Spain, UK, France, Germany and Italy sign tax deal

An information exchange agreement has been singed by the finance ministers of Spain, France, Germany, UK and Italy in the latest effort to crack down on tax evasion. More..

Non-resident Spanish inheritance tax

For any non-resident Spanish property owner, the article below may be of serious interest as it appears that, at the least, all EU residents will be able to take advantage of all the tax breaks that are currently available to Spanish tax residents in the cases of property inheritance. This may even have a retro-active benefit for anyone who has inherited a property since 2006.

Regards
Andrew

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Spanish banks starting to give mortgages

It appears that finally banks are starting to lend again to those looking at buying Costa del Sol properties. Although more demanding of proof of income, etc… slowly but surely the financial taps are being opened, with up to 100% offered in certain cases.

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Spain is Not Close to Bankruptcy: Amalgamation Should Not Mean Contagion

The downgrading of Spain was done for strange reasons. Spain’s has a debt to GDP of 90% (against 144% of for Greece) and a budget deficit of 7% (against Greece’s 14%). More importantly, the spread over German bunds is 250 bps against 700bps. With an AA rating (compared to Greece’s BB), even after the recent downgrading from AAA, Spanish creditworthiness is strong.

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Forex market updates

Just a quick update on the Forex reports. As this information is being updated daily, I have decided to start posting the reports on a separate blog.

That way those looking at currency exchanges can go to that blog while those looking at property related articles can stay here So for market reports go to Currency Market Reports

Regards Andrew Belles

Forex market report 01/04/09

Dollar makes gains on safe haven status
Sterling pushes upwards against the euro
Single currency under pressure against majors—ECB expected to cut rate
Commodity currencies post large gains
G20 meeting in London

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Forex market report 31/03/09

  • Euro weakens on ECB members comments & weak economic data
  • Sterling makes gains against majors on positive UK data
  • Equity markets make losses over 3% but dollar still weakens
  • US Government moves to overhaul GM, Chrysler dragging the dollar down
  • Ireland’s economy losses coveted AAA rating

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Forex market report 27/03/09

  • Sterling trades lower against the Euro
  • Survey shows people want end to the public spending boom in UK
  • The European Central Bank likely to cut interest rates next week
  • The euro remained inside its recent tight ranges against the USD
  • The “city” prepares for G20 summit next week

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Forex market report 26/03/09

  • Volatile day in currency markets blamed on Geithner comments
  • Sterling sees losses posted against both dollar and euro
  • Dollar sees huge swings on confusion of global reserve currency status
  • Euro pulls back some losses despite weak economic data from Germany
  • IMF rescues Romania with €20bn and Serbia handed €4bn.

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Forex market report 25/03/09

  • Sterling jumps higher in the foreign exchange markets
  • UK inflation data proves stronger than expected
  • US dollar recovers slightly as rally in equity markets halts
  • Euro under pressure—possible interest rate cut by ECB next month
  • Czech Republic joins East Europe’s falling dominoes

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Forex market report 24/03/09

  • US Treasury Secretary details proposals to deal with toxic assets
  • Stock markets soar as risk sentiment retracts
  • Yen and dollar sold off across the board
  • Sterling sees gain on euro and US dollar
  • New Zealand and Australian dollars continue to make gains

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Forex market report 23/03/09

  • Risk appetite sees euro remain strong against majors
  • Cable breaks back over $1.46 as the greenback is sold off
  • US plan to remove banks toxic assets from their books weighs on dollar
  • Aussie and New Zealand dollars gain as commodities rally
  • Norwegian Krone takes advantage of higher oil and risk appetite rise

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Forex market report 20/03/09

  • Sterling remains stronger against a weaker USD
  • Britain is already a long way through the recession—BoE economist
  • Germany’s economic slump gains momentum
  • Total US job claims soared to a fresh record high near 5.5 million
  • UK Public sector borrowing, higher at 9.0B

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Equity release in Spain

Now we have all adopted a healthier Mediterranean lifestyle and olive oil will ensure that we live to a ripe old age our need for income for longer is required. Many are now finding that  their pensions fall short and do not provide sufficient to cope with rising living costs and the dreams of a relaxed and comfortable retirement are sadly a distant memory. Mostly due to rising costs and the weak pound.

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Forex market report 19/03/09

  • Dollar sold of after surprise Fed move to aggressively buy Treasury’s
  • Euro hits nine week high against the dollar as risk sentiment weakens
  • Sterling rides dollar bashing wave and breaks back through $1.40
  • UK—pound hits seven week low against the euro at 1.0551
  • Norwegian Krone—is this the new safe haven currency

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