Good news for American visitors to Europe; bad news for those of us who get paid in pounds:  The British Sterling Pound has collapsed to its lowest level in five years against world currencies over news that the UK is now officially in a recession.  As of today, £1 is equal to $1.55 USD -- down from a high of $2.05 in July! And 1 Euro is now equal to $1.26, down from $1.60 last summer.  For Americans, it's never been a better time to visit Europe. You'll get more bang for your buck.  But for those us accustomed to traveling to the US for "half-price" shopping, those days are over, for now.  Start planning your trip now!

Sample of what things cost in London now:

Pint of beer: £2.50  ($3.87 USD...down from $5.12 in July!)
Note: A British imperial pint of beer is 20 U.S. ounces, compared to only 16 ounces for an American pint

Liter of gasoline/petrol: £.97 ($1.50, or about $5.67 a gallon)

Movie ticket: £9.90 ($15)

Dinner for two at moderate restaurant and one drink each: £20 ($30.99)

Underground/Tube one-way ticket: £1.50 ($2.32)

Bus fare: £.90 ($1.39)