Hey there! Sign in to join this conversationNew here? Join for free

Pound hit 7 year low / decline sharply after boris johnson backed Brexit watch

    • Thread Starter
    Offline

    15
    ReputationRep:
    Almost too dramatic how one man's words can cause chaos to the currency.



    http://www.fxstreet.com/analysis/gbp...st/2016/02/22/

    http://www.theguardian.com/business/...-business-live

    IF UK leaves the EU the pound will drop a lot. It might not be bad as exports will soar and tourism will bring in more revenue. But are you ready for a weak pound? Your purchasing power will reduce and a lot of people will come here as they can afford to spend now.
    Offline

    2
    ReputationRep:
    We are a service orientated country, with estimates saying that services account for 75% of our GDP (London, the financial heart of Europe, if not the world, makes up around a quarter of the UK's GDP by itself).

    The export effect will be minimal at best.
    • Political Ambassador
    Offline

    21
    ReputationRep:
    Political Ambassador
    (Original post by TheArtofProtest)
    We are a service orientated country, with estimates saying that services account for 75% of our GDP (London, the financial heart of Europe, if not the world, makes up around a quarter of the UK's GDP by itself).

    The export effect will be minimal at best.
    It has to be remembered that the service sector is a hell of a lot more than just financial services. A massive chunk of the government spending is the service sector. Real estate is services, both rental and home buying. Transport and retail. Financial services are only about 5-6%

    Posted from TSR Mobile
    Offline

    3
    ReputationRep:
    Just a taster for what may come.

    Posted from TSR Mobile
    Offline

    20
    ReputationRep:
    the met office have issued a red alert for Storm Boris. it is expected to cause havoc within the M25 area. all travel to Europe is suspended.
 
 
 
Reply
Submit reply
TSR Support Team

We have a brilliant team of more than 60 Support Team members looking after discussions on The Student Room, helping to make it a fun, safe and useful place to hang out.

Updated: February 22, 2016
Poll
Do you agree with the PM's proposal to cut tuition fees for some courses?
Useful resources

The Student Room, Get Revising and Marked by Teachers are trading names of The Student Room Group Ltd.

Register Number: 04666380 (England and Wales), VAT No. 806 8067 22 Registered Office: International House, Queens Road, Brighton, BN1 3XE

Write a reply...
Reply
Hide
Reputation gems: You get these gems as you gain rep from other members for making good contributions and giving helpful advice.