Great British Pound Declined Below Euro

December 19, 2008 · Posted in Economy 

Great British Pound against Euro on December 17 2008Good news or not so good news? For some of the British citizens who are staying outside the country, earning in Euro, and other European Union (EU) citizens will find this is probably the best time to pray on the weak British Pound. Has anyone expected that?

The answer is yes. But, not many would have forsee that it could come so soon. By allowing the Great British Pound (GBP) to drop below the 1.0 exchange rate against EURO, it takes a lot of gut for the Prime Minister, Gordon Brown, of the United Kingdom to allow that to happen.

From the look of it, next year’s outlook is bleak, no matter which part of the country you are in. However, one possible outcome from here is that, it could not get any worse. I would predict next year’s June is the lowest point of the economic crisis; after which things will slowly pick up.

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