When making a post, please ensure it complies with this site's Main Rules at all times.
  • On 23 June 2016 the pound stood at 1.76 against the Euro. That is, you could get 1.76 Euro for your pound.

    Today's rate is 1.18. Sterling has lost almost a third of its value against the Euro in six short years. Nice one, Brexit. I'm sure holidaymakers are loving the hit in the pocket.

    Fears grow that sterling is taking on 'emerging market' characteristics

    We know all about the pressures on the pound ranging from the costs of covid to helping Ukraine, whereas other countries economies and currencies are experiencing all the same pressures, the pound is doing significantly worse. Inflation, supply chain problems caused by Brexit and slowing growth, soon to become a fully fledged recession (while European growth is small - but it is growth), are hitting the beleagured pound. A leading expert says:

    “The challenges facing the BoE are unique along with a supply dynamic that remains wholly unwilling to discuss: Brexit. This has resulted in a confusing communication strategy: hiking rates against a sharply slowing economy is never a good look for any currency,” Sharma said.

    “An alleviation of the current risk off environment and fiscal stimulus may provide some relief but the damage has been done and the outlook for GBP looks grim.”

    The change of party leader in 10 downing street isn't going to make anything better because they are still going to follow a hard Brexit line. Leave means Leave (unless you're Boris Johnson when leave means drag it out as long as possible) and the Brextinctionists are determined to destroy the country in pursuit of their impossible dream. They have learned nothing.

    When Britain rejoins the EU, we will be required to join the Euro. This will be a good thing. Not only is it likely to save whatever is left of the British economy by that time, but it will also tie the country to Europe in a way that can never be undone. The pound will cease to exist. Economically, it will be the only way. Politically it will the tie to the continent we should have put in place in 1973. It would have prevented all this happening. Better late than never.

    Just telling the truth, that's all. I know you don't like it, but there it is.

  • Once again we can rely on ITGirl for a highly misleading post which paints a picture of slow and steady decline caused by Brexit and reference to a highly bias source to back her up.

    The truth is somewhat different. The pound dropped rapidly in value in the aftermath of the Brexit vote and has remained much the same ever since within the normal boundaries of currency fluctuations. The graph below sourced from Bloomberg clearly shows the drop and thereafter the rough average value is pretty much the same since except for the dabblings of the chancers on the money markets who artificially pump up the price only to then let the air out again so they can make a few quid along the way.

    ITGirl - you know what you are doing!

    Celebrate it, Anticipate it, Yesterday's faded, Nothing can change it, Life's what you make it

  • The pound is not the only currency to taken a tumble

    I think the point that ITGirl is mis-leadingly trying to make is that Brexit is slowly sapping the strength of the pound and it is getting worse with each passing year causing so called experts to get depressed.

    Truth is the pound was immediately devalued by the Brexit vote losing 30% of its value over a matter of days. It then stopped dropping and remains relatively stable ever since. We knew this would happen, it was no surprise, but still the remainers try to make a point out of something that was expected to happen and then did.

    Celebrate it, Anticipate it, Yesterday's faded, Nothing can change it, Life's what you make it

  • I knew what she meant , yes I agree with your comment , and yes Remainers only support Democracy when the decision goes their way.

  • I think the point that ITGirl is mis-leadingly trying to make is that Brexit is slowly sapping the strength of the pound and it is getting worse with each passing year causing so called experts to get depressed.

    Truth is the pound was immediately devalued by the Brexit vote losing 30% of its value over a matter of days. It then stopped dropping and remains relatively stable ever since. We knew this would happen, it was no surprise, but still the remainers try to make a point out of something that was expected to happen and then did.

    I freely admit to my anti-Brexitness. It is something that I have come to be quite proud of and committed to. Remember, I voted leave because of the things I was told at the time and being told that the pound would fall dramatically and that it was to be expected was NOT one of them. We were told it would be all gravy. We were told many things, that would be wonderful, sunlit uplands, no disadvantages, and we could expect riches for all to flow. Dont' deny it. That was the message being pumped out. And it was all lies. So please don't give me the usual 'teething troubles' bullshit because it just doesnt wash.

    I was pointed to this forum by somebody I came into contact with when I first became aware of rejoin campaigns via my daughter who was picking up stuff online directed towards young people. She was upset about how it is all going to impact on her generation. She showed me some sites and I started to read them and at first I spoke up for brexit. They changed my mind. This site came up in a chat with a rejoin activist who had been here (I got talking to her at first to warn her off because she is a lesbian and I used to be quite anti about gays but she turned out to be really nice) she taught me how to respond and has been a great influence on me and we are good friends now.

    She suggested I try interacting with the hardcore leavers and right wingers who post here if I wanted to understand what brexiter mentality in the general population is like. She said it is important to understand your enemy and I remembered my husband saying something like that once about islamic terrorists. I must say this place among others has been an eye opener and it has only served to make me more determined to oppose Brexit. I still chat with her and we laugh about this place, but we know it isnt a laughing matter really.

    I have learned much and changed radically over the last 18 months. I write things I never thought I was capable of thinking before. Not just because of this place although it has given focus to my thinking at times. My eyes are opened to the dire threat extemist right wing politics is doing to our country and becauseof that, my daughters future. She is all I have left of my husband who I miss terribly, day after day after day so for her sake I do what I do and coming to this place to see what the enemy is thinking is a part of that.

    And if you argue that we arent changing anything then your wrong. Three years ago, Johnson had just got a landslide election victory and apparently Brexit was done with an oven ready deal that was going to deliver everything that had been promised. Today, Johnson is out on his arse in disgrace, the Tory party is tearing itself apart. Johsnon is out because people who saw him for what he is wouldn't let it lie down. You all said that its 'boring' and we should 'move on' and 'there are more important things to get on with'. We weren't having that. We weren't going to let it all be swept under the carpet. Johnson is gone because good people wouldn't quit. Wouldn't give in.

    I care about my daughters future. She has just taken her GCSE's and I want her to get good grades and do well. Everything bad in this country stems from Brexit. Some things, like Covid affected the whole world, but in Britain, Brexit has exacerbated the effect. there is nothing in Britain that it doesnt touch either directly or less directly. it is everywhere because the tories make it so. So dont try to shift the blame or pass it off as happening elsewhere too. yeah bad things happen elsewhere but here they are made worse by brexit.

    Three years ago, Johnson told us that Brexit was "done". We rejoiners say, "No it isn't." not by a long way. It will never be done. Ever. We will fight it for as long as it takes to kill it. Thats a promise.

    Just telling the truth, that's all. I know you don't like it, but there it is.

  • Remember, I voted leave because of the things I was told at the time and being told that the pound would fall dramatically and that it was to be expected was NOT one of them.

    Yes it was. George Osbourne made this abundantly clear as part of his daily doom mongering.

    As the City of London would be adversely impacted by Brexit it was an obvious truth that could be easily foreseen.

    Most people who voted to leave worked out if the downsides would hurt them particularly. If I had established that Brexit would be personally painful to me I would’ve voted remain.

    Maybe you should’ve done your own homework rather than looking at somebody else’s?

    Celebrate it, Anticipate it, Yesterday's faded, Nothing can change it, Life's what you make it

  • I don’t know who you were listening to, but my understanding was that we would take a short term hit and then build back up.

    What you are missing is that while we have left the EU, we haven’t yet put in place the measures that will make Brexit a success. We haven’t even tackled that bureaucratic EU legislation yet!

    Before judging whether Brexit is a success or a failure, we need to take the necessary measures that are needed to take advantage of our new freedoms.

    We get your scepticism, but you are jumping the gun with your pronouncements.

  • I was o holiday at the time of the EU referendum so I didn't vote. However as I believe in Democracy, I accepted the will of the majority of my fellow countrymen and women and welcomed the result. Yes, it's taking a while for all the advantages of not being ruled by Brussels taking place.. Yes decisions were made which were plainly not right such as accepting the EU's stupid idea of a customs border down the middle of the Irish sea instead of where it should have been at the traditional Border between the UK and the ROI . BUT apart from that the future is good for the UK and it's ability to trade with the world.

    The Voice of Reason

  • Say thank you LW for the little image posted above I once made some years ago when Hague was busy campaigning to keep the pound. I was a red hot chili pepper activist then. I used that image as my avatar. I was that keen :|

  • I was o holiday at the time of the EU referendum so I didn't vote. However as I believe in Democracy, I accepted the will of the majority of my fellow countrymen and women and welcomed the result. Yes, it's taking a while for all the advantages of not being ruled by Brussels taking place.. Yes decisions were made which were plainly not right such as accepting the EU's stupid idea of a customs border down the middle of the Irish sea instead of where it should have been at the traditional Border between the UK and the ROI . BUT apart from that the future is good for the UK and it's ability to trade with the world.

    I too believe in Democracy I will never forgive John Major for taking the UK into the EU without asking the electorate, I waited for years for the Referendum and delighted at long last we were out.

    I knew it would not be plain sailing the EU was livid that we had dared to leave, the still especially the French its their way or no way at all IMHO, the future does indeed look good for us.

    As for the EU's border in the Irish Sea sheer lunacy, however if we or the EU reinstated a hard border between again that has its difficulties as well it would be like a Red Rag to a Bull to the IRA.

    Having spent quite a lot of time in the Republic over the last 40 odd years , and crossed the border into NI on some occasions I was never stopped at the border going in either direction as most of the Border Post had been blown up by the IRA., even if a post was manned they just waved you through .

    Plus the border is honeycombed with narrow lanes where one moment you are in the North the next in the South they can't man them all 24/7 that is how the IRA could slip in and out at will, or simply walk cross the fields.

    They are going to have to come up with a better solution, that suits us and the EU

  • On 23 June 2016 the pound stood at 1.76 against the Euro. That is, you could get 1.76 Euro for your pound.

    We're in challenging times and at time of writing, the euro is now at parity with the dollar, so it's not just sterling that is struggling.

    We are yet to see any benefits from Brexit due to the pandemic, but once that is past us, hopefully we will.

  • The pound is a power currency outside of your region. It's so strong no one can buy anything from the UK. No one can understand why it is kept so high. It's throttling British industrial output.

  • The pound is a power currency outside of your region. It's so strong no one can buy anything from the UK. No one can understand why it is kept so high. It's throttling British industrial output.

    And that is why the devalued pound is here to stay. Whilst in the EU most of our exports stayed inside the EU but now we have to be competitive outside. I don’t see the pound getting any lower though as it drives up living costs here.

    Celebrate it, Anticipate it, Yesterday's faded, Nothing can change it, Life's what you make it

Participate now!

Don’t have an account yet? Register yourself now and be a part of our community!