Whats the effects in Laymans terms for Holiday Home owners if it all goes Pete Tong?

I know from various threads there are a great deal of people on here that will understand all the financial permutations and what it will mean to both resident and non resident property owners in Spain

I read about Spain defaulting on its loans and increasing debt, high unemployment etc but what does it mean in Laymans terms,

I know the first answer will be that nothing will change if you dont want to sell but what if at some point we do or had to?   I also know there are seemingly many permutations and things that could effect outcomes but in essence if Spain and the P.I.G.S go bust what would happen or it mean?

We have two places; one a 2 bed flat in the UK worth approx £180K and a 3 bed apartment in Spain worth €200K so almost identical. What if things go wrong could the effect be on them in say 1 or 5 years?

Should we be keeping our Euro account as small as possible to pay the standing orders if the euro collasped? or will that not be allowed to happen?

Im not after legal or financial advice as I said just wondered what, people who have worked out in their own minds, could be the likely effects on us all as i cant get my head around the various views.

It is an interesting question.

if some countries reverted to previous currencies by leaving the eurozone for whatever reason, I suppose the remaining countries lead by Germany would keep the euro, which would immediately strengthen having got rid of the "dead wood".

what would happen to the national banks of those countries reverting and their mortgages?

would they be fixed somehow to the "new" currency?

or would anyone be saddled with a euro mortgage to be paid in the "new" boosted euros??????

who knows?

Regards

Norman