------



## Joppa

jojo said:


> have you noticed the pound is rallying a tad this morning??? why do you think that is??.... yes! I transferred some money yesterday! We'll have record highs by tomorrow - you watch!!!!


Because BOE boffins have said that quantitative easing (pumping billions into the economy - printing more money!) is working and having a desired effect. Pound has been under the cosh lately because of the market's fear that QE will be expanded and ultra low interest rate (loose money supply) will continue well into 2010 and 2011, making UK an unattractive place for foreign investors. If QE is to end next month, as originally proposed, and money supply is gradually tightened (i.e. raising interest rates), this is good for sterling. While one shouldn't read too much into one bit of good news (and BOE and our friend Merv has a habit of wrong-footing the market!), the dealers are beginning to reassess the pound's near term prospects and it can only be positive. 

BTW, I'm having a fab time in Granada. Any tip for a good tapas bar tonight?


----------



## jojo

Joppa said:


> Because BOE boffins have said that quantitative easing (pumping billions into the economy - printing more money!) is working and having a desired effect. Pound has been under the cosh lately because of the market's fear that QE will be expanded and ultra low interest rate (loose money supply) will continue well into 2010 and 2011, making UK an unattractive place for foreign investors. If QE is to end next month, as originally proposed, and money supply is gradually tightened (i.e. raising interest rates), this is good for sterling. While one shouldn't read too much into one bit of good news (and BOE and our friend Merv has a habit of wrong-footing the market!), the dealers are beginning to reassess the pound's near term prospects and it can only be positive.
> 
> BTW, I'm having a fab time in Granada. Any tip for a good tapas bar tonight?


nononono, none of that Joppa, I've already said, its cos I exchanged some sterling yesterday, I couldnt have picked a worse time LOL!! 

Seriously tho, I think its also cos the USA banking etc is smelling quite sweet this morning !!!!

Jo xxx


----------



## JBODEN

Sterling gained 2% in the morning and then lost 1% in the afternoon.


----------



## Joppa

JBODEN said:


> Sterling gained 2% in the morning and then lost 1% in the afternoon.


And finished 1.5% up :clap2:


----------



## JBODEN

Joppa said:


> And finished 1.5% up :clap2:


+1% today!!!!


----------



## jojo

Do we have any guesses as to where its heading now???? 


Jo xxx


----------



## Suenneil

jojo said:


> Do we have any guesses as to where its heading now????
> 
> 
> Jo xxx


I dont know but it only went up after you transferred some money ... so best keep away Jo ! lol xxx


----------



## Joppa

Well, there are some dark clouds on the horizon, just like the weather here in Andalucia (I'm now in Seville for the w/e). 
MPC minutes, third quarter growth figures and budget deficit next week can weigh on sterling, so it's not out of the woods yet. If I were a betting man, I'd put some money on the pound drifting lower but with a floor of around 1.08 before bouncing back strongly after November MPC meeting deciding not to extend QE, with a rally to 1.15-1.17, with 1.20 by year-end.


----------



## jojo

Joppa said:


> Well, there are some dark clouds on the horizon, just like the weather here in Andalucia (I'm now in Seville for the w/e).
> MPC minutes, third quarter growth figures and budget deficit next week can weigh on sterling, so it's not out of the woods yet. If I were a betting man, I'd put some money on the pound drifting lower but with a floor of around 1.08 before bouncing back strongly after November MPC meeting deciding not to extend QE, with a rally to 1.15-1.17, with 1.20 by year-end.


but theres whats going on in the US, if the euro goes down, which it may do as its artificially high........... thats the trouble there are endless permutations!

Jo xxx


----------



## Tallulah

Joppa said:


> Well, there are some dark clouds on the horizon, just like the weather here in Andalucia (I'm now in Seville for the w/e).
> MPC minutes, third quarter growth figures and budget deficit next week can weigh on sterling, so it's not out of the woods yet. If I were a betting man, I'd put some money on the pound drifting lower but with a floor of around 1.08 before bouncing back strongly after November MPC meeting deciding not to extend QE, with a rally to 1.15-1.17, with 1.20 by year-end.


So it has been said, so it shall be done. I'm going to hold you to this, Joppa!! Just in time for Christmas!!:clap2:

Tallulah.x


----------



## jojo

What I find quite amusing is..... actually not amusing, interesting?? Is going over old predictions and posts (not just this one, but predictions everywhere in general) and looking at all the nonsense that was predicted and how wrong/right, inaccurate everyone was. The things that possibly would/could happen havent and then some unexpected things popped up out of the blue and it all changed !!!!

Jo xxx


----------



## Veronica

jojo said:


> What I find quite amusing is..... actually not amusing, interesting?? Is going over old predictions and posts (not just this one, but predictions everywhere in general) and looking at all the nonsense that was predicted and how wrong/right, inaccurate everyone was. The things that possibly would/could happen havent and then some unexpected things popped up out of the blue and it all changed !!!!
> 
> Jo xxx


One major currency company predicted that sterling would rise to 1.30 by the end of the second quarter of this year. Heaven knows what they based that on but needless to say they were way way off the mark.


----------



## Joppa

Veronica said:


> One major currency company predicted that sterling would rise to 1.30 by the end of the second quarter of this year. Heaven knows what they based that on but needless to say they were way way off the mark.


In fact quite a lot of market experts predicted continuing rise for sterling against the euro, as it did recover from the near parity at start of the year to over 1.18 in early summer. Many based their view on the early end to QE, bad news yet to come out of German and French banking sector (whilst in UK they have all come out already) and the parlous state of Eastern European economy dragging down the euro. What spoofed the market was the bombshell of further £50 billion in QE, early exit of France and Germany out of recession and the perception that BOE was happy to see a weaker pound and was indeed talking the currency down. Latest words coming out of BOE have at last calmed the market about the possible expansion of QE, denial that the bank was short-changing the pound and there is now a chance of an exit strategy, leading to tightening monetary policy and possible rise in interest rates to counter inflation in post-recession UK. The weakness of the US dollar against the euro is based on similar considerations, about ultra-loose money supply for the foreseeable future, and the latest figures coming out of the States haven't convinced the market that the Federal Reserve is in any hurry to change its policy.


----------



## Veronica

Joppa said:


> In fact quite a lot of market experts predicted continuing rise for sterling against the euro, as it did recover from the near parity at start of the year to over 1.18 in early summer. Many based their view on the early end to QE, bad news yet to come out of German and French banking sector (whilst in UK they have all come out already) and the parlous state of Eastern European economy dragging down the euro. What spoofed the market was the bombshell of further £50 billion in QE, early exit of France and Germany out of recession and the perception that BOE was happy to see a weaker pound and was indeed talking the currency down. Latest words coming out of BOE have at last calmed the market about the possible expansion of QE, denial that the bank was short-changing the pound and there is now a chance of an exit strategy, leading to tightening monetary policy and possible rise in interest rates to counter inflation in post-recession UK. The weakness of the US dollar against the euro is based on similar considerations, about ultra-loose money supply for the foreseeable future, and the latest figures coming out of the States haven't convinced the market that the Federal Reserve is in any hurry to change its policy.


Can repeat that lot in words of one syllable so numbskulls like me can understand it please

Besides how can you expect jojo to understand it, she is a blonde you know


----------



## jojo

Veronica said:


> Can repeat that lot in words of one syllable so numbskulls like me can understand it please
> 
> Besides how can you expect jojo to understand it, she is a blonde you know



Dont worry Veronica, I dont need to understand it, cos its such a tiny part of the pound/euro.... and other currencies issues!!! I do play a little in the money market and the futures and being blonde is actually useful cos it means I dont get bogged down with all the permutations, which is a good thing........ or is that why I'm as poor as a church mouse and Joppa is sitting there in a palace, sipping champers LOL

Only teasing Joppa!!! But I do find it very interesting how it all evolves on a ground level

Jo xxx


----------



## JBODEN

Joppa said:


> In fact quite a lot of market experts predicted continuing rise for sterling against the euro, as it did recover from the near parity at start of the year to over 1.18 in early summer. Many based their view on the early end to QE, bad news yet to come out of German and French banking sector (whilst in UK they have all come out already) and the parlous state of Eastern European economy dragging down the euro. What spoofed the market was the bombshell of further £50 billion in QE, early exit of France and Germany out of recession and the perception that BOE was happy to see a weaker pound and was indeed talking the currency down. Latest words coming out of BOE have at last calmed the market about the possible expansion of QE, denial that the bank was short-changing the pound and there is now a chance of an exit strategy, leading to tightening monetary policy and possible rise in interest rates to counter inflation in post-recession UK. The weakness of the US dollar against the euro is based on similar considerations, about ultra-loose money supply for the foreseeable future, and the latest figures coming out of the States haven't convinced the market that the Federal Reserve is in any hurry to change its policy.


I'm confused! Should I convert my PLN into Euro (then wait a bit and convert into sterling) or into Sterling (then wait a bit and convert into Euro...)?
I think I'll buy Microsoft (shares not the Co.)


----------



## jojo

JBODEN said:


> I'm confused! Should I convert my PLN into Euro (then wait a bit and convert into sterling) or into Sterling (then wait a bit and convert into Euro...)?
> I think I'll buy Microsoft (shares not the Co.)


If I were you I'd put your PLN on the gee gees!!!!!! 

Cos with everything pointed out by Joppa, altho I'm not sure it pointed out anything. There's issues with the strength of the Euro, cos exports have been affected by its strength and have been lower than anticipated, this suggests that any recovery may not happen over here for a while?????? so the euro may about to be having a weak period!!??? Which will help exports. Then you have the USA and the pound....... and the yen...... and the 3pm at Kempton!!!!


Jo xxx


----------



## JBODEN

jojo said:


> If I were you I'd put your PLN on the gee gees!!!!!!


The thing is that putting money on the gee gees you can lose it all in one go! What's the fun in that, :confused2: when you can sit back and watch in agony has your money slowly depreciates in front of your eyes.


----------



## jojo

JBODEN said:


> The thing is that putting money on the gee gees you can lose it all in one go! What's the fun in that, :confused2: when you can sit back and watch in agony has your money slowly depreciates in front of your eyes.


:rofl::rofl::rofl: Oh that is so true!!!!!


Jo xxx


----------



## chrisnation

*Funny Hats*



jojo said:


> :rofl::rofl::rofl: Oh that is so true!!!!!
> 
> 
> Jo xxx


The fun in going to the races and punting on the gee-gees is that it gives the ladies the excuse to wear absurd headgear which cost in inverse proportion to the amount of material - the same principle that applies to their beachwear but without the same man-appeal.

And everybody has a few glasses of fizz and the ladies fall off their heels, which have got stuck in the turf. 

Winners and losers are all in hysterics, for much the same reasons - like the rain is showing up the girls whose shape is for real or courtesy of high-powered elastic lingerie

Then all repair to the nearby hotel bars and very soon nobody can remember if they won or lost. 

You call crouching over a screen watching your dosh dribble through the fingers of some spotty yoof on the FX trading floor of some _bourse_ better fun than that? 

Meanwhile, back under the grey blanket of gloom in Earl's Court, memories of Valencian sun linger on. 

Confirmed that the town is still spending insane amounts of money it almost certainly does not have - unless some smart fellow in the finance dept has been punting on the FX and cashing in the profits - and making itself a no-brainer to yrs truly. Excellent meeting with Sr "Valencia" Hunt whose knowledge of the Valencian onions is clearly 2nd to none. 

This exchange rate business makes by head hurt. There are more entertaining ways to do that - see above. 

Enjoy the ride, amigos

Anyone wanna buy a nice roomy terraced house in a dog-eared bit of Bristol?


----------



## jojo

chrisnation said:


> Meanwhile, back under the grey blanket of gloom in Earl's Court, memories of Valencian sun linger on.
> 
> QUOTE]
> 
> I dont think its very sunny in Valencia or anywhere else in Southern Spain now, grey, windy and heavy rain!!!
> 
> Jo xxx


----------



## Seb*

jojo said:


> I dont think its very sunny in Valencia or anywhere else in Southern Spain now, grey, windy and heavy rain!!!
> 
> Jo xxx


Actually we had sun all day and over 20C.


----------



## jojo

Seb* said:


> Actually we had sun all day and over 20C.


Oh, good for you 
Been cloudy and horrible here! gonna brighten up at the weekend apparently, still we need the rain I guess!
Jo xxxx


----------



## chrisnation

Oh, _we_ got some sun. Coupla days all day, including Sat, our day round City of A & S [utterly fab], then down to the beach - lunch in a joint just back of the beach recommended by the driver of the bus. Excellent.

The kinda place where they think "foreign exchange" is what goes on behind _The Colherne Arms_, off Old Brompton Rd, after closing time. They'd be right, too.

I remember, back in Jan 1962 when my school exported itself to Estepona for a term, it rained a bit and the door of the post office swelled up and nobody could get in for three days till it dried out. 

Those were the days. FX? One shilling and sixpence [12.5p]got me and George "Speccy" Ferguson a bottle of Malaga and a mille-feuille. That's one of each - each, every Saturday afternoon after football. Aged 12. Started la vie en rose early, I did.

And Merv or no Merv, I ain't giving it up now.


----------



## Joppa

From being over 1.11 first thing this morning, the pound has now slumped to 1.0954. Latest figures confirm UK still in recession, sixth straight quarterly contraction in GDP by 0.4%, longest on record, while France and Germany have already exited recession. Esp disappointing drop in consumer demand. Market now lending support to the view that BOE will expand QE next month, when a halt was expected. While I still think the pound will be on the uptick in the medium term (early to mid-2010), in the short term it will continue to be under pressure.


----------



## jojo

Joppa said:


> From being over 1.11 first thing this morning, the pound has now slumped to 1.0954. Latest figures confirm UK still in recession, sixth straight quarterly contraction in GDP by 0.4%, longest on record, while France and Germany have already exited recession. Esp disappointing drop in consumer demand. Market now lending support to the view that BOE will expand QE next month, when a halt was expected. While I still think the pound will be on the uptick in the medium term (early to mid-2010), in the short term it will continue to be under pressure.



My prediction a couple of days ago when it started to rise was that they'll have some "bad" news waiting in the wings and bring it out!!! and here it is!!!! Now that was predictable!!!! and thats what is keeping the pound low! Eventho the eurozone has announced that their exports are down lower than predicted because of their overly strong currency! 


jo xxx


----------



## Guest

Shame we didn't join the eurozone at some point when rates were more favourable, although that would have caused some extra economic pressures I know.

Has always surprised and disappointed me, this tabloid-led anti-Europe, and pro-sterling (what's the big deal about the pound anyway) attitude in the UK.


----------



## Expat Steve

Hi Everyone - I'm new to this forum so please be gentle!  It was always a foregone conclusion that the £ would slump or € strengthen to reach parity. But hey, just think of all the other things from which expats benefit. We're based in Mojacar on the east coast, no traffic lights, no CCTV, no high rises, no traffic jams, no road works and 320 days of great weather...ok the £ slump isn't great news but we do have to focus on the positive!


----------



## jojo

Expat Steve said:


> Hi Everyone - I'm new to this forum so please be gentle!  It was always a foregone conclusion that the £ would slump or € strengthen to reach parity. But hey, just think of all the other things from which expats benefit. We're based in Mojacar on the east coast, no traffic lights, no CCTV, no high rises, no traffic jams, no road works and 320 days of great weather...ok the £ slump isn't great news but we do have to focus on the positive!


Hi Steve, welcome to the forum! You're right!! For a long time now, in my head, I always make comparisons as parity. So a 2€ item is a 2 pound item! Anything extra is a bonus. I want to live in Spain for all the reasons you've given and more, not because it is or was a cheap option! But as we're paid in sterling it makes it more noticable when there are sharp drops in sterling!!!

Jo xxx


----------



## Expat Steve

Thanks for the welcome Jo. 

Sure I understand. I was hit quite hard when I returned from working in Dubai in May/June. Rate went from 5 dhms to 6 dhms to the £/€ within a matter of a couple of weeks...


----------



## chrisnation

My sentiments exactly, Steve! 

I've just got back to London after a great week casing Valencia [for the 8th week now, in total] and meeting The Man Who Can down there, Graham Hunt.

Did we hear one nee-nahh-nee-nahh, a single whuup-whupp-whoo-hoo? Nary a'one, though staying right in the centre of town. Back in Earl's Court, the sirens are going off like it's the end of the world - which, for round here, it prob'ly is.

The baseline price of a bottle of wine is now £3.99. For that, expect fence-preserver. For sunshine, expect none and hope for at least _some_.

As for inflation - 2.5% benchmark? The flat I sold in Maida Vale in 1989 for £115,00 has increased in value by £21,250 _p.a. _since then. A modest 2-bedder at the top of a 4-floor Edwardian walk-up, it sold in March last year - not exactly boom-time, remember - for £540,000. Then you've got service charges of min £2k p.a. + annual top-up [one year, 10 flats had a £10k top-up bill for Xmas!] Plus Council Tax of £2000+ p.a. Plus ResPark permit. Plus £250 Congestion Charge Residents' Annual Fee.... Then you have to earn a living on top of that.

To get on the housing ladder in London, you need an income of £93k+ to fund a mortgage [+10% deposit]

A very nice 2 bed flat can be had in Valencia for £150000 ... 

I think the movement of a few cents here and there of the FX rate is ..... neither here nor there.

But maybe it keeps some wild, wild people off the streets!!


----------



## jojo

chrisnation said:


> My sentiments exactly, Steve!
> 
> I've just got back to London after a great week casing Valencia [for the 8th week now, in total] and meeting The Man Who Can down there, Graham Hunt.
> 
> Did we hear one nee-nahh-nee-nahh, a single whuup-whupp-whoo-hoo? Nary a'one, though staying right in the centre of town. Back in Earl's Court, the sirens are going off like it's the end of the world - which, for round here, it prob'ly is.
> 
> The baseline price of a bottle of wine is now £3.99. For that, expect fence-preserver. For sunshine, expect none and hope for at least _some_.
> 
> As for inflation - 2.5% benchmark? The flat I sold in Maida Vale in 1989 for £115,00 has increased in value by £21,250 _p.a. _since then. A modest 2-bedder at the top of a 4-floor Edwardian walk-up, it sold in March last year - not exactly boom-time, remember - for £540,000. Then you've got service charges of min £2k p.a. + annual top-up [one year, 10 flats had a £10k top-up bill for Xmas!] Plus Council Tax of £2000+ p.a. Plus ResPark permit. Plus £250 Congestion Charge Residents' Annual Fee.... Then you have to earn a living on top of that.
> 
> To get on the housing ladder in London, you need an income of £93k+ to fund a mortgage [+10% deposit]
> 
> A very nice 2 bed flat can be had in Valencia for £150000 ...
> 
> I think the movement of a few cents here and there of the FX rate is ..... neither here nor there.
> 
> But maybe it keeps some wild, wild people off the streets!!


Whatever you do tho, dont buy in Spain at the mo, I'm sure Graham would have told you that tho, cos house prices, especially apartments are still in freefall and will be for some time to come due to the million half build and unsold ones!! and the bank repossession properties are going for a song!!

Jo xxx


----------



## Expat Steve

2 bed properties start at €75k here! Where in the UK can you buy at that price?


----------



## jojo

Expat Steve said:


> 2 bed properties start at €75k here! Where in the UK can you buy at that price?



er....... my daughters boyfriend has just bought a really nice 2 bed flat in Worthing west sussex for 72,500 pounds and that wasnt the onyl one he saw in that price range??? The cheapest he saw was 64,000 but it was a mess and the dearest he saw in Horsham was 80,000, but he gotta better deal on the Worthing one (chipped em from 75 apparently??) - they're all that kinda price arent they?????????


Jo xxx


----------



## Expat Steve

jojo said:


> er....... my daughters boyfriend has just bought a really nice 2 bed flat in Worthing west sussex for 72,500 pounds and that wasnt the onyl one he saw in that price range??? The cheapest he saw was 64,000 but it was a mess and the dearest he saw in Horsham was 80,000, but he gotta better deal on the Worthing one (chipped em from 75 apparently??) - they're all that kinda price arent they?????????
> 
> 
> Jo xxx


Well, I think he got a great deal but no I don't think they areall around that level (in Bristol where my youngest lad is they are over £100k)...and besides look at all the other issues they have to contedn with.....council tax, TV licence etc - I'd still sooner be in Spain


----------



## jojo

Expat Steve said:


> Well, I think he got a great deal but no I don't think they areall around that level (in Bristol where my youngest lad is they are over £100k)...and besides look at all the other issues they have to contedn with.....council tax, TV licence etc - I'd still sooner be in Spain



I dont disagree with that!!! Maybe our offspring have different ideals and standards LOL. Property prices are still tumbling in Spain tho, so we're holding out and waiting til we buy. I think they maybe climbing a bit in the UK altho I think thats cos theres a shortage of properties due to nobody wanting to risk moving. I suspect next spring when things pick up in the UK and the interest rates rise, they'll get the "second wave" whereby everyone puts their properties on and flood the market????? 

The property market is another unpredictable mess - well in the short term, long term I suspect its a pretty safe bet - until 2012 !!!!!!!!!!!!!

Jo xxx


Jo xxx


----------



## Expat Steve

All this forum activity; don't you ever work Jo?  hahahaha


----------



## jojo

Expat Steve said:


> All this forum activity; don't you ever work Jo?  hahahaha



NO!! And I wanna job!!! While we've been discussing this, I've taken off all the loose covers on my sofas, washed em, put them out, brought them in and I've just put them back on!!!! I feel like I've done 10 rounds in the boxing ring cos I think they've shrunk!! I'm now about to wash the floor!!!

Jo xxx


----------



## Expat Steve

*Cup of tea due...*



jojo said:


> NO!! And I wanna job!!! While we've been discussing this, I've taken off all the loose covers on my sofas, washed em, put them out, brought them in and I've just put them back on!!!! I feel like I've done 10 rounds in the boxing ring cos I think they've shrunk!! I'm now about to wash the floor!!!
> 
> Jo xxx


Well, when you've washed the floor I think you've earned yourself a nice cup of tea, a sit down and then you can tell me about the sort of work that you are seeking... (You just never know what you may stumble across) 

Are you not part of phase3southampton?


----------



## Xose

I find this topic fascinating. Like someone said on here once, you can buy houses in the north for €30K (or something like that). Yes you can. You can also buy houses for over €5M.

I tend to use a measure if possible. In my case, it’s rightmove. Worthing shows some 24 pages of two bedroom flats, ranging from one at £65K and aother at £70K, both auctions. Then starting from £80K to £380K.
Obviously it’s relevant to what and especially where exactly, but suffice to say that the below £80K were the last 3 on 24 pages. I would say an average for Worthing 2 bed flats lies more around the £150K mark Although like all averages, like salaries in Spain, mean little to nothing.

Xose


----------



## jojo

Xose said:


> I find this topic fascinating. Like someone said on here once, you can buy houses in the north for €30K (or something like that). Yes you can. You can also buy houses for over €5M.
> 
> I tend to use a measure if possible. In my case, it’s rightmove. Worthing shows some 24 pages of two bedroom flats, ranging from one at £65K and aother at £70K, both auctions. Then starting from £80K to £380K.
> Obviously it’s relevant to what and especially where exactly, but suffice to say that the below £80K were the last 3 on 24 pages. I would say an average for Worthing 2 bed flats lies more around the £150K mark Although like all averages, like salaries in Spain, mean little to nothing.
> 
> Xose


It doesnt say much for my daughters boyfriend LOL!!! Bless him, he's not got much money and he's had to beg, steal and borrow the deposit!!

Property is only worth what someone pays for it!!!

Jo xx


----------



## chrisnation

*Yes, but*



jojo said:


> Whatever you do tho, dont buy in Spain at the mo, I'm sure Graham would have told you that tho, cos house prices, especially apartments are still in freefall and will be for some time to come due to the million half build and unsold ones!! and the bank repossession properties are going for a song!!
> 
> Jo xxx


Ah, yes - but - JoJo, I think it may have been that very Graham on these very pages who recently said, very wisely in my opinion, [I paraphrase]:

_"If you buy what you want at a price you can afford to pay and service, and it gets you to be where you want to be and doing what you want to do, just get in there and get it done."_

When I was on Graham's Tour Of The 'Hoods, we visited a couple of friends of his who were doing a total reconstruction, from the shell out, of a house in an interesting part of town, down towards the harbour. This visit was partly to demonstrate what could be done for very reasonable outlay both on property and doings. Having rebuilt the house I now live in, I know a bit about this stuff and how much sheer energy it takes, let alone the cost.

I had to point out to him that when one ticks off the dreaded Bus Pass Birthday on the calendar, time seems to telescope overnight and the result is that one wails, "I coulda done it all, 10 years ago! I don't have the time now to do a refurb and crank up a new business and all the rest."

Take it from me. Once signed up for the Bus Pass Brigade, you gotta motor on.

The great economist John Maynard Keynes quipped to a woman who asked him at a party, "What are the prospects for inflation, in the long run, Mr. Keynes?" "Madam, in the long run, we're all dead."


----------



## jojo

chrisnation said:


> Ah, yes - but - JoJo, I think it may have been that very Graham on these very pages who recently said, very wisely in my opinion, [I paraphrase]:
> 
> _"If you buy what you want at a price you can afford to pay and service, and it gets you to be where you want to be and doing what you want to do, just get in there and get it done."_
> 
> When I was on Graham's Tour Of The 'Hoods, we visited a couple of friends of his who were doing a total reconstruction, from the shell out, of a house in an interesting part of town, down towards the harbour. This visit was partly to demonstrate what could be done for very reasonable outlay both on property and doings.


But graham would say that, he's an estate agent!!! They all say that, cos they're all struggling. Theyre all saying that the property market has bottomed out and that you MUST do it NOW - the truth is that they've been saying that for months and its still in freefall!! Another tip is to shop around, the same property is often on at different prices with different agents. I'm not saying that graham is dearer or cheaper than anyone else, but its worth looking around!


Personally I dont think you should buy until you've rented and lived here for a while. I've been renting here and the first house that we moved into I loved, it was perfect - for the first two weeks, then I realised that the things I thought I wanted I didnt and the things I hated , suddenly I wanted and missed! Now, we were gonna buy when we first arrived here and thankfully we didnt cos we could see that property prices were just starting to fall PHEW for lots of reasons!!!!!!!!!

My point is that if you do as graham is suggesting and after a couple of weeks you dont like it, what then?? not only will you have all the ancillary expenses to pay, but the property price would have fallen - thats if you can find a buyer!!!



Jo xxx


----------



## chrisnation

jojo said:


> But graham would say that, he's an estate agent!!! They all say that, cos they're all struggling. Theyre all saying that the property market has bottomed out and that you MUST do it NOW - the truth is that they've been saying that for months and its still in freefall!! Another tip is to shop around, the same property is often on at different prices with different agents. I'm not saying that graham is dearer or cheaper than anyone else, but its worth looking around!
> 
> 
> Personally I dont think you should buy until you've rented and lived here for a while. I've been renting here and the first house that we moved into I loved, it was perfect - for the first two weeks, then I realised that the things I thought I wanted I didnt and the things I hated , suddenly I wanted and missed! Now, we were gonna buy when we first arrived here and thankfully we didnt cos we could see that property prices were just starting to fall PHEW for lots of reasons!!!!!!!!!
> 
> My point is that if you do as graham is suggesting and after a couple of weeks you dont like it, what then?? not only will you have all the ancillary expenses to pay, but the property price would have fallen - thats if you can find a buyer!!!
> 
> 
> 
> Jo xxx


Errr. Sorry JoJo. I missed out the bit about 

1] Staying in Hostal Rincon for a coupla months first. Actually, it's so cheap, I might just move in - if only Jorge would stop giving out bath mats as subs for towels. I could use my own towels but then they would'nt get laundered. At least the appalingly stinky, yowling tribe of cats has been evicted from the garage under the rooms.

2] Then renting for a bit. 

I did tell Graham all this. He took it like a true hombre.

The other thing is that pressure on existing property in the heart of a city never goes away - or if at all, only briefly. Reason? As Mark Twain said, advising his son to invest in land, "because, my boy, they don't make it anymore like they used to." 

The absurd price increases of my old gaff in W9 proves this. And I just checked another old gaff in SW7 [Harrods 10 mins walk]. I got paid £23k to leave in '92. Now? Yours for £720k. 

Talking of old gaffs, I do know about moving. Just a bit. I've even got a little spreadsheet of location and dates. I'm up to 47 homes at the mo. Being an Army brat in the years when the Army sent families all over the place, a 3 year posting invariably involved 3 moves and I just never got out of the habit - 16 homes in London alone '69 - '92. I've even lived on a ship - twice.

But it's the phlotsopy of the matter: one is a long time in daisy elevation mode ...


----------



## Veronica

chrisnation said:


> Errr. Sorry JoJo. I missed out the bit about
> 
> 1] Staying in Hostal Rincon for a coupla months first. Actually, it's so cheap, I might just move in - if only Jorge would stop giving out bath mats as subs for towels. I could use my own towels but then they would'nt get laundered. At least the appalingly stinky, yowling tribe of cats has been evicted from the garage under the rooms.
> 
> 2] Then renting for a bit.
> 
> I did tell Graham all this. He took it like a true hombre.
> 
> The other thing is that pressure on existing property in the heart of a city never goes away - or if at all, only briefly. Reason? As Mark Twain said, advising his son to invest in land, "because, my boy, they don't make it anymore like they used to."
> 
> The absurd price increases of my old gaff in W9 proves this. And I just checked another old gaff in SW7 [Harrods 10 mins walk]. I got paid £23k to leave in '92. Now? Yours for £720k.
> 
> Talking of old gaffs, I do know about moving. Just a bit. I've even got a little spreadsheet of location and dates. I'm up to 47 homes at the mo. Being an Army brat in the years when the Army sent families all over the place, a 3 year posting invariably involved 3 moves and I just never got out of the habit - 16 homes in London alone '69 - '92. I've even lived on a ship - twice.
> 
> But it's the phlotsopy of the matter: one is a long time in daisy elevation mode ...


I wonder how much Graham pays you to promote his business on this forum


----------



## Suenneil

Like a lot of people on the coast here my OH works in real estate and although the current situation makes it very difficult to a get an actual sale ...... the interest in property at the moment is high ... but he, and I think this is because people are wanting to see everything they can now the prices have dropped .... they still dont buy ... but come back month after month looking at the same stuff to see if its dropped in price again .... and more often than not it has! therefore they dont commit again and wait it out ..... most buyers dont think the prices have bottomed and neither do I ....... obviously there are some areas that hold their prices better than others but they are smaller in number than the rest of the stuff out there.

I also agree re renting first particularly if you are relocating permanently ... if we had bought our first house in Coin, which I fell in love with at the time!! we would be stuck now big time! lol its easy on a sunny day to only see the good bits of a property, and envisage yourself in a sort of romantic vision of Spanish living (we were in a very traditional old town house) .... but once thats wears off you realise its the wrong location, the wrong facilities, and needing loads of work etc etc ..... even before the crisis properties took quite a while to sell here ..... now it can take years .... so making a choice to buy is huge .... renting first lets you get a true feel for a property, an area.... and of course Spain itself!!!! you can get out of rental property pretty quickly and easily ..... its another matter when you are buying.

Sue xx:ranger:


----------



## jojo

Suenneil said:


> I also agree re renting first particularly if you are relocating permanently ... if we had bought our first house in Coin, which I fell in love with at the time!! we would be stuck now big time! lol its easy on a sunny day to only see the good bits of a property, and envisage yourself in a sort of romantic vision of Spanish living (we were in a very traditional old town house) .... but once thats wears off you realise its the wrong location, the wrong facilities, and needing loads of work etc etc ..... even before the crisis properties took quite a while to sell here ..... now it can take years .... so making a choice to buy is huge .... renting first lets you get a true feel for a property, an area.... and of course Spain itself!!!! you can get out of rental property pretty quickly and easily ..... its another matter when you are buying.
> 
> Sue xx:ranger:



Its the silly little things that I found when renting my first house that made me glad we hadnt bought it! When we first saw it I fell in love with it, a beautiful old finca, in lots of land, we moved in, the first week it was perfect in every way - the views, the layout, the size everything! I wanted to buy it and it was an option, but my and over cautious OH said wait!

After a couple of weeks, I found it annoying that it was so far from any shops or civilization (I thought I wanted that, but the novelty wore off), I had to drive everywhere! The lovely white floor tiles were constantly filthy, the neighbour next door had a dog that barked incessantly night and day and was chained next to the boundary fence, the people opposite were always drunk and shouting. Over the hill was an enormous quarry that we hadnt been aware of until the dust and noise started to affect every waking moment - its dusty in Spain at the best of times, but some days you could taste it! The sun terrace was always in the shade, the pool was set into the lawn, which I liked and wanted - but that meant the it was always full of bits of grass and insects (and dust from the quarry), because we were near the top of a hill, the wind was very strong and on more than one occasion, our pool toys and stuff would blow down the street. The ill fitting windows didnt matter I thought cos Spains hot - yeah right!!, the large sitting room that I had to have, was too big to keep warm in the winter, so we lived in the kitchen, which, being north facing was always cold and very drafty.... Oh and the pergula with beautiful vines and flowers growing over it - the home for kamikaze bugs and spiders and mozzies!

The final straw was when the drains blocked (nothing at all wouldnt empty) and the Fontinero/plumber declared that the entire plumbing system needed replacing due to its age and previous bad repairs! As we were only renting we went to our landlady who said it was our repsonsibility to pay for the repairs which were in the 1000s! That coupled with the fact there had been a major leak in the irrigation system, which again was due to its age (we had 1000€ water bill for 3 months!) and our land lady had known about it cos she was struggling to pay a previous water bill! We upped and left - well you cannot live in a house where the sinks, wash basins, toilets dont empty, we had to use plastic bags and buckets for the last few days while we were there (sorry)

I feel better for sharing that!! But my point is, what would we have done if we'd bought it?? I know there are no guarrantees, but the little things were actually the reason I'm glad we didnt buy it. Staying there tho, made me realise what I really wanted - not what my imagined picture of perfection was

Jo xxx


----------



## chrisnation

*A cheap crack*



Veronica said:


> I wonder how much Graham pays you to promote his business on this forum


Veronica

that's a cheap crack at someone you have never met and about someone you may never have met [Graham].

He pays me nothing and I have yet to pay him anything for any services he might offer.

I find him a perfectly straight-up guy offering a good service in a entirely transparent way. And with it, he strikes me - having corresponded with him and met him - as someone with whom it is a pleasure to be acquainted.

If you can recommend someone else who is thoroughly clued up about Valencia city, I will be glad to hear of them and it might turn out I would be as enthusiastic about them, too.


----------



## jojo

chrisnation said:


> Veronica
> 
> that's a cheap crack at someone you have never met and about someone you may never have met [Graham].
> 
> He pays me nothing and I have yet to pay him anything for any services he might offer.
> 
> I find him a perfectly straight-up guy offering a good service in a entirely transparent way. And with it, he strikes me - having corresponded with him and met him - as someone with whom it is a pleasure to be acquainted.
> 
> If you can recommend someone else who is thoroughly clued up about Valencia city, I will be glad to hear of them and it might turn out I would be as enthusiastic about them, too.



I think Veronica is simply pointing out that we dont allow advertising on the forum and you've possibly mentioned his name rather alot. As it happens I know personally an excellent agent in Javea who covers valencia and is equally as good, honest and straight-up! Graham isnt the only one! 

I assume you have shopped around in the area to be able to qualify your comments!

Jo xxx


----------



## chrisnation

*Digly Dell*



jojo said:


> Its the silly little things that I found when renting my first house that made me glad we hadnt bought it! When we first saw it I fell in love with it, a beautiful old finca, in lots of land, we moved in, the first week it was perfect in every way - the views, the layout, the size everything! I wanted to buy it and it was an option, but my and over cautious OH said wait!
> 
> After a couple of weeks, I found it annoying that it was so far from any shops or civilization (I thought I wanted that, but the novelty wore off), I had to drive everywhere! The lovely white floor tiles were constantly filthy, the neighbour next door had a dog that barked incessantly night and day and was chained next to the boundary fence, the people opposite were always drunk and shouting. Over the hill was an enormous quarry that we hadnt been aware of until the dust and noise started to affect every waking moment - its dusty in Spain at the best of times, but some days you could taste it! The sun terrace was always in the shade, the pool was set into the lawn, which I liked and wanted - but that meant the it was always full of bits of grass and insects (and dust from the quarry), because we were near the top of a hill, the wind was very strong and on more than one occasion, our pool toys and stuff would blow down the street. The ill fitting windows didnt matter I thought cos Spains hot - yeah right!!, the large sitting room that I had to have, was too big to keep warm in the winter, so we lived in the kitchen, which, being north facing was always cold and very drafty.... Oh and the pergula with beautiful vines and flowers growing over it - the home for kamikaze bugs and spiders and mozzies!
> 
> The final straw was when the drains blocked (nothing at all wouldnt empty) and the Fontinero/plumber declared that the entire plumbing system needed replacing due to its age and previous bad repairs! As we were only renting we went to our landlady who said it was our repsonsibility to pay for the repairs which were in the 1000s! That coupled with the fact there had been a major leak in the irrigation system, which again was due to its age (we had 1000€ water bill for 3 months!) and our land lady had known about it cos she was struggling to pay a previous water bill! We upped and left - well you cannot live in a house where the sinks, wash basins, toilets dont empty, we had to use plastic bags and buckets for the last few days while we were there (sorry)
> 
> I feel better for sharing that!! But my point is, what would we have done if we'd bought it?? I know there are no guarrantees, but the little things were actually the reason I'm glad we didnt buy it. Staying there tho, made me realise what I really wanted - not what my imagined picture of perfection was
> 
> Jo xxx


JoJo

my sympathies.

I got the Dingly Dell "country idyll" out of my system by owning a boatyard in Devon on the Tamar 8 miles upstream of Devenport, for 7 years. The life of Mole and Ratty, messing about in boats in picture-postcard country.

But 2 miles to the nearest village. First time [Sept '92] I went in to the tiny Co-op for olive oil, they directed me across the road to the chemist who proferred a 50ml dropper-bottle for £3. And I had a bout of the Cess-Pit Blues, too, once.

Now I know. Cured me for ever. No way do I want anything to do with any place that is not a short stroll to numerous bars, cafes, book shops, offices, banks, big buildings - lots of them - streets, squares: in short, city life. 

So fincas, golf-course developments, urbanizationes and all the stuff you see in the ads in the UK magazines is not my schtick. They may be cheap as chips and still falling but for me, smack-dab in the middle of a big city, please.

That's why the property I'm dealing with is a bit different and likely to trend in a different way to what I percieve as the places that attracts the majority of northern european buyers.

Each to his own


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## chrisnation

JoJo, as I said, all contributions gratefully received. Must be mustard on Valencia city, not the provincial outposts. See my sad lament re Dingly Dell ...


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## jojo

chrisnation said:


> JoJo, as I said, all contributions gratefully received. Must be mustard on Valencia city, not the provincial outposts. See my sad lament re Dingly Dell ...


We all learn our lessons in life, its always better to learn them the easy way tho LOL

My friends have been selling and renting property in that area for over 23 years, her brother is my husbands best friend, she's honest and all the things that your man is!!! In fact she nearly convinced me to move there, but I didnt like it, it reminded me of Brighton in the sun - thats not a dig at you or Valencia - hey, we're all different! So, there isnt just one good estate agent in Valencia, altho, as a breed they're dying out at the mo with the property slump over here!!

Jo xxx


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## chrisnation

jojo said:


> We all learn our lessons in life, its always better to learn them the easy way tho LOL
> 
> My friends have been selling and renting property in that area for over 23 years, her brother is my husbands best friend, she's honest and all the things that your man is!!! In fact she nearly convinced me to move there, but I didnt like it, it reminded me of Brighton in the sun - thats not a dig at you or Valencia - hey, we're all different! So, there isnt just one good estate agent in Valencia, altho, as a breed they're dying out at the mo with the property slump over here!!
> 
> Jo xxx


Brighton?! Now that one I would never have got. Having pondered, the nearest I can get in UK is Glasgow-sur-Mer but with nary the slightest chance of a Glasgow Kiss on a Friday night. 

One of the best aspects of Vlc that my travelling companion noted was the complete absence of menace on the streets. As she was born and brought up in Manhatten and has lived in central London the past 30 years, as a single woman she knows the smell of menace when it's about. It's a nice thing to be able to say about a place these days. Regrettably, lots of urban UK don't qualify.

These other paragons of the estate agents' trade: I could do with a name and contact details, if you would be so kind. I'm no more up for all eggs being in one basket than the next man, so I'd be grateful if you could let me know.


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## jojo

chrisnation said:


> Brighton?! Now that one I would never have got. Having pondered, the nearest I can get in UK is Glasgow-sur-Mer but with nary the slightest chance of a Glasgow Kiss on a Friday night.
> 
> One of the best aspects of Vlc that my travelling companion noted was the complete absence of menace on the streets. As she was born and brought up in Manhatten and has lived in central London the past 30 years, as a single woman she knows the smell of menace when it's about. It's a nice thing to be able to say about a place these days. Regrettably, lots of urban UK don't qualify.
> 
> These other paragons of the estate agents' trade: I could do with a name and contact details, if you would be so kind. I'm no more up for all eggs being in one basket than the next man, so I'd be grateful if you could let me know.


I cant find her website,cos I dont know what her company is called. But her name is Christina (its bad isnt it, I dont know her married name or anything!). I'll ask her brother and get a website or number for you


Jo xxx


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## chrisnation

*It's a start*



jojo said:


> I cant find her website,cos I dont know what her company is called. But her name is Christina (its bad isnt it, I dont know her married name or anything!). I'll ask her brother and get a website or number for you
> 
> 
> Jo xxx


Christina, is it? I know a Christina but she's on Mallorca and is about 3 by now, so it can't be her. One down and several hundred-thousand Christinas to go.

I'm in no big rush, JoJo. Round about March would be about the latest, if you can get into Sherlock-mode and dig up which Christina this is and all the other stuff by then.

But if you guys _promise_ on yr bendeds that prices will continue to plummet, I could give you till about September because I have a wedding to go to on an atoll off Aitutaki in early August. 

That's a wedding on a sand-bar, a boat trip off a fly-speck about the size of Hyde Park, 40 mins by mini-plane north of Raratonga, which is a tiny blob in the middle of the Pacific Ocean 4 hrs by proper plane from Auckland, which is 9hrs by jumbo from Singapore, which is 13 hrs ditto from London - i.e. a flippin' long way. lane:

And en route I'm up for house sitting a 100 y.o. whaling ship in a Malaysian creek round the corner from Singapore. 

So, once I sell my house in Spring, like Capt Oates, I may be gone for some time.


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## Joppa

Strange, isn't it?
The pound is now above 1.1050, just about the level it was before last Friday's bombshell about continuing recession. No real news about sterling - just a general euro weakness, suspicions that last week's figures were unnecessarily gloomy and a vague talk of Middle Eastern demand for sterling.
If the QE isn't extended at next week's meeting of BOE MPC, expect sterling to soar!


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## jojo

Joppa said:


> Strange, isn't it?
> The pound is now above 1.1050, just about the level it was before last Friday's bombshell about continuing recession. No real news about sterling - just a general euro weakness, suspicions that last week's figures were unnecessarily gloomy and a vague talk of Middle Eastern demand for sterling.
> If the QE isn't extended at next week's meeting of BOE MPC, expect sterling to soar!



Well if they've got any sense they wont extend QE as a punishment to the bankers who seem to be simply putting it in their pockets!!! 

Jo xxx


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## Hombre

Joppa said:


> Strange, isn't it?
> The pound is now above 1.1050, just about the level it was before last Friday's bombshell about continuing recession. No real news about sterling - just a general euro weakness, suspicions that last week's figures were unnecessarily gloomy and a vague talk of Middle Eastern demand for sterling.
> If the QE isn't extended at next week's meeting of BOE MPC, expect sterling to soar!


Whisper it oh so quietly....the pound is slowly tiptoeing up the charts....1.13040 as we speak...:juggle:


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## jojo

Hombre said:


> Whisper it oh so quietly....the pound is slowly tiptoeing up the charts....1.13040 as we speak...:juggle:


ssshhhhh!!!! I've been watching it too!! I'm just waiting for something to filter down from Merv, to bring it back down again, cos the stuff announced this morning didnt do it!! 

Jo xxx


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## Hombre

jojo said:


> ssshhhhh!!!! I've been watching it too!! I'm just waiting for something to filter down from Merv, to bring it back down again, cos the stuff announced this morning didnt do it!!
> 
> Jo xxx


If it continues I might be able to buy Mrs H some size 20 lingerie...she's been on a diet you see...


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## chrisnation

If you're lucky, you might get a bargain like this

14 Mens Y-fronts
Item condition:	-- new
Ended:	13 Nov, 200915:51:41 GMT
Bid history:	1 bid
Winning bid:	£0.99	

yes - that 14 prs!

13 prs white - 1 pr red. It's years since I had anything 'run' in the wash but now it's 13 prs pale pink - 1 pr red. positively Brightonian.


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## Joppa

I think sterling needs to break out of previous highs around 1.14-1.15 decisely before it heads towards 1.20, a level last seen almost a year ago.


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## JoandGav

HAHA Jo you are sooo right! I watched Merv last month put the pound down and all of a sudden the rate shot down too! It was bizzare to see! Lets hope he doesn't repeat it again tomorrow huh?!
Jo x


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## 2ladies

Suenneil said:


> Im still not sure you will be Hombre. I live in Estepona which does see a significant increase in visitors during the tourist season (both Spanish and non Spanish) ... but I still think its generally cheaper here in Estepona than it is in Marbella, Elviria, San Pedro etc etc. in rents, food, eating out, drinks etc etc.
> 
> If we have a coffee somewhere in town for example its usually around 1.10/1.40 - whereas when Im in our Marbella office at lunchtime I pay 1.80/2.40 !!! ... here in Malaga where I work most of the time its the same - more or less on a par with Marbella.
> 
> I would imagine the supermarket chains are pretty much of a muchness in terms of price - we use Mercadona for 95% of our shopping and I dont think the prices at Mercadona Estepona are any different to Mercadona in Marbella.
> 
> You seem to pay for the "name" rather than the place! lol ... in which case I hope everyone still thinks of Estepona as an out of the way place and too far to come from Marbella for a coffee or a beer!
> 
> Sue


Hi Sue - interested to read your post. We are arriving in Estepona early Jan to look to rent a flat until the end of April. We are also considering an offer in San Pedro. We are totally bemused at the different prices for rentals. 

We hopefully, will do this every year, but it does seem confusing.

Any advice? Thanks


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## jojo

2ladies said:


> Hi Sue - interested to read your post. We are arriving in Estepona early Jan to look to rent a flat until the end of April. We are also considering an offer in San Pedro. We are totally bemused at the different prices for rentals.
> 
> We hopefully, will do this every year, but it does seem confusing.
> 
> Any advice? Thanks


The different rental prices will become apparent when you start to view. Its probably a bit like the UK, in general you get what you pay for. i.e. A flat in Mayfair is gonna cost you infinately more that the same flat in Milton Keynes! Of course theres also a few who maybe "trying it on", but when you come over you'll see. Be prepared to negotiate, cos its a renters market

Jo xxx


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## 2ladies

jojo said:


> The different rental prices will become apparent when you start to view. Its probably a bit like the UK, in general you get what you pay for. i.e. A flat in Mayfair is gonna cost you infinately more that the same flat in Milton Keynes! Of course theres also a few who maybe "trying it on", but when you come over you'll see. Be prepared to negotiate, cos its a renters market
> 
> Jo xxx


Thanks Jo,

That's what we are doing. Looking at Alcazaba Beach and Las Adelfas - but there are much cheaper ones around.


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## jojo

2ladies said:


> Thanks Jo,
> 
> That's what we are doing. Looking at Alcazaba Beach and Las Adelfas - but there are much cheaper ones around.



Its like the UK, there are "areas" and "areas". I fell in love with a place that I was sent once, it looked beautiful, perfect... everything was just right, even the price!!!!!!! - that should have been the clue. I went to see it and realised some rather "inventive" photography had been used. The place was scruffy, dirty and down a track that couldnt be reached by car and was right next to a stables that ponged and there were flies everywhere!!!!!!! If the property had been 200yds up the road, they could have asked double cos the area there was beautiful. Anyway, it'll be fun looking. Thats the most exciting bit :clap2:

Jo xxx


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## 2ladies

jojo said:


> Its like the UK, there are "areas" and "areas". I fell in love with a place that I was sent once, it looked beautiful, perfect... everything was just right, even the price!!!!!!! - that should have been the clue. I went to see it and realised some rather "inventive" photography had been used. The place was scruffy, dirty and down a track that couldnt be reached by car and was right next to a stables that ponged and there were flies everywhere!!!!!!! If the property had been 200yds up the road, they could have asked double cos the area there was beautiful. Anyway, it'll be fun looking. Thats the most exciting bit :clap2:
> 
> Jo xxx


These two developments seem to be about the best in the area. I have been offered a nice one in Duquesa, but it is even further from Malaga - I think.

I do love looking - its exciting. But I have my 94 year old mother with me. Makes it difficult. Booked into Marriott timeshare Estepona for 4 nights and will look around. Plenty available as you say!!


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## jojo

2ladies said:


> These two developments seem to be about the best in the area. I have been offered a nice one in Duquesa, but it is even further from Malaga - I think.
> 
> I do love looking - its exciting. But I have my 94 year old mother with me. Makes it difficult. Booked into Marriott timeshare Estepona for 4 nights and will look around. Plenty available as you say!!


Heck, 94!!? Thats a mighty fine time to be jetsetting around Europe! Good for her. :clap2::clap2:

Jo xxx


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## 2ladies

jojo said:


> Heck, 94!!? Thats a mighty fine time to be jetsetting around Europe! Good for her. :clap2::clap2:
> 
> Jo xxx


Yup - we gotta do it now, or not at all!! Was in Majorca last year - OK, but we may find this more compatable - I hope!!


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## jojo

pounds up to 1.20 !!????? hhhhmmm

Jo xxx


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## jimenato

jojo said:


> pounds up to 1.20 !!????? hhhhmmm
> 
> Jo xxx


But is it Pound up or Euro down? :noidea: Although I don't suppose that it makes that much difference to most on this forum...


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## mrypg9

jimenato said:


> But is it Pound up or Euro down? :noidea: Although I don't suppose that it makes that much difference to most on this forum...


More likely the latter. £ not strong against other currencies.
Incidentally, Standard & Poore are being sued in the U.S. for amongst other sins their part in the sub-prime scandals.
Yet their ratings and those of Moody, Fitch et al still have tremendous clout with the markets....


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## mrypg9

Quoted rates vary from 1.97 to 1.14 euros to £1 so the 'real' rate will vary from 1.10 to 1.16, I guess.
Or less in Marks and Spencer!


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## mrypg9

Meant to add....now that the Pru deal with AIA isn't going through there won't be the need to buy dollars for the purchase so that will affect the £.


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## Joppa

jimenato said:


> But is it Pound up or Euro down? :noidea: Although I don't suppose that it makes that much difference to most on this forum...


UK finance is in a pretty sorry state, but the market feels eurozone, esp on the periphery is worse. So those European currencies that have opted out of euro (even though they meet the Maastricht criteria to join) have risen, like sterling, Danish and Swedish krone. Those currencies in Central and Eastern Europe (CEE) from countries with a poor economy and fiscal imbalance, such as Polish zloty, Hungarian forints and Czech krona, have fared worse than euro, so this summer may be a good time for Britons to holiday there - I'm going!
Good to see sterling finally approaching 1.20, first time since 2008:clap2:


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## JBODEN

Joppa said:


> countries with a poor economy and fiscal imbalance, such as Polish zloty, Hungarian forints and Czech krona, have fared worse than euro,


On the Polish front I think that you are wrong. The always seem to get the backlash from what's happening in Hungary.


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## mrypg9

Joppa said:


> UK finance is in a pretty sorry state, but the market feels eurozone, esp on the periphery is worse. So those European currencies that have opted out of euro (even though they meet the Maastricht criteria to join) have risen, like sterling, Danish and Swedish krone. Those currencies in Central and Eastern Europe (CEE) from countries with a poor economy and fiscal imbalance, such as Polish zloty, Hungarian forints and Czech krona, have fared worse than euro, so this summer may be a good time for Britons to holiday there - I'm going!
> Good to see sterling finally approaching 1.20, first time since 2008:clap2:


Poland's economy is the only one in the EU to have shown any growth in the past year. 
The facts remain that sterling has not risen for the reasons I explained above. The euro has dropped.
As for it being a 'good time to holiday' in Poland, Czech Republic and Hungary: I can't comment on Hungary but you will get an unpleasant surprise if you think that Poland and the Czech Republic are 'cheap' even when comparing the koruna and zloty to the euro you will get an unpleasant surprise!
The days when holidays in Central and Eastern Europe could be described as 'cheap' are long gone. Not only have prices for food and accommodation risen steeply, it is generally agreed that in the Czech Republic especially service standards are poor and have a long way to go before they approach anything like Western standards.
When I left Prague in December 2008 the Czech koruna was strong enough to enable me to purchase euros on which I am still living two years later!! And I had bought the CZK used for this purchase with sterling I had exchanged three years earlier at a rate of £1 to 42.5 CZK. When I bought the euros the £1 bought you 28 CZK.
Of course you can have a 'cheap' holiday in the CR and elsewhere in the former Soviet bloc states -you can have a 'cheap holiday anywhere! - but value for money is also a consideration for some people. 
Prague, where most tourists go, is a beautiful city but any visitor needs to be aware that it is one of the top 'rip-off' destinations in the world. 
Specially inflated prices for unwary tourists, rapacious taxi drivers, unbelievably poor service standards are unfortunately all too typical. Add to that the fact that few tourists have any knowledge of even the most basic phrases in Czech.
I speak Czech and lived and worked there long enough to know my way about but my last memory of Prague is a heated argument with a thieving taxi driver who tried to charge me treble the rate for driving me home from the airport.
I don't want to put people off going to these places -the more visitors who go and complain at poor service etc. the faster standards will rise -but it is not a destination on the same level as say Portugal or Greece.


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## mrypg9

JBODEN said:


> On the Polish front I think that you are wrong. The always seem to get the backlash from what's happening in Hungary.


You are right. Many Poles who flocked to the UK to work after 2004 have gone home as the purchasing power of the Zloty has risen steeply against the £ and the Polish economy is taking off at last.
The fact remains that the current -and I fear transient -apparent rise against the euro in no way reflects the strength of the £, alas.
The major factor in yesterday's rise was the collapse of the Prudential/AIA deal. If successful, this would have necessitated a major selling of sterling to purchase the $ needed for the acquisition.
It seems that currency fluctuations, often extreme, will be a fact of life for a considerable period of future time.
I saw my £ income shrink by a third almost overnight in the CR three years ago. Who can predict a week ahead, let alone a month in today's volatile world?
Warlike noises from North Korea can send currency markets into turmoil. The BP fiasco will adversely affect sterling,the investment market and pension funds.
I wouldn't plan my August/July holiday on June 2nd currency exchange rates!


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## jojo

apparently somethings happened to the yen as well ???????

Jo xxx


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## mrypg9

jojo said:


> apparently somethings happened to the yen as well ???????
> 
> Jo xxx


Japanese PM resigned after only eight months in office....


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## Joppa

jojo said:


> apparently somethings happened to the yen as well ???????
> 
> Jo xxx


Their prime minister resigned suddenly - not surprising in view of the fragile state of a series of coalition governments there for more than a decade. A coalition partner (Social Democratic Party) left, leaving with a minority administration. Sign of the thing to come in UK???


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## mrypg9

Joppa said:


> Their prime minister resigned suddenly - not surprising in view of the fragile state of a series of coalition governments there for more than a decade. A coalition partner (Social Democratic Party) left, leaving with a minority administration. Sign of the thing to come in UK???


Well...not really. He resigned because he failed to meet a deadline for removing the unpopular US base on Okinawa. That was the main -and it seems only -reason.
I don't think Cameron has threatened to get rid of the Yanks from USAAF Mildenhall, Lakenheath and other such places!
The Coalition will last in the UK imo chiefly because Parliament will legislate to keep it in power by adopting the 55% rule and fixed-term Parliaments.
There will be a lot of whipping into the lobbies but I'd be very surprised if the legislation doesn't get through the Commons and Lords.
And if some form of PR is in place by the next election then coalitions could be the shape of things to come, in fact most certainly would be.
And most importantly, polls published by Conservative Home show that over 65% of Party members support the coalition.
The reaction on the website to the Telegraph's role in the resignation of David Laws was very interesting indeed, with many posters vowing to stop their subscriptions to the Torygraph.


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## mrypg9

£ beginning to slowly decline...


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## jimenato

And up again...


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## mrypg9

And I bought a fair old amount of euros yesterday...
But all the currency forecast reports indicate that the short/medium term outlook isn't good.
But as we've said before, a chrystal ball or tarot cards would be as much use in predicting exchange rates.


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