European Elections and the Pound.

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  • 20th June 2024 at 12:05 pm #600656

    In spite of all the political unrest in Europe at the moment, one of the few benefits that those of us who live across the water have seen has been the strengthening of the pound. I’m sure that for the majority of us this is probably the most important factor in our overall standards of living. The reason for this would surely be the worsening of the EU’s financial position as opposed to that in the UK which seems to be ever getting worse itself.

    In spite of all the adverse effects that Brexit has had on us and the fact that rejoining is a complete impossibility, is it simply because we are out of Europe that we are seeing a slight benefit?

    So what would the effect of a future Labour government have on the pound? Traditionally, the Markets in the UK don’t like a Socialist government as they, rightly or wrongly, spend money on social reform as opposed to business investment.

    However, as opposed to the Far Right who hate the sheer existance of the EU, the Labour Party do seem to have, amongst their policies, the desire to at least try to communicate with their near neighbours in spite of all the damage that Brexit has done.

    However, in the short term, what effect will the UK election have on the pound?

    Interesting.

     

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    20th June 2024 at 1:45 pm #600668

    Because both the EU and UK have upcoming elections at the moment it is difficult to say what exactly is having an effect on the exchange rate which seems to be holding at around 1.17-1.18€ so not really a dramatic change. Very difficult to call with so many countries experiencing difficulties and elections all at the same time. I think we will just have to wait and see how it all plays out over the coming weeks. :scratch:

    20th June 2024 at 1:55 pm #600670

    JJ …we have to wait and see!

    one of the great unknowns….and frustrations.

    Fingers crossed.

    8th July 2024 at 10:20 am #601362

    Well – It looks like Macron’s ploy worked albeit in a roundabout sort of way. Whatever people think of him as a President, he would have known himself that, when it came down to it and in spite of all the demonstrations, that the French have never been inclined towards extreme politics least of all those of the extreme right. The more mature members of the population have very long memories, particularily when it comes to Marine le Pen’s parentage and will vote in any direction to keep this in its box.

    Macron would have known that some sort of coalition was inevitable if he were to remain President until the next election but the results of the first round must have caused him a few sleepless nights.

    So, with the UK’s inevitable move to the left and France going in the same direction, we can perhaps hope that, for the moment, the extreme Right have been kept at bay.

    And the pounds still at 1.18…..phew!

     

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    8th July 2024 at 10:52 am #601365

    France has kicked the trend in Europe…

    we can only wait and see the outcome.

    none of the individual left wing parties could have won or even made a dent in the elections…together as a block they managed….it doesn’t make the differences between them disappear…and as we have often seen the promise of power …corrupts.

     

     

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    12th July 2024 at 9:12 am #601495

    GBP continues to strengthen, GDP came in better than expected. And if England win, then Labour will be off to a flying start.

    12th July 2024 at 9:19 am #601497

    There was a wonderful Nono cartoon in the Telegrammme the other day

    Melanchon was trying to gain entry and his companion said do you know the code and Melanchon said Melanchon 2024 did not work

    17th July 2024 at 9:31 am #601652

    Starmer starting to instigate some sensible discussions with the EU about trying to find at least some common ground.

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    17th July 2024 at 4:51 pm #601665

    What a relief that Starmer has already started trying to repair the damage that has been done :good:

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