Pound Weak Euro Exchange Rates
Published / Last Updated on 18/09/2009
Pound Weak – Euro Exchange Rates
The pound has fallen to a four month against the Euro, trading as low as €1.10 to the £1 last week.
The pound has weakened as public sector borrowing kept climbing, with the British Government in debt to the tune of £805bn. This is 58% of our gross domestic product.
To put it in perspective, if you earn £20,000 pa, imagine having an overdraft of £11,600 and not being able to afford the interest payments.
That is what this Government has done for you. The pound is of course weaker as many expect recession and recovery to be a long and rocky road and not the easy out that Labour and certain Banks would have you believe.
Therefore, who wants to buy sterling? Not many.
Useful links:
Contact us - Book Callback - Free Consultation - Newsletter - Money MOT - Discounts
