End of Year Decisions

[clifp]

Now that is quite a decision to be facing if you are living in Spain and Portugal, when the UK Foreign Office are using comparisons to "Lebanon in 2006" in their statements.

Is it just me or is this a holy crap article? Now I am not familiar with the degrees of yellow journalism in the British Press, Is the Telegraph a Newscorp tabloid or respectable paper?

What the hell does the Foreign Office know that rest of us don't

 

[Alan]

Is it just me or is this a holy crap article? Now I am not familiar with the degrees of yellow journalism in the British Press, Is the Telegraph a Newscorp tabloid or respectable paper?

What the hell does the Foreign Office know that rest of us don't

The Telegraph is quality newspaper and I don't doubt the article. The Sunday Times, Daily Mail and Bloomberg all report the same thing.

A week or so ago the governor of the bank of England told the UK banking sector to draw up plans for the collapse of the Euro, so I guess this is just another preparatory step.

U.K. Considering Plans for Spain, Portugal Expats, Times Says - Bloomberg



This a BBC report about the collapse of the euro warning

 

[W2R]

That article is pretty scary, TxTrader.

I usually rebalance for the year during the first week in January and still intend to follow my plan.

However, if the Euro collapses and volatility increases to the extreme in international markets from day to day during the first week in January, maybe I should spread this process out through January and February.

I am not sure if I am just being "chicken" or not, though. If I am tempted to spread out my rebalancing, I'll think about that, read over on the Bogleheads' board, breathe deeply, etc.

 

[txtrader]

Yes, W2R, it is scary, If I recall correctly the UK did not go along with the last deal the Euro countries made, can't remember the details.
Just might this action have something to do with that? Who knows.

 

[Alan]

Yes, W2R, it is scary, If I recall correctly the UK did not go along with the last deal the Euro countries made, can't remember the details.
Just might this action have something to do with that? Who knows.

It's one thing to be prepared and another for something to happen. I don't see a difference in being prepared for a collapse of the euro and some banking systems, than being prepared for a nuclear attack, an outbreak of bird flu, or other catastrophe. I'm sure that since the 2008 near banking collapse in the USA they have to consider similar events in smaller countries like Spain and Portugal where 10,0000+ expats live.

It does make one realize that while living in another country, there could be a situation where you can't access the money you need to pay the bills.