The story of our adventure in Spain

In October 2002 we purchased a holiday flat in Guardamar on Spain's Costa Blanca - not far from Alicante and Torrevieja and we try to spend a good part of the year in Spain.

This blog hopefully will contain our thoughts and impressions of Spain - the good and the bad and lots and lots of photographs of not only Guardamar but the rest of Spain as we eventually get to explore it.


Sunday, 11 December 2011

Euro crisis

A Bloomberg report of the 9/12 suggests that some European CEO's believe that Spain will exit the euro and return to the peseta.

Already firms are making plans to move money to German banks or move their headquarters to northern Europe.

What are the consequences for the holiday maker or expat residing in Spain?

If Spain was to return to the peseta and then devalue it would make the country a cheaper place to visit ( assuming Sterling retains it's worth ), expats on a pension would receive a higher income but the value of our holiday homes and residences would reduce even further.

It's all swings and roundabouts.


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