Last month, the Euro fell to parity against the US dollar last month for the first time in more than 20 years. It has bounced back to €1.03 but is still massively short of the €1.18 hit nearly a year ago.
Eric Noirez, a prominent EU critic and member of the Generation Frexit campaign in France, told Express.co.uk: "The Euro is a system that has reached the end of its tether.
Their policy has consisted of massive monetary creation, and this in a totally unreasonable way ... it will lead to eurozone collapse ... The recession is obvious ... the biggest financial crisis in its history ... An absolute madness!
Presumably all those woke traitor hedge fund managers are to blame.
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Because that would be whataboutism. There is currently inflation which is being stoked by the current government who is also making statements which don't add up that then makes financial institutions nervous.
Mortgage rates jumping from 1.5% to 6% in one year is quite a lot regardless of other people's problems. Freezing new mortgage offers during a very volatile period is understandable and also concerning.
The current strength of the dollar against all other major currencies isn't wahtaboutism, is a basic reason for the current situation that has been purposely omitted.
I think you mean the pound, since this is what we are talking about.
The current situation in the UK is due to economic policy from the past 10+ years. Suppressing interest rates to nothing, and encouraging borrowing for extended periods is not fiscally responsible.
Make hay while the sun shines unfortunately did not happen, so now the clouds are rolling in there is no buffer.
Look at a graph of USD against GBP, Euro and Yen for the past 5 years. I agree with the general sentiment but this isn't a problem that is exclusive to the UK.
Do we have an article talking about some financial institutions suspending new mortgage offers in the Eurozone?
I'm not saying that inflation isn't a problem elsewhere, I'm saying that the issue in this scenario is that the markets are panicking due to general long term financial mismanagement and doubt over the sustainability of current policy from both the Government and the Bank of England.