Paphos People

Hi PP


Looks like things are going to get even tougher for the ex pats living on £ related pensions as the £ looks like its will be taking another hammering in the ongoing weeks

http://www.bbc.co.uk/news/business-38555673

She is not particularly bothered as on the UK plus side it attracts investment, boosts exports and UK tourism and makes foreign holidays less attractive to UK residents and so boosts UK tourist income even further

Biggest loss again are pensioners who have also seen 10 years of pathetic returns from the bank following the financial crash

Winners again are UK property moguls and people with a mortgage with pathetic interest rates


This issue at the moment does not directly effect me ( although effects many, many friend of mine in CY ) as I am not in receipt of pensions and in fairness am sheltered for a while from the currency drop. Fortunately I transferred a good lump of money to my BOC € account 18 months ago when we had the giddy heights of € 1.41 to £ 1



What intrigues me is are people forgotten when things like this happen, there must be millions of UK pensioners living in Spain, Cyprus France and the rest of Europe


Who is there for you guys to represent you or speak up for you and try and get you some recompense. The majority have been UK taxpayers all theirs lives. I for one am appalled

Feels to me that you guys have been threw under the bus

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"With enough thought & effort, anything is possible"

"Feels to me that you guys have been threw under the bus"

Mirek, many of the members of this forum voted to leave the EU, so only have themselves to blame for the falling £. They were warned! But they are taking it on the chin for the sake of their children and their grandchildren.

There are always going to be people who benefit from a situation and those who don't. No matter how well an economy does, you will always find people who are worse off. Doesn't make it right, or easier for those suffering I know. But, how do you know she's not particularly bothered? Supposing the £ was strong and interest rates were high, would you be bemoaning the fate of those with mortgages instead? Which brings me back to my original point, there will always be people worse off.

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And the Oscar goes to........

Obviously this does not effect yourself, and in fairness does not effect me. Yes I do understand in this world that for are winners or losers

IMHO a decent majority of PP on here will be effected by this and will be losers ( again if the poor rate of return on savings for the last 10 years is taken into account )

I was wondering if once you become an ex-pat and done your service to the UK economy there was some form of representation who lobbied the Government on their behalf or simply thrown under the bus and 50 years of Tax and NIC mean nothing...thats all

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"With enough thought & effort, anything is possible"

I voted to leave also

Still does not make it right that a tranche of hard working people who have worked all of their lives paying Tax and NIC and contributing to the UK economy should suffer

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"With enough thought & effort, anything is possible"

Swings and roundabouts.
If Mrs May did not care she would not have stood up and been counted when the existing PM threw in the towel and quit after assuring the electoreate that whatever the result of the referendum he would be there for long haul. HA, so much for his word then.
In war it is the suppliers of weapons and fuel who make a fortune while the people involved are the ones to suffer.
When interest rates are low those with mortgages jump for joy but those who have saved for their retirement see no return on those savings.
The opposite occurs the other way round.
Nobody will ever be lucky all the time and we learn to take the rough with the smooth.

Perfect analysis !

Good post Bev!
Also we all chose to live here and most of us knew that we would always be subject to fluctuating exchange rates that would affect us all.
In the 10 years we have lived here we have seen many changes, remember when the pound and Euro was almost 1 - 1, lived through the financial crisis here when Banks were closed and Pensions refused to send our pensions over until there was more stability, lost our WFA but life goes on. We cannot really expect anyone to fight for us so it is stay here and accept or return. The choice is there for all of us.

Remember, amongst the ups & downs affecting our situation on Cyprus, the weather (admittedly with the exception of the last few weeks) generally remains much more favourable than the usual 'two weeks of summer' & 50 weeks of grey overcast endured in the UK.

If you have arthritus, this is a major plus!

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I'll be back!

Considering she had six years as Home Secretary to address the Immigration problem and was an abject failure it appears many are easily pleased. If she worked in the Private Sector she would have been run off years ago but many seem very happy to have someone who has proved she is totally incompetent now running the country. Over 50% of Immigrants are from outside the EU so Freedom of Movement isn't really an argument.

Jim