Due to the collapse in the pound’s value British expatriates in Spain alone have lost over £5 billion

Due to the collapse in the pound’s value British expatriates in Spain alone have lost over £5 billion in spending power this last two years. Hundreds of thousands of Brits living in Spain are dependent upon a sterling income. Pensioners have been particularly hard hit; as many more are dependent upon investment returns. This is already causing immense hardship.It beggars the imagination to think of the social effects if the exchange rate should drop to a predicted €0.86. It is best not to think of the pound being de-valued to as little as €0.50.