02 Jul 2012 10:58 AM:

Let's face it we all know that all the measures taken to date to resolve all the Euro issues, be it the banking aspect or the overall economic problems, they're only treating the symptons and not resolving the basic problems at the root of it all.  It's like treating pneumonia with Beechams powders.  All we can do is sit back and watch until the first country is declared bankrupt and some bright politician says "Well, I never thought that would happen"!!

Thread: Mortgages and return to the peseta

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30 Jun 2012 10:12 AM:

Hi All, All points taken and could be debated  into infinity; However, noone has said what will happen to the pound, everyone's assumed it will stay level being out of the eurozone but as Europe is it's largest export market at present it coulld be hit with some pretty heavy fallout. The other aspect unmentioned until now is that if Spain reverted to the Peseta and devalued at the same time there's no doubt in my mind that interest rates would have to increase to help with the Spanish recovery. A weaker pound coupled with higher interest rates would not be good news for all the Brits with sterling income and a spanish mortgage. As always it looks like us poor mortals can only sit back and hope that there is an intelligent politician (I'm sorry that's a contradiction in terms!!) out there who can resolve this issue. Or more likely we could all be beamed up by aliens!! We watch and wait. Regards

 

Thread: Mortgages and return to the peseta

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21 May 2012 11:01 AM:

Hi, I retired to Spain when I was 63 and not yet pension age, however, as I'd been working in the UK until then I was able to get a form E106 (now part of the S1 system) from the dept of Works and Pensions. If you have been paying into the UK national health service for the previous 3 years you are able to obtain up to 30months medical cover in a reciprocal arrangement with the Spanish Social Service; In my case my E106 was only fot 19 months as I didn't have a full 3 years because I retired here in the Sept meaning I could only claim for April to Sept in year 3, but it enabled me to register with my local doctor with my wife as my dependant until I reached 65 whe Iwas then able to continue as a pensioner. I bought a book in the UK titled "Retiring to Spain" by Guy Hobbs and this has been my bible as it includes all the UK phone nos. you'll need once retired. I hope that this is of some help to you all. Regards, Duncan 

Thread: The future for ex pats

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07 Apr 2012 10:41 AM:

Hi, I've always advocated a single currency for each currency is the best way to control any economy as it allows the country the option to de/revalue as necessary or adjust interest rates to help their own individual economies, thus getting them out of the brown sticky stuff when necessary. To work with a single currency such as the euro requires all the countries to be at a similar economic level or never-ending support  without limit from the stronger countries. With a weak global economy as at present there are more weak countries than there are strong. Having said all this with the current levels of debt in the weaker countries is it too late to revert to individual currencies without a lot of support from the stronger countries, possibly by way of loan guarantees etc.. 

There are a lot of things to be considered before a decision could be made before Spain could revert to the peseta.

The question is would the individual countries be capable of digging their way out of their current economic situation if they go it alone? I think the measures that would be necessary to do this could create more unemployment, spending cuts etc. than people would be prepared to accept.

Regards, Duncan

Thread: If Spain did reintroduce the peseta...

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23 Dec 2011 7:52 PM:

I don't think it's if I think it's when! Though I appreciate what you're saying I don't think that the Euro can survive the current onslaught. I also understand what you're saying but only the strong currencies will come through unscathed, Germany yes, France is not so strong as it makes out, and where do we go from there, Hungary currently has a credit rating of JUNK. This is a very deep subject, Germany will only keep throwing money at the Euro for so long before it decides it's better as a single currency and what happens then?? The sad thing is we''ve had 2 world wars that Germany has lost but they're getting their own back with the economy. If the Euro is going to collapse, isn't it better sooner rather than later??

Thread: Euro VS Sterling

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