CONCERN 4. To achieve stability of the £ sterling.
Graph from fr.adven.com
2011. We have long been told how parlous
is the state of the Euro. Yet even as
tribulations of the Euro would tend to suggest that the UK Government and Bank
of England are justified in not joining the Euro-world. Unfortunately if the £ had remained strong we
elderly expatriates would all be whooping along gaily. One still feels that if there is ever to be a
true Economic Union then there has to be some stability in economic affairs. This must mean some rigid control of all the
October 13th. 2009 [One Euro = £0.96 ] [Previously One Euro= £0.71]
The £ is declining rapidly. What is its future? Should we, who are both British and European citizens, be subjected to these great fluctuations? One would think that the Bank of England interest rate should match the European Central Bank - At the present time the BoE is 0.5%, the ECB is 1.0% (Oct 13th). It is surely a major factor in the decline of the £ and thus the reduction of spending power of the pensioner's income, [ £ was = 1.40 euros, it is now =1.04 euros - This is a fall of more over 25%.].
Every British retired expatriate in Europe who gets their income from Britain has been subjected to this loss of income
The British Government does not care a toss!
Economics is a dodgy art (written back in 2008).
Eventually the £ should be subsumed in the euro but at a far more favourable rate. Otherwise, what is the point of a European Economic Union?
one should exercise a vote at the next
election to change the Government BUT ALSO write to the Conservatives to
influence that party to become a leader in Europe and to take measures to
strengthen the £ and eventually link it to the Euro.
1. An amateur essay on ‘Money’ and inflation. (click) An analysis of the situation.
2. Observer newspaper article - gloomy reading (click)
4. Lost money in Equitable Life? click for EMAG link
5. REPLY from Bank of England.(click) At least they are sympathetic (though I doubt it!) – Is the Government or are the Politicians as sympathetic?
Various 'postings' on the blog relate to this objective.
Read, then exercise your political power. Write to your MP, a Minister, the Chancellor, or the Bank of England. Their addresses are accessible from the blog