Getting The Best Exchange Rates in The UK Could be a Thing of The Past

May 14th, 2012

Best exchange rates in the UK are a thing of the past and may take a while to recover if we listen to the experts. The Governor of the Bank of England recently reported that the current global financial situation is at its most threatening since the infamous great depression of the 1930’s. It seems like only yesterday (well 2 years ago to be exact) that leaders from around the world, were happily patting themselves on the back for having avoided the mistakes of the great depression. It appears that the economic difficulties that began in 2008 were simply a taste of what was to come. Once again the European banking system is on the verge of complete financial ruin and the global economy is powerless to stop it, with banks and governments who may have been able to save it, in tatters themselves.

One of the reasons for this threatening global financial crisis is attributable to the fact that our independent financial systems are no longer that and our economies have become dangerously interlinked, this means that when one economy begins to strain and fall, then the next falls, creating a domino effect that is difficult to intercept. The UK once experienced a flourishing economy with booming house prices, successful trade and industry and excellent foreign exchange, with the best exchange rates in the UK history.

It is widely hoped and reported that the current global economic crisis will not or does not have to end in the same way it did back in the 1930’s. To escape the situation will require excellent leadership and a collective resolve. It is thought that one of the major factors that could save the UK and Europe might be offered through recapitalisation of its banks, which could bring an end to the downward cycle in our credit crisis. At a time when taxes are at an all time high and pubic spending is at an all time low, this could be the final straw for the public. One thing is for sure, we cannot afford to throw away a system of global trade that is unparalleled in human history, having lifted many parts of the world out of poverty and propelled many others into financial prosperity. One day it is anticipated that best exchange rates in the UK will be restored. If you need to exchange money visit us at Best Exchange Rates UK for the best rates on the market.