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snowflux

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Everything posted by snowflux

  1. I fear you may be a little prone to hyperbole, Landagan. Consumer price inflation in Spain has ranged between 3 and 3.5% from 2000 to 2006 (not what I'd call "hyper-inflation") and is currently 4.4% - a bit high, but not exactly "way out of control". I don't deny that Spain has its own housing bubble, but I don't see what that's got do with being in the Eurozone.
  2. This is a common misconception, even by people who should know better. In fact, retail price inflation in the Eurozone flattened in the run up to the switch euro currency, jumped on the switch, and remained flat for a period afterwards. This is actually exactly what you would expect: retailers delayed or brought forward their usual price increases to the switch to keep their XX.99 cent price tags. The overall effect was that, if anything, inflation fell, but, of course, people only remember the jump
  3. A couple of years ago its was the other way round, but things still sorted themselves out. IMO, IRs are an extremely overrated way of dealing with economic problems. The lack of IR freedom in the Eurozone is more than balanced out by the boost in trade resulting from the simplified single market. (The euro is estimated to have increased trade by 5 - 10% in the Eurozone.) The UK is now paying for its failure to join the euro, amongst other things. P.S. Meerkat: I'd bet on Ireland not leaving the Euro within the next 20 years, at least. And then only because of internal problems.
  4. I doubt it. They don't go to the UK to holiday, but to work. When they see how few euros (or zlotys) their pounds buy, a lot of them will be heading home. Like the English in Auf Wiedersehen Pet. Might also affect the housing market
  5. No, I don't think so. Airbusses are made in the UK (well, the wings are), not sold there, at least, not many. Any reduction in sterling against the euro is irrelevant to Airbus.
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