Saturday, Nov 15, 2008
How the Market sees the UK
Independant: It's official: eurozone collapses into its first recession
Europe's economy officially collapsed into recession for the first time since its inception during the third quarter, boosting hopes that the European Central Bank will be forced to cut interest rates again in December. In spite of further expected rate cuts in Europe, the euro continued to strengthen against the pound, as investors speculated that the recession would be deeper and longer in the UK than on the Continent.
Posted by alan @ 09:13 PM (350 views) Add Comment
3 Comments
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1. planning4acrash said...
Problem is, will the Eurozone people see this as a failure of the ECB (which they should) or will they be sucked in with the new talks of a global solution?
2. bystander said...
Will this have ANY detrimental effect on the strength of the euro versus the pound. NO, didn't think so. Traders will be looking at anything GB and AD said after the G20 ended and mae up their minds how far to drive sterling down when they reach their desks in Asia tomorrow night. That said it appears that the Asian currency traders lift the pound while our own and the US traders try their very best to bury it. Obviously they have much more to gain, their bonuses for one, by destroying one thing after another for personal gain. I do not buy it that the UK is worse placed than the whole of the Eurozone and the US. I want HPC, but it would be nice to still have a national currency. everyday I am getting more and more fearfull that we are being deliberately dragged down to parity and beyond to give GB a stick with which to batter the UK sheeple into joining the eurozone and cashing in all his euros (bought with the proceeds of his superb deal on the UK gold reserve) and looking like a financial genius. There used to be a place for people like him, but it's now a tourist attraction.
3. japanese uncle said...
Vote for any party that supports independent GBP! UKIP for instance. Certainly, 1.5 pp blunt IR cut was most likely intended to destabilize GBP.