Exchange Rates affecting your move??
Nov 6th 2011 | 9:42 pm
#1
Thread Starter
Forum Regular
Joined: Sep 2011
Posts: 220
Exchange Rates affecting your move??
The start of November has been dominated by the crises in Greece.
The on-off-on-off Greek referendum finally cost George Papandreou his job as a new coalition to govern Greece was formed over the weekend. Although a new Prime Minister has not yet been confirmed a deal has been agreed with the opposition in order to push through the international bailout.
The controversial move by Papandreou to initial seek a referendum pushed markets into a panic as the international bailout asks Greece to implement further austerity measures to bring its debt levels under control. The Greek people would almost certainly have voted against this leaving the international community fuming. Now the referendum is off and we await news of who will now lead Greece.
Europe’s interest rate cut has helped Sterling advance. The ECB cut rates from 1.5% to 1.25%
The Pound has gained on the back of the Euro’s weakness moving from €1.1323 to €1.1677. Now the Pound has reached this level it may be susceptible to some pressure as 50% of the UK’s exports are to Europe.
Is anyone holding off moving to Spain because of the Euro crisis?
Anybody watching the rates and have any comments or questions?????
The on-off-on-off Greek referendum finally cost George Papandreou his job as a new coalition to govern Greece was formed over the weekend. Although a new Prime Minister has not yet been confirmed a deal has been agreed with the opposition in order to push through the international bailout.
The controversial move by Papandreou to initial seek a referendum pushed markets into a panic as the international bailout asks Greece to implement further austerity measures to bring its debt levels under control. The Greek people would almost certainly have voted against this leaving the international community fuming. Now the referendum is off and we await news of who will now lead Greece.
Europe’s interest rate cut has helped Sterling advance. The ECB cut rates from 1.5% to 1.25%
The Pound has gained on the back of the Euro’s weakness moving from €1.1323 to €1.1677. Now the Pound has reached this level it may be susceptible to some pressure as 50% of the UK’s exports are to Europe.
Is anyone holding off moving to Spain because of the Euro crisis?
Anybody watching the rates and have any comments or questions?????
Nov 8th 2011 | 12:08 am
#2
Forum Regular
Joined: Sep 2011
Posts: 153
From: England and Gran Canaria mostly
Re: Exchange Rates affecting your move??
If you can afford to live a comfortable life in the UK then you should be able to do the same in Spain as prices across the board are much to same?
Nov 8th 2011 | 2:50 am
#3
Forum Regular
Joined: Jun 2010
Posts: 81
Re: Exchange Rates affecting your move??
All the current solutions to the Euro crisis are short lived in my view. Greece is still spending more than it earn's, Italy has to refinance 300bn early 2012 and it's looking likely Portugal may have to have another cash injection (where from?) in 2012.
The Crisis hasn't really began....! Hard hats on for next year :thumb up:
The Crisis hasn't really began....! Hard hats on for next year :thumb up:
