The European Central Bank will offer funds on Wednesday to banks looking to repay loans later this week. The euro has been under pressure since earlier this year when questions were asked about high government borrowing and markets are tense going into the end of the long term refinancing programme.

The pound was also boosted by comments from the Bank of England’s Monetary Policy Committee member Andrew Sentance who made noises on Monday about raising UK interest rates to counter inflation.

The pound stood at 1.2327 against the euro this morning, getting close to the pre-crisis average.

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As the winter draws in and the recession bites further into our incomes, memories of summer holidays long since passed may start us thinking of next years vacation or even thoughts of a life changing experience of  a ‘better life’ overseas.

The ‘easy’ life always sounds attractive, but is the grass really greener? It is worth remembering that the credit crisis was a global phenomenon and nowhere in Europe has escaped unscathed.

The financial crisis has taken its toll on property markets across Europe and while the UK sees a minor recovery in the market, property prices in Spain for instance are still falling dramatically. That is good news if you are in the market to buy, but ex pats selling property have had to deal with a double whammy.

Not only have prices fallen but the GB Pound/Euro exchange rate has also been badly hit, leaving ex pats who rely on a UK income facing all sorts of financial problems when they come to exchange money.

It is good to know therefore that there are financial companies around who can make  international payments at better exchange rates than those offered by high street banks.

World First is the leading currency exchange broker in the UK, exceeding £1 billion turnover in 2008 representing over 20,000 private clients and 3,000 business transactions. They also guarantee the best foreign exchange rates, the fastest available international payments and boast an exceptional level of service.

At World First they also offer ‘forward contracts’ which allow you to set the sterling cost of your property up to a year before payment is due, avoiding fluctuations in currency rates.

Savings can also be made by ex pats who rely on income from the UK, World First do not charge extra for transfers made to Europe and offer the option of fixing the exchange rate of all payments from six months to 2 years in advance, a great way to manage finances with no fear of fluctuation.