Welcome to European Tribune. It's gone a bit quiet around here these days, but it's still going.
At the moment it is for me a little terrifying.

The trend seems relentless. Every day, the Euro appreciates (possibly too much - the Eurozone has its big problems, they just don't make it to the news with so much incompetence on display). The trend since April is just incredible. Markets seem to be pricing in the worst scenario.

Which is not a guaranteed outcome, and indeed faced with a worst case the UK may yet find a way out (EEA, or even second referendum). But a year from now this would not have happened, so it may be the nadir for Sterling, with a guaranteed full catastrophe priced in and maybe an excess in that, as currency depreciations tend to first overshoot (in fact they must, otherwise there would be an opportunity for arbitrage).
And a year from now is when I must leave. School years end in the summer, so it cannot be done before, nor later without risking being after a cliff-edge exit.

At this rate, I am getting quite concerned with how little our savings will be worth in euros when we have to convert them - to have a place to live.

Of course, if the cliff edge happens, then I should start to worry about how much my pension pot will be worth, but that will be a problem for when we are over 55, so less immediate.

Earth provides enough to satisfy every man's need, but not every man's greed. Gandhi

by Cyrille (cyrillev domain yahoo.fr) on Wed Aug 23rd, 2017 at 08:18:35 AM EST
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