Even at parity with the Euro, is the pound still overvalued?

[MrMark]

You can still travel further on the Munich or Madrid metro with one Euro, than with a pound in London. You can still buy a drinkable bottle of plonk for 2 Euros or less in many Euro countries (including German supermarkets).

Maybe we've been kidding ourselves all these years. We've had a strong pound as a result of North Sea Oil, and dodgy City gambling. Now it's coming down to its genuine value. Nothing to do with g.Brown (or even M.Thatcher). We've expected the world to owe us a living. Now reality starts.

[AtW]

Nothing to do with g.Brown (or even M.Thatcher). We've expected the world to owe us a living.

They are both responsible in my view - Brown more so since he could have at least prepared for when the economy goes bad, but he wasted all that money. Thatcher did some good things however I think she shares big responsibility for destroying British industry, probably other PMs before her too.

[Olly]

rubbish

You can still travel further on the Munich or Madrid metro with one Euro, than with a pound in London. You can still buy a drinkable bottle of plonk for 2 Euros or less in many Euro countries (including German supermarkets).

Er...care to back that up?
I'm in Munich now and came from London. I'd like to see (disprove) your example.

Been working my way through cheap reds at Aldi, Lidl and bigger supermarkets, 3 euro is about the break drinkable point....

sooooooo ..shutupayaface

[swamp]

I remember when it was 9 French Francs to the pound. We're not in new territory. Quite pricey to buy French bangers on the school trip IIRC!

[Sysman]

Maybe we've been kidding ourselves all these years. We've had a strong pound as a result of North Sea Oil, and dodgy City gambling. Now it's coming down to its genuine value.

That argument always struck me as a con. We had a strong pound because of high interest rates, not North Sea Oil. We had high interest rates because Maggie put them up in the first place.

It knackered manufacturing with the double whammy of the cost of raising capital and making export uncompetitive.

[MrMark]

Er...care to back that up?
I'm in Munich now and came from London. I'd like to see (disprove) your example.

Been working my way through cheap reds at Aldi, Lidl and bigger supermarkets, 3 euro is about the break drinkable point....

sooooooo ..shutupayaface

I bought bottle of reds in Regensburg - which is close to Munich - for under 2 Euros. Mind you it was a couple of years ago, so prices may have changed. Point is, a drinkable bottle of wine in the UK normally starts here at 4 pounds (and even then you're putting your life in danger).
What about the public transport point then? Do you have a four pound minimum fare on the Munich underground?

[Olly]

I bought bottle of reds in Regensburg - which is close to Munich - for under 2 Euros. Mind you it was a couple of years ago, so prices may have changed. Point is, a drinkable bottle of wine in the UK normally starts here at 4 pounds (and even then you're putting your life in danger).
What about the public transport point then? Do you have a four pound minimum fare on the Munich underground?

4 pound wine might be 3 euro here, not less, El diablo actually costs more here.

Any dick who doesn't use an Oystercard deserves to pay 4 quid.
There's no discount equivalent on in Munich except for a stripe card
I don't have to disprove, you have to prove.

[MrMark]

4 pound wine might be 3 euro here, not less

You've just proven my point. (many) things still cost more in the UK than Europe. Perhaps the pound's got further to fall.

[minestrone]

When I was in Berlin last month I was shocked how cheap it was to get the train from the airport to the city station. Zurich was the same last year.

In the UK they would screw you over knowing that if you never picked the train you were at the mercy of the Taxi drivers who would really screw you over.

[PRC1964]

4 pound wine might be 3 euro here, not less, El diablo actually costs more here.

Any dick who doesn't use an Oystercard deserves to pay 4 quid.
There's no discount equivalent on in Munich except for a stripe card
I don't have to disprove, you have to prove.

Why the hell should I have to "rent" an Oyster card for the 2/3 times a year I enter London?

Why should a tourist be made to get one when they are here for one day?