Madeira Palacio. Sterling weakens.

Enotel Madeira Palacio

Madeira Palacio beforeMadeira Palacio todayAs reported here last month, the Diario today confirms that businessman Estêvão Neves is to invest €70 million in the reconstruction of the Madeira Palacio. The recovery of a historic hotel unit is planned within a year, after being stopped since 2008. The photo above shows the former hotel in its heyday (yours truly stayed there 28 years ago!), whilst the one opposite is what it has looked like for the last ten years after an ambitious re-build failed.

Sterling hits 11-month low against Euro

Sterling weakensThe pound is struggling against most currencies at the moment – and has been for some while, hitting an 11-month low this morning.
poundsterlinglive.com reports that the Pound-to-Euro rate outlook is dividing analysts in an almost-mirror image of how fractured the UK populace has become over Brexit. In one camp are those who see the Pound-to-Euro rate as having absorbed a lot of bad news already and, on the other hand, there are those who say the risk of a “no deal Brexit” will put more pressure on the Pound in the months ahead.

10 thoughts on “Madeira Palacio. Sterling weakens.”

  1. My gut feeling is that the £ is being kept artificially low. A weak pound makes exports attractive and tourists get mote £ for their dollars, yen, euros etc.

    Despite the doom merchants who want the UK to remain inside the corrupt eu saying the economy will collapse well, it hasn’t! Unemployment is down and overall the economy is not failing.

    Reply
  2. Once UK out of Europe taxes will have to go up. Germany has said in resent past dont expect us to fill in the hole, other counties are expected to chip in. It be the smaller countries as normal who fill the pinch as history is repeated.

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  3. Sweden what I read the main parties lost touch with its people. The fault across what ever politics across Europe as well as UK is too many people in politics in what ever party cant be bothered to get out from well paid jobs and their office and talk to the people. If Europe fails then they be tears

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  4. Thank you anneke5025 for the added bit of information. Just to finish If all governments learn to listen to another persons gripe and say this is going to long they have a point. Then defuse and both sides walk away happy we leaned from the history books to a better world.

    Reply

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