interesting article about " Cracks in the Euro " in yesterdays sunday times.

It reported that like the £ the Euro is loosing favour with the worlds major financial institutions and that there are black clouds on its horizon.
Maybe its good news for the tourist and leisure markets if we eventually come out of recession but not for the property market.
Who would want to risk buying in a climate overvalued currency and property values.

It may sound short sighted........but to my mind....one step at a time. Those of us who have been hit badly by the poor performance of the pound against the euro, will welcome the weakening of the euro.
We have suffered an over 25% increase in costs whilst a reduction in real income. Squeezed from both ends.

Short sightedly, and selfishly, maybe, but I'm not particularly interested in the property market at the moment. I am however interested in seeing the Algarve, recover it's niche in the holiday market.
I would suggest that the property market would recover on the back of that??

We too would like to see an improvement in the £/Euro rate but Are not convinced that we will see any substantial improvement in the number of UK holiday makers until confidence returns to the UK economy. late 2010/2011.
It will make life less painfull for some of us when an improvement in the rate finally happens but there no sign of this at the moment.