Eurozone woes boost Sterling, making it cheaper for Britons to buy a home and live in Spain
By Luke Trevail of TorFX
The Eurozone debt crisis, coupled with changes of government in the region, have shaken the markets throughout May, after a good April for Sterling.
The Pound has benefitted as a result, up 3.4pc in a month, and 7.5pc in 6 months, despite the UK being in a recession. The threat of the Euro weakening further is a real possibility.
The spike upwards last week provided Euro buyers with the best prices since late 2008, whilst sellers of the single currency take the pain.
Should Greece leave the Eurozone problems will still remain, as other countries like Spain may need help. The Euro will stay under pressure unless and until Eurozone authorities take action on a scale hitherto unseen.
In the meantime, British house-hunters in Spain with cash in Sterling will find themselves in an increasingly strong position.