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View Full Version : Relocation Falling value of is hurting ex pats living in Europe



garlicbread
27-02-2013, 12:04
The value of the pound against the Euro has fallen 7% since the start of the year, doesn't sound a lot but it is hurting both holiday makers and ex pats whose income is sterling based.

I don't usually read the comic that is the Daily Mail but this story in the online edition caught my eye.

http://www.dailymail.co.uk/money/holidays/article-2284954/The-1billion-cost-plunging-pound.html

would be interested in hearing from fellow Brits on the subject

mike in chayofa
27-02-2013, 15:51
The value of the pound against the Euro has fallen 7% since the start of the year, doesn't sound a lot but it is hurting both holiday makers and ex pats whose income is sterling based.

... and that isn't all!!!

I have investments in GBP's and euros in the UK, in Spain and also various off-shore locations.

TSB Gibralter sent me a letter yesterday. When I originall opened the account, I was receiving almost 5% interest. It is now running at 2.42% and they have announced that this rate will fall to 1.31% from 1st May 2013 and then to 0.5% from 1st May 2014.

I have never know a bank 'predict' so far into the future.

I am sitting here contemplating what to do. On the face of it, now is the time to buy GBP's and wait for the pound to pick up ... but will that ever happen? I can't see it, the UK has let most of it's manufacturing sources be bought out and moved elsewhere in the world, and it is turning raw materials and producing goods that people want to buy that actuallt balances an economy and produces wealth.

Anyone got a crystal ball that I can rent?