eu -wide agreement re credit.

jamescredmond

report london metro 18/01/08. credit/loans to be available to all residing in eurozone from cc co.s /banks existent in eu. so you live in uk but can borrow from,say, poland.: what potential does his hold for uk stoozers?

btw: not enacted by eu parliament until 2010 at earliest.

thanks.

webbo100

I would guess not much for UK based people. Any EU card/loan will be in Euro's so there will be a exchange rate loss for all payments and probably for any balance transfers.

CannyJock

There's no automatic gain or loss at the purchase time, the exchange gain or loss would depend on the currency at the time you do the balance transfer or purchase and the time you're making payments., buying on a weak Euro and repaying on a weak Euro won't create much of a gain or loss.

Will depend on the situation in 2010, but if it was possible right now then over the past 12 months you'd actually make a bit extra from the Euro, it's risen over last year to £ 0.7430 at the moment.