Tens of thousands of expatriate pensioners in danger of going below the poverty line as exchange rate plummets
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the olive press
Andalucía ’ s Fortnightly News Publication ** Eastern Edition ** Issue 62 January 28 , 2009
An end to the El Dorado dream ?
Tens of thousands of expatriate pensioners in danger of going below the poverty line as exchange rate plummets
Paul Whitelock
TENS OF THOUSANDS of British pensioners living in Spain are in danger of falling into penury .
Trapped by rising prices , a property market that has completely collapsed and a pound that has plummeted almost 30 per cent against the euro , many are on the verge of being forced home to the United Kingdom .
With one pound now worth one euro , it means that those surviving on state pensions have seen their monthly payments fall by more than one hundred euros .
Private pensions are similarly affected by the falling pound , while those who support themselves from the income on their savings have been hit by interest rate cuts .
One local pensioner , Janet Allwood , treasurer of Age Concern in Estepona , has seen the value of her state pension drop from 586 euros a month to 402 euros .
“ We are frightened to spend anything ,” she says . “ We are even worried to spend on airfares to see our grandchildren .”
But Janet revealed that many are far worse off than her .
Eugenia Smith , 82 , has lived in the south of Spain for the past 26 years . She says that with the decrease in value of the pound , she does not have the money to heat her Torreblanca apartment on the Costa del Sol .
“ I can barely afford to turn on the central heating . I hope this winter is not as cold as last year .”
At the start of 2008 , her pension was worth 629 euros per month . By November of last year , Eugenia received 521 euros - 108 euros less . “ Luckily , I have no mortgage . But the bills seem to be more and more each month .”
Story continues , page 8 FEELING THE PINCH : Philip Edge
Dozen killed in heavy storms
FOUR children were among those who lost their life when strong winds battered much of Spain towards the end of January .
The children , aged between 9 and 13 , died after the roof of a sports centre collapsed in Sant Boi , Catalunya .
The victims had been playing baseball before they were ushered inside the building to seek protection from the 100 kilometre per hour gales .
As soon as they got inside , a gust of wind tore off the roof causing two concrete pillars to crash to the ground .
Thirteen people were pulled from the rubble . By the time the Olive Press went to press , nine were still receiving treatment in hospital .
An eye witness said : “ We heard a loud noise and thought a tree had been uprooted . It was terrible . There were screams and children were buried under concrete .”
Town mayor Jaume Bosche said that the sports hall , which had been built in 1993 , was “ in perfect condition .”
An investigation to determine how the roof collapsed is expected to start this week .
Three other people were killed in separate weather-related incidents in Catalunya , including a 52-year-old woman who died after a collapsed wall hit electricity pylons , causing a fire .
In Burgos , Castilla y Leon , a pensioner died after she was hit on the head by a door which had been pulled from its hinges by the strong winds .
A fisherman died when his trawler capsized during a gale off the coast of Galicia , while a 51-year-old man died after a wall collapsed on top of him in Alicante .