Whilst the Eurozone crisis may have cast doom and gloom over countries like Spain and Italy it has brought some relief to those of us on UK pensions. At the end of 2009 going into 2010, the pound weakened against the euro and we were getting 1 euro the the pound in exchange. That was a big drop from the 1.5 euros that we had been used to when we first came here. You don’t need to be a mathematics expert to figure out we had lost one third of our spending power.
Now, the tables have been turned a little and we are getting 1.27 euros to the pound which is just as well considering the recent hikes in IBA that we will have to pay for our shopping.