Re: Ex Pat what could happen on EU exit
Hi
The chart is here
http://www.xe.com/currencycharts/?fr...to=EUR&view=1Y
Not good reading, as the £ falls the cost of borrowing on the International Markets rises.
We need to borrow £70 Billion this year alone, so either Tax Rises or yet more austerity.
When we leave, some of the money markets are looking at parity, £1 to 1 Euro, which will cost us a mint in increased Interest Payments.
The £ will of course rise again after Brexit in the longer term, but the longer term they are talking about is a minimum of 5 years.
I have no real idea what will happen, all I am sure of is that it is out of our hands, it will be decided abroad by those who lend us money.