Recession- Eat your words Gordon
Gordon Brown said that Britain would be the first to come out of recession. WRONG!!! Germany are well on their way to recovery, but Britain are floundering about , aimlessly drifting towards next year’s general election. The “tory ” press are demanding he go now, suggesting he is stubbornly hanging on for the sake of it. There seems to be a groundswell of opinion that says “this man was not elected, is doing a bad job and has past caring about Britain”. He will also upset his own party now with comments about the “middle class in Britain, being squeezed” . He plans to give them more help, an obvious popularity seeking move designed to try and mitigate next year’s landslide Tory victory.
You have to admire David Cameron for wanting the job, which is going to be the hottest potato in decades.
As usual the FTSE 100 index is pressing onwards and upwards, although the pound is still floundering
Euro exchnage rate falling fast
Bad , gloomy financial forecasts in the UK have seen the exchange rate plummet back to 1.10 from its heady height of 1.18 a few weeks ago. With inflation under control at 1.80% , well below the government target for convergence, I think that this is the time, when the UK should take the plunge and get in the Eurozone. There maybe some upward price adjustments initially, however the UK would benefit from the early exit from recession that France and Germany are seeing. It would also make life much easier from a budgeting point of view for pensioners in Spain.
The current level of the euro/£ will reduce the upward pressure on property prices in Spain, and still presents a great opportunity for people seeking investment or retirement homes.
