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It's all Greek to me

Amid news of the phone-hacking scandal, you may have heard something about the state of Greece and how it is threatening to blow a hole in the Eurozone. And while a bodged agreement has to extent been reached to resolve the situation, it's still my no means stable. While Britain isn't in the Euro, it sure would suffer if the the ailing currency were to go under, so the message is - this affects us all.

You may think that with the euro in trouble it's a good time to get my trunks out and go on holiday. But it's not as simple as this. David Swann of Travelex says: "Brits heading off on summer holidays this weekend will benefit from a few extra euros in their pocket compared with a few months ago. However, the pound is still down 4 percent compared with this time last year. Compared with the summer of 2007, before the credit crunch hit, Britons will be around 24 percent worse off – a loss of €177 for every £500.'

But if you have any money invested in Irish or Spanish banks, the two countries whose debt puts them on the shakiest ground economically, your savings will be protected by Britain's Financial Services Compensation Scheme, which guarantees that th first £85,000 per person with any bank is protected, and furthermore guaranteed by the British Government.

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