Friday, May 7, 2010

Well Hung

So, as of now, we don't know who is going to be PM, or indeed the main party in charge of running the country.

Sterling is down 3 cents against the euro and the markets react strongly to the idea that nobody will be able to agree with each other on the best way to move forward and handle the deficit.

Something needs to be agreed asap so that we can start to implement some measures to sort out the economy. Given the uncertainty happening in Greece and the Eurozone, we could benefit greatly from decisive action.

The cost of Greek and Portuguese debt continues to rise, so it looks increasingly likely that Portugal is going to require some form of bail out

For overseas mortgage holders, the continued weakness of the pound, is of concern, and it must be said that the state of the economies in these countries will undoubtedly have an impact on the owners of holiday properties there.

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