The following article is very interesting on the rating of European Union debt. http://www.moneymarketing.co.uk/investments/moodys-downgrades-european-union-outlook/1057266.article I would place EU debt as being lower than that of Germany or Holland. The Member States do not have to be a member and can leave as Greenland left in 1984. If the regulations become even more onerous that the UK could seriously lose its position as a financial centre, it is perfectly feasible that the UK, the second biggest net contributor after Germany, could cease being a Member State of the European Union. The German taxpayer is not happy with the bailouts for Greece and the emergency fund. In my personal opinion I am even more pessimistic than Moody’s. rnrnI have been particularly brassed off with the BASEL III reforms which have led to an increase in interest rates for mortgage offers. In the US 15 year fixed rate mortgages reached historic lows in 2012, while our best fixed rate mortgages have seen an improvement in competitive offers but are not at historic lows. Another cost to the UK economy for our membership of the European Union.rnrnThis information is intended to provide a general review of certain topics and its purpose is to inform but not to recommend or support any specific investment or course of action. The tips may not apply, or be suitable, to everyone and you should contact us for advice if you are unsure whether this is the case.rn
