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Ben Birchall/PA

The British Pound loves David Cameron

The UK currency jumped as it became clear the Conservatives were on the march to victory. Not such good news for Irish consumers though.

WORLD EVENTS CONSISTENTLY affect financial markets, either for good or ill.

Natural disasters and political upheaval can send stocks soaring, or kill off a company’s shares completely. And one thing that’s certain today is that the pound sterling very much wanted a Conservative victory in yesterday’s general election.

Yesterday’s landslide for the David Cameron-led party saw the value of the pound begin to jump as soon as it became clear the Tories were on their way to victory.

Given all polls before the election proper were convinced it was to be Labour’s day the stagnation of the pound before the dramatic jump makes more sense.

XE XE.com XE.com

The phenomenon makes some sense when you consider the Conservatives would traditionally be seen as the party of free market capitalism.

Unfortunately, it makes things more expensive for consumers on this side of the water. But exporters will love it.

The precipitous fall of the Euro following Mario Draghi’s giant bout of quantitative easing earlier this year is another good example of how dramatic the effect of world events can be on financial markets.

The currency has been in freefall for months, with some suggestions it may fall as low as being worth just 0.8 against the US Dollar by the end of 2017.

Read: These forecasters have some dire predictions for the euro

Read: It’s not the best time to order stuff from America…

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35 Comments
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    Mute ger power1
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    Jun 11th 2015, 10:15 AM

    I home the person/company is found an prosecuted, it will take years to get fish levels back to what they were !

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    Mute John O'Neill
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    Jun 11th 2015, 11:43 AM

    The top picture is of mackerel which are solely a sea fish…doh!

    29
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    Mute Mike
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    Jun 11th 2015, 12:51 PM

    Actually John they’re a breed of Tuna not mackerel.

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    Mute John O'Neill
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    Jun 11th 2015, 3:17 PM

    Noticed that after I posted!

    7
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    Mute Ted Logan
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    Jun 11th 2015, 10:12 AM

    Some Farmers can be so careless. Large fines and even criminal charges should be considered for cases like this. Also farm inspections need to be stepped up. If any other industry had similar incidents they would be shut down.

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    Mute JJ O Riordan
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    Jun 11th 2015, 10:25 AM

    Have you made a conclusion on what caused it? The IIF need someone like you. They’re investigating it at the moment and have nothing conclusive, yet you have it all figured out. Well done.

    54
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    Mute Watcher-on-the-Wall
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    Jun 11th 2015, 10:33 AM

    It’s in the article, JJ – it’s a rural agricultural area, so farms are the prime suspect…

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    Mute JJ O Riordan
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    Jun 11th 2015, 10:38 AM

    Nearly every area outside the cities and towns in Ireland is a rural agricultural area. Doesn’t mean they’re automatically to blame for everything.

    46
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    Mute Jax Maxwel
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    Jun 11th 2015, 10:39 AM

    Fines? you must be joking! The farmer (that’s If it was a farmer) will probably get an extra grant for loss of silage!

    126
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    Mute Justin Credible
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    Jun 11th 2015, 11:13 AM

    I find it hard to believe this could be silage effluent. its only pit silage that allows effluent to run off and be collected in a tank. This is usually collected with the rest of the slurry, and as a result will be greatly diluted by the slurry. I can’t find the date the fish kill was reported, but this hot weather is good slurry spreading conditions. Rain will cause slurry to run off into drains and rivers, but there has been no heavy rainfall in the last 5-6 days to cause this. If this happened during wet weather, then I would agree that it probably was slurry, but with these conditions it doesn’t add up. Look for the smoking gun, if there are fields in the catchment area of the river with freshly spread slurry, then they might be into something, but I really do doubt its slurry.

    39
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    Mute Get Lost Eircodes
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    Jun 11th 2015, 11:44 AM

    Was hiking by the Grand canal about 15 years ago when i came across a fish kill.

    A farmer had taken water from Miltown Feeder using a mobile pump and had pressure washed his silage pit. Subsequently there was torrential rain that washed his silage residue into the ditch beside miltown feeder which then ran straight into the 2nd level of the canal on the barrow line and then the weather warmed up causing a large fish kill.

    There was a huge rescue effort by many in the area and we loaded the fish into pots, pans, dustbins whatever containers we could find and moved to the unpolluted Dublin line.

    I showed the inland fisheries the source of the pollution, you could follow the slick and see the pump but they didn’t want to know, said it was too difficult to prove even though there was a smoking gun. Too much paperwork i guess to make a proscecution and somebody would have to get off their arse.

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    Mute Ben Coughlan
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    Jun 11th 2015, 10:09 AM

    Some farmer dropping stuff into the river most likely..

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    Mute Baz
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    Jun 11th 2015, 10:10 AM

    Doubt it’s a farmer – must likely a business

    61
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    Mute Peter Slattery
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    Jun 11th 2015, 10:18 AM

    Or maybe a bogeyman. There is literally nothing to be gained by speculating.

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    Mute Chuck Eastwood
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    Jun 11th 2015, 10:25 AM

    far more regulation around business from local councils than farmers will ever face

    26
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    Mute Tom Kenny
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    Jun 11th 2015, 10:38 AM

    That was once true but farmers are examined for pollution control and prosecuted for failures now

    26
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    Mute Justin Credible
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    Jun 11th 2015, 11:17 AM

    farmers don’t drop slurry into rivers, that would probably result fines, loss of payments, and a criminal record if convicted.. Also, farmers don’t dump slurry, why waste valuable free fertilizer?

    22
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    Mute selfsustainable
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    Jun 11th 2015, 10:16 AM

    Would it be possible that it’s actually human sewerage? We all know up to 46 councils are allowing raw sewerage to be pumped into water courses around the country. There could be any number of causes ….. could we all not just wait until there’s actual proof of the cause.

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    Mute cholly appleseed
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    Jun 11th 2015, 10:28 AM

    their is only 26 county councils in ireland and a total of 31 local authorities so no idea where you are getting 46 from

    36
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    Mute Tom Kenny
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    Jun 11th 2015, 10:34 AM

    No, that is a more long term problem. This was a spill, killed everything in front of it, It has been washed away now not leaving a trace, (so it says) where as sewerage problems are continuous and easier traced

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    Mute selfsustainable
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    Jun 11th 2015, 10:48 AM

    I stand corrected, councils are pumping human waste in up to 46 water courses throughout Ireland. Appologies!

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    Mute Stuart Keogh
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    Jun 11th 2015, 10:12 AM

    Wait for Iona to blame gay marriage….

    49
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    Mute Christopher Byrne
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    Jun 11th 2015, 12:51 PM

    Almost certainly from a farm. When I worked as a surveyor on motorway construction projects virtually every stream / river we came accross was polluted from farming. Appears to be no one watching or policing the spread of fertilizers or manure

    38
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    Mute John
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    Jun 11th 2015, 10:28 AM

    Whenever or if ever they catch the culprit they will probably be fined something nominal like €100 in the district court, so it’s hardly surprising who ever did it either didn’t care or wasn’t worried about the consequences.

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    Mute Cyrille Bonnard
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    Jun 11th 2015, 10:26 AM

    I hope the person or company responsible for this spill will be found and prosecuted! This is terrible and unacceptable!

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    Mute Jon Mackey
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    Jun 11th 2015, 10:31 AM

    Spokesperson on morning ireland said its most likely silage

    20
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    Mute Mick Bacon
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    Jun 11th 2015, 10:19 AM

    Go up river and find where there are fish and start your search from there downstream .

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    Mute Watcher-on-the-Wall
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    Jun 11th 2015, 10:34 AM

    because fish are stationary?

    29
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    Mute Jax Maxwel
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    Jun 11th 2015, 10:42 AM

    Fish were a threat to the farmlands water supply had to be dealt with like those pesky eagles!

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    Mute Martin O' Neill
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    Jun 11th 2015, 10:42 AM

    The farmers and industrial companies don’t care! I hope they catch the idiots and prosecute them to the full letter of the law!!!

    18
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    Mute selfsustainable
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    Jun 11th 2015, 10:28 AM

    They themselves say the affluent that caused it has since passed, so all they’re using is guess work and finger pointing. Not the right thing to do at all. Pointing fingers without first having proof is not helpful.

    11
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    Mute Des Doris
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    Jun 11th 2015, 10:53 AM

    No point blaming the rich @selfsustainable!

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    Mute Maggie
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    Jun 11th 2015, 10:07 AM

    Something fishy going on

    9
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    Mute Jon Mackey
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    Jun 11th 2015, 10:29 AM

    Fcuking farmers. From birds of prey to an entire trout stock, for an occupation that’s meant to be in tune the outdoors they really are blight on it.

    118
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    Mute Avina Laaf
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    Jun 11th 2015, 10:50 AM

    Something fishy alright – they’re mackerel in the main photo so its no wonder they couldn’t survive in fresh water!
    :0)

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    Mute Mick Andrews
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    Jun 11th 2015, 11:16 AM

    skip jack tuna Avina

    17
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    Mute Justin Credible
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    Jun 11th 2015, 11:19 AM

    Jon, anybody that sets rat poison is to blame for the deaths of those eagles

    13
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    Mute Alan Corlett
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    Jun 11th 2015, 11:25 AM

    Nah Mick, I think they’re herring, there’s a little bit of a red one at the bottom

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    Mute Enjoy The Sun 2015
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    Jun 11th 2015, 12:13 PM

    I think this is really bad, especially for the environment, 5,000 fish is a lot, that could also have fed 5,000 people and that’s a waste of everything.

    7
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    Mute Dave Meagher
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    Jun 11th 2015, 11:11 AM

    Damm fishes coming over here taking our jobs and our women/men fish bowels etc., a bit like those pesky road users that keep crashing on slurry , some neck claiming.

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    Mute Kizzi Yeates
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    Jun 11th 2015, 6:36 PM

    That’s what happens when those Farmers wash there Socks lol lol

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