| The Comments |
Housing surveyor, Energy advisor for domestic, commercial and public buildings and now an expert on FX trading as well. Wow I guess we should all just ignore the markets based on that analysis.
Micky, every Brexit MP has admitted that at least in the short term the UK will economically suffer. What is short term. In FOREX lingo that means anything up to two years. Medium term is defined as three to ten years and over that is long term.
The key point is that, "at least in the near term". But of course it could be medium term, long term, or permanent.
FX Traders are simply reacting to the view that inward flows of Foreign Currency will decline making the pound less desirable. The pound will continue to be sold off until it reaches what market makers see as its post Brexit floor. Many have stated that level but it is hard to say whether they are genuine or just talking their own book.
The opening post on this thread lead with the point that the pound would feel a 20% decline in value. That is where we are headed and Brexiters need to face up to it, whether good or bad.
1
Like
|
Yes I agree selling Sterling is likely to continue until the economy proves it can withstand the exit from the single market. It seems the UK is now facing a certain 'hard brexit' with all that will bring. Restricted immigration will apply to the British abroad also unless the EU can fast tract European Citizenship.
I have warned many people living in Europe who are not registered fiscally they face a very difficult and changed circumstance in future. Spain has tolerated Brits living illegally for years. Rajoy has already stated they face a difficult time.
Retired expats living leagally in Europe on a Sterling income are also facing uncertainty over their incomes, healthcare rights, citizen rights, EHIC loss and pension increases which seem not to matter a jot in the current power play politics.
_______________________
Time is the school in which we learn
Time is the fire in which we burn.
Delmore Schwartz.
0
Like
|
mickyfinn
Spain has tolerated Brits living illegally for years.
You have to ask yourself why this has been tolerated for so long. Action is long overdue and it can't be that difficult
_______________________
“The greatest enemy of knowledge is not ignorance; it is the illusion of knowledge”
0
Like
|
If leaving the EU is going to be so good for the British economy why do the financial markets trash Sterling everytime Teresa May opens her mouth and suggests hard Brexit
Despite again having covered this ground before, and the reasoned answer by Briando, have you considered, Micky, that the majority of the traders live in the few locations around the metropolis that voted heavily to remain? Perhaps they have screwed up and thier bonuses will suffer? If so I don't feel sorry for them.
There are of course (and as pointed out before) many ways of interpreting currency figures and I would note that the slide established between November 2015 and June last year seems to have stopped and the GPB seems to be sitting around 1.10
If it remains around that level we should be glad the capital easing (printing money) by the last chancelor has not done more damage (sooner or later it will come out as inflation). You might also note the the GBP has slid more against the Dollar. This and the fact the the E central bank has also done a little easing confirms that there is more to these figures than the remoaners would have us believe.
This message was last edited by tteedd on 16/01/2017.
2
Like
|
A sensitive question that follows from Tadd's observation and given the following...
“If you move to Spain permanently for six months or more you will almost certainly become tax resident and be obliged to pay income, capital gains, and wealth taxes on your worldwide assets and be subject to Spanish inheritance and gifts tax rules.”
So Brexit appears to be compelling people who were living “illegally” in Spain to clean up their act ( financially), is this correct?
Is this perceived as a positive knock-on effect from Brexit for Spain?
Also with regard to reciprocal protection of rights I thought it was the EU bureaucrats who were unwilling to provide reassurances?
1
Like
|
Think yourselves lucky that with the exception of the illegal airport taxi runs, Spanish taxis are generally driven by legally qualified Spanish drivers with good area knowledge. Getting into a black or mini cab in the UK you are more often than not confronted by an Asian driver with very little English and zero knowledge of your intended destination, OK I know that they have to display a photo of the licenced driver, but one dark skinned guy with a little white cap and a bushy beard looks very similar to another.
_______________________
IF YOU WISH TO QUOTE ANY OF MY POSTS PLEASE DO SO IN THEIR ENTIRETY AND NOT JUST A FEW SELECTED WORDS TOTALLY OUT OF CONTEXT.
THANK YOU.
0
Like
|
You become fiscally obliged to register in Spain after 90 days not six months. Mariano Rajoy has said publically that British people living in Spain after Brexit will face 'difficulties'. He did not elaborate but I took that to mean a crack down on illegal residency.
You might say that's a positive of Brexit for people who do comply with the law. I can see places along the coast becoming ghost towns out of season as Brits return home to burden the NHS and state housing lists even further.
This message was last edited by Mickyfinn on 16/01/2017.
_______________________
Time is the school in which we learn
Time is the fire in which we burn.
Delmore Schwartz.
0
Like
|
as Brits return home to burden the NHS
Should not burden the NHS much more, as they are probably the ones who return to the UK for treatment and to renew their benefit claims anyway. They will not have the cost of flights to whinge about but will lose their tax free income.
3
Like
|
The EHIC used by British people in Spain for healthcare is a subject for the negotiations over Brexit. If that is abolished it will change life for many people. Private travel insurance premiums will rise making trips abroad more expensive aong with Sterling at likely parity very soon.
That Spanish holiday home is looking more of a financial burden. Florida may be the future.
_______________________
Time is the school in which we learn
Time is the fire in which we burn.
Delmore Schwartz.
0
Like
|
mickyfinn
you become fiscally obligated to register in Spain on day 1 if it is your intenton to reside permanently - there is no grace period if you like
The recriprocal healthcare agreement is between Spain and the UK and as said before although it is pre requisite for EU membership after brexit the 2 govt's will have to decide to either negotiate a new agreement or leave the current one in place not the EU
_______________________
“The greatest enemy of knowledge is not ignorance; it is the illusion of knowledge”
2
Like
|
Tadd,
I thought the EU bureaucrats stated that no individual agreements/ negotiations would be allowed between member states, and that all negotiations had to go through the Commission's representative?
Hence the EU are very much involved since it is the Commission who are digging their heels in re no reform/changes/new factoring to freedom of movement rules i.e.no movement on movement ;)
This message was last edited by ads on 16/01/2017.
0
Like
|
Ttedd,
Is the inference that you were making re benefits, that there are many expats in Spain currently exploiting the UK benefit system? If so what form of benefits would they be exploiting? Or perhaps you meant that if they decide to take up Spanish residency they will no longer be entitled to UK benefits? Perhaps you could clarify?
0
Like
|
|
Ads
I thought the EU bureaucrats stated that no individual agreements/ negotiations would be allowed between member states, and that all negotiations had to go through the Commission's representative?
There are many agreements that are made between individual countries and not through the EU. For example, the dual taxation treaty is between the UK and Spain, not the UK and the EU. There was a bilateral healthcare agreement between UK and Spain before Spain joined the EU just like it has with Barbados and other countries. I think the EU changed this to become an EU wide agreement.
The individual agreements you refer to cover trade, so i believe. Other agreements can easily be retained.
0
Like
|
ads,
Not everyone lives in London.
😐
_______________________
IF YOU WISH TO QUOTE ANY OF MY POSTS PLEASE DO SO IN THEIR ENTIRETY AND NOT JUST A FEW SELECTED WORDS TOTALLY OUT OF CONTEXT.
THANK YOU.
0
Like
|
|
Ads
I know you asked tteed the question but I know a few families living in spain illegally claiming uk benefits including child benefit tax credits job seekers social etc. One has his brother signing on for him in the uk and has been for years
Bobaol
Good answer saved me a post
_______________________
“The greatest enemy of knowledge is not ignorance; it is the illusion of knowledge”
1
Like
|
"Tusk’s refusal to countenance any discussion about a so-called “reciprocal rights” deal for expatriates places him firmly in line with the Commission, and with Angela Merkel. The German Chancellor rebuffed a request from Mayfor assurances when the two met in Berlin earlier this month. Officials in Berlin and Brussels are determined that the U.K. will have no free passes on any aspect of its negotiation with the EU ahead of formal discussions."
Sad to say, it's the EU that are playing games with citizen's rights.
This message was last edited by ads on 16/01/2017.
This message was last edited by ads on 16/01/2017.
2
Like
|
Those British expats acting in this illegal fashion appear to be doing harm to both Spain and the UK..... But the irony is that many of them are presumably wanting Brexit to fail so they can continue with this scam.
Any system that perpetuates and turns blind eyes to this nonsense, that fails to protect innocent citizens each side of the channel from all manner of abuses, that fails to listen to genuine citizens concerns, whether in Greece, or Italy, or Spain or the UK, etc, that fails to recognise major imbalances and ignores stability mechanisms begs all too many questions. And yet more irony when it is the country that has been constantly calling for reform that is the one being scapegoated and derided in this way.
This message was last edited by ads on 16/01/2017.
2
Like
|
Mickey, you do manage to cone up with some nonsense from time to time.
The EHIC used by British people in Spain for healthcare is a subject for the negotiations over Brexit. If that is abolished it will change life for many people. Private travel insurance premiums will rise making trips abroad more expensive aong with Sterling at likely parity very soon.
That Spanish holiday home is looking more of a financial burden. Florida may be the future.
.......................
if your EHIC card is asked for in Spain, and believe me it is most of the time, even 112 would not take me to hospital without taking note of it, then the UK will be charged for any emergency treatment you receive but not a lot of follow up up unless serious.
EHIC alone has never been suffucient for all eventualities which is why Private Healthcare orcTravel Insurance are a must.
If we choose to visit overseas countries surely jtbopis our responsibility to make sure we are properly covered in any situation, NOT rely on someone else to take care of us.
Finally, have you seen the cost of Travel Insurance to include Florida and the USA compared to Europe only cover, stop spouting rubbish.
3
Like
|