ChatterBank2 mins ago
My friends are coming back to live here after 10 yrs in Cyprus because of the Euro..do you think the Eastern Europeans will head back home now?
18 Answers
Our friends are losing money on a very hard earned pension they have paid into, will this work in reverse?
all of the Eastern Europeans who work here and send Family Allowance and tax credits back to their Motherland are, surely in the same predicament?
Bobbi
all of the Eastern Europeans who work here and send Family Allowance and tax credits back to their Motherland are, surely in the same predicament?
Bobbi
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For more on marking an answer as the "Best Answer", please visit our FAQ.There are 2 Ladies living close to me Bobbi who lived out in Cyprus for between 15-20 years and were happy there, but both have been widowed. Since Cyprus joined the Euro their Pension was not sufficient to live on due to the high cost of living and they had to sell up and move back to UK !
The grass is not always greener is it and I'm afraid there will be many more expats returning to UK because of financial difficulties.......
The grass is not always greener is it and I'm afraid there will be many more expats returning to UK because of financial difficulties.......
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I think that a fair number who came wanted to earn some money and learn some useful skills, and never intended to stay permanently. Many will be going back. That is not to say more will not come with the same aim....to better themselves,and help their own.
Enough Brits have gone overseas-not to retire,but for a better life...their own business,whatever...no one gets on their cases.
Enough Brits have gone overseas-not to retire,but for a better life...their own business,whatever...no one gets on their cases.
I don't know what it's like now Bobbi but some years ago a friend of mine whose father in law was Polish took his family to meet their polish relations, at that time the currency was I think the zloty which they were not allowed to bring out of the country, so at the end of the holiday they poolled all the left over zloties and bought their host a load of bits and pieces to help round the house, Brians cousin told him before they left that the things they'd bought would have taken them months to save up for, yet as Brian said, the total was less then a weeks wages for him. So unless things have changed drastically any amount they sent by relatives in the UK will be a bonus
like paddy, Im unsure if poland now has a good economy.
Many years ago my hubby met 3 polish men in a pub, he sat and chatted to them and found that they were very intelligent men, training as doctors in Poland but having to work the land here to raise the funds. They were sharing 1 pint of beer to save money,
My in-laws were also from Polish family, many have lived here since the war but and old aunt came to visit them in norfolk. She actually broke down in tears in the towns tiny supermarket (an old 70s co-op) as she had never seen food so readily available.
Many years ago my hubby met 3 polish men in a pub, he sat and chatted to them and found that they were very intelligent men, training as doctors in Poland but having to work the land here to raise the funds. They were sharing 1 pint of beer to save money,
My in-laws were also from Polish family, many have lived here since the war but and old aunt came to visit them in norfolk. She actually broke down in tears in the towns tiny supermarket (an old 70s co-op) as she had never seen food so readily available.
bobbi...they are coming home at the wrong time.
For the past 2 years the pound has been weak against the Euro, hence if your pensions are paid in UK sterling, then your pensions have been reduced by about one third.
BUT, now the Euro has fallen and your pensions are recovery nicely...so why come back to the UK when the £/€ is in your favour? Can't understand them.
Now how are they going to sell their property in Cyprus....it being a buyers market, they will get a poor deal.......AND they will be paid for selling their house in €'s, which is falling against the £?
I have obviously missed something.
For the past 2 years the pound has been weak against the Euro, hence if your pensions are paid in UK sterling, then your pensions have been reduced by about one third.
BUT, now the Euro has fallen and your pensions are recovery nicely...so why come back to the UK when the £/€ is in your favour? Can't understand them.
Now how are they going to sell their property in Cyprus....it being a buyers market, they will get a poor deal.......AND they will be paid for selling their house in €'s, which is falling against the £?
I have obviously missed something.
He's a retired Financial Director of a large Engineering company sqad, and he was telling us his pension was taking a nose dive, yes, they are selling up, and indeed have sold their large villa within a couple of days of putting it up.
He reckons Cyprus is following Greece with the unemployment ect
Joy
He reckons Cyprus is following Greece with the unemployment ect
Joy
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