If Greece exit Euro

Written by Allen Walkey on - Breaking News -

The recent run up to the General Election and the election itself was enough to cause the property market to stagnate especially in London, that is if recent figures regarding activity and growth are anything to go by, without any doubt the fear of a Labour government was the cause of this with all its threats of crackdowns on so called wealthy property owners.

The uncertainty of the last few months appears to have faded and most involved in the property market appear more confident and are looking forward to an increasingly active property sector for the next 5 years.

Unfortunately we have a major problem in Europe right now which could spoil any plans we may have for the next 5 years, Greece is running out of time to come to an agreement concerning their debt re-structuring with the EU and IMF, the implications of a GREXIT could have enormous negtive impact on Europe and in turn the UK, it would knock confidence and cause uncertainty.

I personally expect the issues surrounding the debt problem to be resolved, why these politicians always have to play at their brinkmanship and always go to the wire when decision making is beyond me.

There is a further meeting of Eurozone finance ministers today, reports state there is no great  expecation of a deal today, Greek finance minister Mr Varoufakis, when asked if there could be an agreement at the meeting of eurozone finance ministers in Luxembourg on Thursday, said: “I do not believe so.”

They need their heads knocking together, European Ministers are to blame for the Greek crisis, they should have done their homework better from the start, they allowed Greece to enter the Euro on the back of very little due diligence, Greece are now suffering for being allowed into a club they were unable to afford, the EU finance ministers need to get their act together and sort it out.

Author: Allen Walkey

Highly experienced businessman with a successful career in property sales and investment both in the UK and abroad. Now a freelance writer and blogger for the property and Investment Industry, keeping readers up-to-date with changes and events in a rapidly changing world.


Recent Popular Articles

Inheritance tax raised to £1m

David Cameron and George Osborne writing in The Times on saturday  confirmed that the threshold at which inheritance tax is levied will rise for couples

Record levels of retirees paying rent according to Countrywide

According to the latest figures from Countrywide’s Monthly Letting Index retirees in Britain spent a record £3.7bn in rent in the last 12 months, an

"Granny Flats" now not to be included

The controversial new tax for buy-to-let and second homes introduced from  1st of April will not now include homeowners with self-contained "granny flats", the government

Steep fall in new home starts

According to figures from the National Housing Federation (NHF) fewer than 460,000 homes were built between 2011 and 2014, the government expects to build 1m

Boost to housebuilding shares

The stock market (FTSE 100) rose yesterday with housebuilding stocks leading the way after Chancellor George Osborne announced measures to support the sector in his