the state of the euro

kierkegaard1 · Forum Veteran Joined: 10 Jan 2010 Posts: 1074

is anyone particularly finance-minded?

i have a bunch of my roll currently in euro. is this a bad idea? is the euro going to collapse and become worthless against the pound?

someone plz help Smile

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icemanv6 · Posted: Tue Jan 10, 2012 12:29 pm Post subject:

Its looking more like its going to collapse then not collapse at this rate, so no its not particularly good Smile

. Whilst if it did collapse it wouldn't be completely worthless if your a country who currently uses it, you can bet no one would be wanting to buy it which would basically mean exchanging it into pounds would cost you a considerable sum..basically because it would be semi worthless costing you money.

Just spoke to my boss about it as he's quite knowledgeable on this stuff, basically if it crashes your euro will be worth not a lot too the pound so yea pretty much worthless. For now you should be fine but be careful.

Bottom line is if it crashes your euros are going to be worth not a lot in pounds..or any other strong currency for that matter.

Watch out about news with Greece if they have to default in regards to there debt..basically means they'll be dejected from the euro. And that will be bad.
Can't imagine it collapsing for maybe a year even if it does but the more bad news in regards too this situation then the more the euro will likely weaken against other currencies.

U Cook Socks · Posted: Tue Jan 10, 2012 1:32 pm Post subject:

Pftt, just started playing Euro games on Stars,

Worth just going back to $ games ?
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icemanv6 · Posted: Tue Jan 10, 2012 1:39 pm Post subject:

It won't just go crash bang wallop without any kind of notice and as said before should be fine for now and probably for least a year. If worried keep funds in euros to an absolute minimum possible Smile

kierkegaard1 · Forum Veteran Joined: 10 Jan 2010 Posts: 1074

surely if euro weakens v pound that means i get more pounds for my euro.

ie if 2euro = 1pound, and it weakens to 1.5euro = 1pound, thats good for me when i withdraw?

am i being stupid?
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The Angler · Baller Joined: 18 Sep 2010 Posts: 460 Skype: jabular1911

Moving from 2 to 1.5 Euros to the Pound would be strengthening of the Euro and yea you'd get more when you withdrew.

U Cook Socks · Posted: Tue Jan 10, 2012 2:54 pm Post subject:

I am utterly confused now (It doesn't take much)
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BetMagicMoney · Posted: Tue Jan 10, 2012 3:19 pm Post subject:

icemanv6 · Posted: Tue Jan 10, 2012 3:20 pm Post subject:

Basically if the euro dropped from 2euros = 1pound too 1.5euros = 1 pound then the euro would strengthen. If it weakens it'll increase, effectively meaning you need to spend more euros to get A POUND. Think of it the other way, 1 pound would buy you a shitload of euros but a shitload of euros would only get you a pound.

Your thinking correctly but from the wrong way round kierk kierk Smile

That's why its cheap to go to places like Thailand compared to them to go to the UK as the pound is stronger then there currency.

As you'd be exchanging from euros to pounds you dont for example want 1 pound worth 20 euros..that's BAD for you if you hold euros and want to exchange it for pounds.

Quick example. If 2euros = 1 pound now and you have 100 euros that's 50 pounds. If euro collapses and lets say 20euros is now worth 1 pound,100 euros will only translate to 5pounds.

Hopefully this clears it up for you guys.

U Cook Socks · Posted: Tue Jan 10, 2012 4:03 pm Post subject:

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