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Re: Your Circumstances Post the Vote
Posted: Sat Apr 07, 2018 3:01 pm
by Steve - SJD
ApusApus wrote: ↑Sun Apr 01, 2018 10:20 am
Of course the referendum had an effect on the exchange rate but its not the only factor by a long way. If that was the case then we wouldn't have seen the plunge in 2008 when a referendum wasn't even a blip on the horizon?
In 2008 the financial crisis & banking collapse hit that was the reason for the drop - another
major event just like the Brexit referendum and with similar consequences.
Cheers
Steve
Re: Your Circumstances Post the Vote
Posted: Sat Apr 07, 2018 4:37 pm
by ApusApus
Wasn't the banking crisis of 2008 a worldwide crisis caused by the subprime market in the US Steve
https://en.wikipedia.org/wiki/Financial ... _2007–2008 
Perhaps a more accurate analysis of Sterling's plunge at the time can be found here
https://www.economist.com/node/12814762 ..... still no Brexit in sight as far as I can see
Shane
Re: Your Circumstances Post the Vote
Posted: Sat Apr 07, 2018 5:30 pm
by Steve - SJD
ApusApus wrote: ↑Sat Apr 07, 2018 4:37 pm
..... still no Brexit in sight as far as I can see
Yes I know - my point was that you were referencing the drop during a major worlwide financial crisis.
So yes the referendum wasn't on the horizon but there was a reason for that drop in 2008 which is often not noted.
Yes the post Brexit referendum drop is not unique as it happens when there is a major lack of confidence
in the financial markets - so not good news then and rather self-inflicted.
Cheers
Steve