I must admit we never do, if we go for a couple of weeks, I can't be bothered to shop around to possibly get an extra £5 or £10. I doubt the huge majority that are holidaying for a few weeks ever check the exchange rate before going, they'll probably use the most convenient.

Actually various car companies are investing in Spain, like Ford, Renault and Volkswagen. So they see renewed growth soon enough in Europe..

"Volkswagen joins other carmakers in new Spain investments".
http://uk.reuters.com/article/2013/0...90M0YX20130123

You can always go for income drawdown rather than an annuity.
When I was 50 I was going to retire at 55, now it looks more like 63!
For those not in final salary schemes the amount you need to fund a decent pension is staggering. A £500k fund at 65 will only get you around £30k a year.If you take out your cash lump sum that decreases proportionately.
It does raise the question of how much you need when you retire. Not being an expat, so with 2 homes to run etc., how much you need soon adds up.

I'm on a drawdown from my SIPP. I've just had the compulsory 3 year review done and although the fund is keeping pace with the drawdowns, the reviewed maximum drawdown has reduced by around 40% due to the deterioration of annuity rates. It makes income planning challenging to say the least.

As a tourist I never bother about the rate, it only matters if you are changing about 2 or 3 thousand per month. Don't think it will hit Spain's tourist trade but according to this the green shoots have withered.

http://blogs.telegraph.co.uk/finance...-be-necessary/

bet the commissions and bonuses don't go down by 40%

if they did then perhaps someone would do something about it as the value of stocks and shares may be jumping up and down but it has never been a smooth piece of water but despite the Lehmans debacle over the years things have stayed relatively smooth.

`

The House always wins.

Back in October we were looking forward to this year and the continued rise in the rate of sterling, we were going to pay off the euro mortage.


Today its going to be easier to bank the cash and wait and see

What has Cameron and the raving loony/tory party done? They have managed to oversee a drop in the rate from a nice 1.28 to 1.16 today. That means our mortage will cost us another 19.000€ to pay off Thanks for nothing!

Look on the bright side. Those selling up and coming home benefit.
There are always winners and losers.

But according to the doom and gloom brigade, everybody here is trapped in unsaleable houses, so there will be precious few winners!

It was 1.15 when they came into power. It only went to 1.28 for a short time and that was entirely due to the mess the Euro was in at the time.

An "expert" on radio Surrey today reckons sterling will fall to around 1.09. I am not sure, nothings improved in the eurozone, they just kicked the can again. We shall see, the UK needs a low pound right now, the Government will be pleased!

UK imports more than they export, not good for inflation, 4p a litre on the price of fuel 3p they say is because of the falling pound, lose our aaa rating could that mean interest rates may have to increase?

Stock market rises, because the companies are doing well, making lots of money or has the stock market become a home for all that printed money to use for gambling and price speculation?

All fun and games.

I have been there and done that and paid my euro mortgage off last year when it got to a rate that allowed me to do so with the amount of pounds I had set aside, it cost me around £7000 more than I had planned when I bought! Had I waited as you say until it got up in the mid 1.20's I could have saved a fair bit of that. However I also remember when I was paying the mortgage and had a monthly exchange which by bad luck transferred on the day the £ hit it's lowest and I got 98 cents per £! I preferred to pay it of when it reached a rate that I knew I could cope with and sleep at night. I know it's hindsight but when it got into the 1.20's why didn't you fix a forward rate? very difficult to be lucky enough to hit it bang on the high point and as they say once it's gone it's gone. If memory serves me right labour were at the helm when the pound it's lowest?

Yes you are right of course but although when he was in opposition Osborne said "a weak pound shows a weak government" I would put money on him rubbing his hands currently. Hasn't the new man coming into the BOE muted allowing inflation to go up ?