Norges Bank has recently introduced the new series of Norwegian banknotes, which display a rather unusual design.
Traditionally, as is the case in most countries, Norway's banknotes have always been adorned with portraits of the country's important historical figures. But this new series of currency has done away with tradition and instead features images with one theme tying them together: the sea.
The process of Brexit is a complicated business. It's been a year since Britons voted to leave the European Union. But how has Britain's controversial decision and its handling of the situation thus far affected other EU countries' views of the Brussels-based Union? Has the uncertainty faced by the British Government convinced others to stay put, or do they wish to follow suit and have a Frexit, Spexit, Grexit, etc.?
A recent poll by Pew Research Centre gathered opinions from almost 10,000 people from 10 European countries including France, the Netherlands, Spain, Germany, Poland, Sweden, Italy, Greece, Hungary and UK. The purpose of the survey was to find out the attitudes towards Brexit and the EU from across Europe. It questioned respondents on topics such as would they want a referendum of their own and whether they think Brexit is positive or negative for Britain and other member countries.
British people make up one of the highest percentages of expats in the world, it is estimated by the World Bank that between 4.5 million and 5.5 million Britons live abroad – around 7-8% of the UK population. Spain has become a firm favourite for people choosing to settle down overseas.
The United Nations Population Division found that over 381,025 official British expats were in Spain during 2013, with even more who are unofficially living ‘under the radar.’
The Nuffield Trust has recently unveiled some worrying predictions regarding what tens of thousands of expats returning to the UK for healthcare following Brexit could mean for the NHS.
The independent health charity has released a report warning that the NHS will face an even bigger financial strain than it is already under if expats are forced to return to Britain because they can no longer receive funded healthcare in the EU.
The UK has had an unprecedented period of low interest rates; 2009 saw the base rate drop to 0.5 and then last August down to 0.25. That's eight years of extremely low interest rates. Whilst this has been great for borrowers and helps to keep the business economy afloat, it has been disastrous for those people in or approaching retirement. Annuity rates have been terrible for pension income returns and the bank rates for the people who have savings have been providing very poor returns.
In true form, the ending of Theresa May’s last-minute snap election ended in a rather unexpected hung parliament, with the Conservatives planning to team up with Northern Ireland’s DUP party to form a majority government.
The election marked shock losses for the Conservatives. Out of 650 seats, the Tories finished with 318 seats – eight short of the figure needed to win – with Labour on 262, the SNP on 35 and Liberal Democrats on 12.
When an expat moves from their homeland to a new destination, either for work or education, they become a potentially valuable addition to that country. Such expats may go on to become an integral part of the country, which is why the rights of EU expats living in Britain has been one of the hot topics during Brexit negotiations.
Theresa May's pre-election refusal to guarantee the rights of migrant workers appeared to have a negative impact on many UK job sectors employing top flight individuals. It's a problem the media highlighted as a Brexit 'brain drain'.
Living on the Costa del Sol comes with many benefits. But it's not just the warm weather which makes it attractive to British expats or the fact that Blacktower has a team of expert financial advisers located in Marbella. No, there's plenty more to Spain than it's Sunshine Coast.
And in order to fully enjoy your life beside the beaches of Marbella, Malaga and Fuengirola why not drop into our offices to see one of our financial advisers?
It's always crucial to have your finances in order as these are uncertain times for expats, and the full impact that Brexit will have is still not known. However, receiving professional advice about the best way to manage your finances will help prepare you for whatever the future has in store. Our financial advisers in Marbella will provide you with nothing but the best guidance on how to manage your money.
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