Pound dropped following Supreme Court judgement, but has recovered and increased to 1.1658. Still not great, but better than prophesied post brexit vote. Interested to see where it will go when article 50 is triggered.
Wallace
Pound/ Euro
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Wallace
Re: Pound/ Euro
I should add that very few of the predictions pre the vote have came to fruition. It makes me question expert opinion!
And I voted no based on that opinion.
And I voted no based on that opinion.
Re: Pound/ Euro
Can't say I've seen any reports of 4% inflation-? about 3.5% is the most likely worst case scenario next year and given that the Bank of England's target rate is 2% it's hardly much to worry about (fiat currencies need inflation) Nobody is taking a barrowful of money to buy a loaf of bread yet 
Prime Minister of Spain is getting a bit of a squeaky bum though- his country has a unemployment rate of 21%, an "inflation" rate of -0.2% (which is a lot worse than an inflation rate of 3.5%) and Brexit has the capacity to hit Spain a lot harder than it will hit the UK.
If inflation rises in the UK without a commensurate rise in wages then living standards do indeed start to get hit- that means fewer Spanish holidays, French wines and German cars. That's without the exchange rate factor
Anyone who thinks Brexit is a process that will only damage the UK is wrong- if the EU tries that it damages every single one of it's other member states.
If Britain ever finds itself in as big a mess outside the EU as some countries are inside it then it's time to start worrying
Prime Minister of Spain is getting a bit of a squeaky bum though- his country has a unemployment rate of 21%, an "inflation" rate of -0.2% (which is a lot worse than an inflation rate of 3.5%) and Brexit has the capacity to hit Spain a lot harder than it will hit the UK.
If inflation rises in the UK without a commensurate rise in wages then living standards do indeed start to get hit- that means fewer Spanish holidays, French wines and German cars. That's without the exchange rate factor
Anyone who thinks Brexit is a process that will only damage the UK is wrong- if the EU tries that it damages every single one of it's other member states.
If Britain ever finds itself in as big a mess outside the EU as some countries are inside it then it's time to start worrying
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johnoddy
Re: Pound/ Euro
We had a huge dark cloud appear over Fyti, it was so gloomy that I ran outside to check HiC wasn't underneath it!
Re: Pound/ Euro
HiC uses his own economic indicators- the Wishful Thinking Index and the Delusional Outlook Scale which are applied in liberal doses to try and sit with his political point of view.
Hence we got the great post Brexit vote apocalypse scenario (which has been a complete damp squib) and the great Cyprus economic recovery hypothesis (whilst unemployment and national debt have both gone up, deflation persists and Cyprus gets warnings from the EU about it's budget deficit)
All very strange
Hence we got the great post Brexit vote apocalypse scenario (which has been a complete damp squib) and the great Cyprus economic recovery hypothesis (whilst unemployment and national debt have both gone up, deflation persists and Cyprus gets warnings from the EU about it's budget deficit)
All very strange
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cyprusgrump
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Re: Pound/ Euro
As has been pointed out many times the doom scenarios were predicted for the immediate aftermath of a Brexit vote. Not on the triggering of Article 50, not when we finally left but in the immediate aftermath of the vote...Happy in Cyprus wrote: ↑Wed Jan 25, 2017 2:25 am As has been pointed out many times, Brexit has not started yet; it's still early days. Inflation for the UK is set to rise to 4% as a consequence of the pound's recent decline. Considered opinion is that the pound will decline further after Article 50 is declared, the 'negotiations' start and the new reality - a bit like Trump's presidency - sets in
Take unemployment as just one example (there are many others)...
The Treasury said...
Of course, nothing like that has happened...“a vote to leave would represent an immediate and profound shock to our economy. That shock would push our economy into a recession and lead to an increase in unemployment of around 500,000“
Re: Pound/ Euro
On the news last night it showed that some people who voted Brexit are now regretting it, saying that if they new what was going to happen 12 months ago they would'nt have voted to leave. Too many people believed the hype from Farage and Johnson etc
David
Dishonesty is the second best policy
Dishonesty is the second best policy
Re: Pound/ Euro
Did it also show those who voted remain and on seeing how they were lied to about the economy if a leave vote were successful now saying they wish they'd voted leave? Perhaps on that evidence we should have another referendum? Or maybe just suck it up and move on?
Re: Pound/ Euro
I suspect that those who voted Brexit are probably just fed up waiting for it to happen rather than seriously contemplating changing their minds
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cyprusgrump
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Re: Pound/ Euro
What is going to be very interesting to those of us expats who have chosen to live outside the UK is just how the Brexit is going to affect our lives here. Very little has been said so far on what changes the Brexit may make to things such as taking andvantage of the reciprecal nearly free health care here for all of us that are retired and also how will our UK Govt pensions stand regarding the cost of living annual increases? Or may these be 'frozen'? For those coming to live here, how will the process of buying real estate here be affected. Before CY joined the EU, Brits had to apply to the council of Ministers for permission and also were limited to buying just one house. It was also harder for Brits to come here and start a business, then they had to have a Cypriot partner to achieve this. The immigration process was also much tougher.
Dee
Dee
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cyprusgrump
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Re: Pound/ Euro
But Brits like me managed to do all of those things... and there were plenty here when I arrived in 2002 who had been on the island for years...Kili01 wrote: ↑Wed Jan 25, 2017 1:59 pm Before CY joined the EU, Brits had to apply to the council of Ministers for permission and also were limited to buying just one house. It was also harder for Brits to come here and start a business, then they had to have a Cypriot partner to achieve this. The immigration process was also much tougher.
Dee
I don't recall the immigration process being any 'tougher' when I got my first 'Alien Book' than it was getting the Pink Slip, the Yellow Slip, the ID Card or the second Yellow Slip either (although somewhat more organised in the latter stages and no 'Artistes' jumping the queue)...
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LouiseCastricum
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Re: Pound/ Euro
I remember too very well Dee, but it wasn't just for Brits, the same applied for Dutch, German, French, Scandinavian etc etc etc. but after Brexit, it might become applicable again for the Brits. Who knows..Kili01 wrote: ↑Wed Jan 25, 2017 1:59 pm What is going to be very interesting to those of us expats who have chosen to live outside the UK is just how the Brexit is going to affect our lives here. Very little has been said so far on what changes the Brexit may make to things such as taking andvantage of the reciprecal nearly free health care here for all of us that are retired and also how will our UK Govt pensions stand regarding the cost of living annual increases? Or may these be 'frozen'? For those coming to live here, how will the process of buying real estate here be affected. Before CY joined the EU, Brits had to apply to the council of Ministers for permission and also were limited to buying just one house. It was also harder for Brits to come here and start a business, then they had to have a Cypriot partner to achieve this. The immigration process was also much tougher.
Dee
Louise 
Re: Pound/ Euro
Yes, why?
David
Dishonesty is the second best policy
Dishonesty is the second best policy
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cyprusgrump
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Re: Pound/ Euro
After the decision from the Supreme Court was announced yesterday and they were interviewing several people, one of them was John somebody who said he was representing ExPat Groups and how worried they were re what was going to happen post BREXIT. I don't quite understand what the decision from the Supreme Court had to do with that unless he was just trying to get media exposure re the issues affecting Ex Pats.
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cyprusgrump
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Re: Pound/ Euro
Because the BBC is institutionally biased against Brexit.
The BBC loves the EU (and benefits financially from it). It loves big government, nanny state and mass immigration...
So, expecting to find a balanced view or comment from the BBC on anything EU related is particularly naive...
Re: Pound/ Euro
You know the BBC is doing something right because everybody thinks it is against them.
Web Designer / Developer. Currently working on Paphos Life.
Living in Polemi, Cyprus with my wife and daughter.
Living in Polemi, Cyprus with my wife and daughter.
Re: Pound/ Euro
No answer to that- if everybody thinks it's against them making them pay for it must be even more galling
The alternative theory is that it's not very good at all , but you still have to pay for it regardless - sound familiar ?
The alternative theory is that it's not very good at all , but you still have to pay for it regardless - sound familiar ?
