from an England perspective anyway. So do we now switch to supporting Spain as a default second team, or maybe one of our other European neighbours ?
The way that things have gone in recent times you could be forgiven for wishing ill on places where you may have bought property, particularly given the problems in Spain.
But, we are all in the same boat to a degree, and a positive outlook to the future can be as beneficial in some ways as hard financial reality.
At the moment we are cheering the rise of the pound against the euro, which is good on 2 scores :-
Firstly, UK property owners in the eurozone have more affordability when it comes to paying their mortgages and paying for maintenance etc. And even holidaymakers have more ready cash to spend thanks to the exchange rate.
And secondly, for the Spanish there is an obvious benefit of more Brits able to spend euros in Spain. The exchange rate only affects them if they come to the UK. The flow of people and money has always largely been from UK to Spain, so the Spanish would no doubt prefer a strong pound.
Compared to other eurozone countries the exchange rate doesn't affect, for example, Germans on holiday, although relative prices between the countries do
Thanks for reading
Monday, June 28, 2010
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