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Home World Europe Global downturn dashes retirees' dreams

Global downturn dashes retirees' dreams

Wednesday, 24 June 2009 06:56
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Gill Burden, center, and Michael Trump, left, who moved to southern Spain about three years ago, attend one of their weekly Spanish lessons. The falling pound, collapsing house prices and dwindling pension income have virtually trapped the two British retirees.The plight of British retirees in Spain underscores the global nature of the economic contagion, with expatriates in the EU squeezed between fluctuating currencies and the collapse of housing markets.




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