UKIP Leader Nigel Farage Says "Get Your Money Out of Spain While You’ve Still Got a Chance"

UK Independence Party (UKIP) leader Nigel Farage makes the same common sense plea that I have been stating for some time. Farage says "Get Your Money Out of Spain While You’ve Still Got a Chance".

The UK Independence Party leader said that the European Union had “crossed a line” by trying to extract funds from savers under the terms of the abandoned Cypriot bail-out.

Mr Farage said: “Even I didn’t think that they would stoop to actually stealing money from people’s bank accounts.

“There is going to be a big flight of money and that flight of money won’t just be from Cyprus, it will be from the other eurozone countries, too. There are 750,000 British people who own properties, or who live, many of them in retirement, down in Spain.

“Now that we see the EU are prepared to resort to anything to keep alive their failing euro project, our advice to expats living down in the Mediterranean must be, 'Get your money out of there while you’ve still got a chance’.”

Surge in Support for UKIP

The latest poll shows Ukip only 10 points behind Tories.

The Conservatives and Liberal Democrats have suffered a double blow as Nigel Farage's UK independence party soared to 17% in the latest Opinium/Observer poll, and a large majority of voters have said they believe coalition economic policies are harming the country.

Labour has dipped by 2% to 39% – also a likely victim of the UKIP bounce – while the Tories are down by the same amount to 27%, one of their lowest ratings of recent years.



The personal ratings of the leaders of the three main parties in parliament have all dropped, with David Cameron's having fallen by 8 points in two weeks from -18% to -26%. That of Labour leader Ed Miliband has dropped 5 points in a fortnight to -20% while Nick Clegg's rating has crashed a further 7 points from -46% to an alarming -53%.

But the findings on the economy will reverberate most at Westminster. Just 20% of all voters now believe the government's economic policies have been beneficial to the economy, against 58% who say they have been harmful.

Let's hope there is a run on Spanish banks. The sooner this mad experiment in the eurozone ends, the better.

Mike "Mish" Shedlock
http://globaleconomicanalysis.blogspot.com 

Mike "Mish" Shedlock is a registered investment advisor representative for SitkaPacific Capital Management. Sitka Pacific is an asset management firm whose goal is strong performance and low volatility, regardless of market direction.
Visit http://www.sitkapacific.com/account_management.html to learn more about wealth management and capital preservation strategies of Sitka Pacific.