Where is the euro headed now?

One of the things to hit British expats living throughout Europe over the last few years has been the euro exchange rate with the pound.

When the euro was first introduced back in 2002 one pound was worth around €1.60 and even until mid-2007 it was in the region of €1.47. However, 2007 saw the euro strengthen against sterling until the pound and euro almost reached parity.

That all meant that anyone being paid in pounds but living in Spain had a lot less to live on, notably the many pensioners living in Spain and else where.

During 2012 in particular we heard much about Spain leaving the euro or even the collapse of the euro completely.

So where are we now?

According to an article published by Iberosphere the danger to the euro is over but the recent gains by the euro in January, once again eroding the spending power of many British expats, may have further to go.

Read the full article on Iberosphere

Tags: Currency, socialmedia