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Demise of "French News"
by Annik • Sat 06 Dec 2008 11:22

I was really shocked this morning to read in "The Times" that "French News" has become insolvent and closed down, with the loss of 21 jobs. I had a look on their website and it doesn't say anything there at the moment. I always thought it was a really good paper and enjoyed reading it every month. We will miss it.

If you want to read the article yourself, click here.

Basically they say that their position was untenable because so many Brits are unable to cope with the financial crisis and are going back home. "The money has just stopped circulating," said Miranda Neame, the editor and co-owner.

The transport manager of Anglo-French Euro Removals is also quoted as saying: "There is a massive return that began at the start of the year.... you'd be crazy to buy property now in France."

Annik

"Outside of a dog, a book is man's best friend. (Inside of a dog, it's too dark to read.)" Groucho Marx
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Re: Demise of "French News"
by Dave • Sat 06 Dec 2008 13:49

Sobering stuff.

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Re: Demise of "French News"
by oldbill • Sat 06 Dec 2008 20:05

8O We must be realy mad then, we have just, finaly, found a house. We have paid our deposite and are set to join all you other mad bu**ers in March. :lol:

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Re: Demise of "French News"
by Mikeovers • Mon 08 Dec 2008 01:31

8O We must be realy mad then, we have just, finaly, found a house. We have paid our deposite and are set to join all you other mad bu**ers in March. :lol:
oldbill
Hello Oldbill,

No, you're not mad, even in a world of financial instability, you will find, in this part of France, a certain calmness and serenity which would be hard to find in the UK.

Without doubt, the collapse of the international finance system will bring great hardship to many innocent people, and if you need to work, this is not the best place to be, but for those of us old enough to be "surplus to requirements", rural France is probably quite a good place to be right now. If the wheels come completely off the wagon, you probably have enough land to support yourself, as long as you have the strength, and after that, it won't matter anyway.

Contrast this with the UK, where almost everyone lives in a house with a pocket handkerchief garden, quite unable to provide even basic nutrition, and where the fundamentals of ordinary husbandry went out of the window with the arrival of FineFare and Gateway supermarkets!

I am not a countryman, although my parents & grand parents were, but I am very grateful to live where it is still possible to survive by ones own efforts, helped by the seemingly endless encouragement of my neighbours.

Bon Courage, et Bienvenue en La Creuse,
Mike

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Re: Demise of "French News"
by Annik • Thu 11 Dec 2008 11:13

In The Times today there's a piece about bureaux de change giving a euro to the pound - just like the nightmare scenario posed by Dave's questionnaire that used to be on the right-hand side of the home page of Pontnoir.

I agree very much with Mikeovers that the calm Creuse is a good place to be in a world of financial instability but having watched the value of our hard-earned savings plummet, I must confess I am getting worried. The prospect of everything being at least 25% more expensive is not nice.

However we bought our house such that it would not itself be a significant drain on the family finances, so I suppose we just get stuck in next year and grow as much of our own food as we can. I will be reading MaryR's foody columns with even more rapt attention!

I suppose I am more pessimistic than usual because I have just learned that my old newspaper has been closed down and that lots of my journalist friends across the country have been made redundant by different proprietors over the past two or three weeks.

But putting it against the timescale of the life of our lovely old house - which was built in 1806 and has seen revolutions, wars and depressions galore - it's just another blip on the chart...

Annik

"Outside of a dog, a book is man's best friend. (Inside of a dog, it's too dark to read.)" Groucho Marx
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Re: Demise of "French News"
by edmoraz • Thu 11 Dec 2008 19:14

I know Annik I could not believe the exchange rate. We are over in January and February and I will be bringing as much with me as possible to cut down on the expence. At least the peace and quiet are free.

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Re: Demise of "French News"
by oldbill • Thu 11 Dec 2008 20:16

As my wife pointed out, after we paid the deposite on the new house. It will be a damm sight nicer to starve in France than in England. :D

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Re: Demise of "French News"
by Sheriffof0 • Wed 17 Dec 2008 13:35

Yes, I have been expecting this would begin to happen. My fear is that it will get a good deal worse before it gets any better. I met Ms. Neame and her business partner Adam 10 years ago at a mutual friend's house near St. Astier in the Dordogne. I can't remember what we discussed but an awful lot of Pecharmant was drunk. I quite liked her. When I bought in July 2007 I attempted to insulate myself against the coming tide by realistically scaling my borrowing plans and allowing for £/€ parity. I must confess I didn't expect to see it quite so soon. I'm not hurting yet but I will be if it loses another 20-25%. If that happens there'll be a heck of a lot more to worry about. In some sense it focuses the mind on the obverse of the problems. With a French mortgage and £/€ parity it makes me consider moving to my house sooner IF I could find suitable paid employ. It must also be considered that my biggest asset is priced in €uros, clearly currently outperforming Sterling. Obviously, selling (which I have no intention of doing now or in future) would be a desperate option and good luck in finding a buyer any time soon. Nope, you're either in for the long haul or you may well have to cut losses quite badly. It would be interesting if your property was not a maison secondaire whether it could qualify for mortgage relief? If you're having trouble and it's your only home, why not?

I am not convinced that the €uro will not be in for a rocky ride itself in the coming year. First the Dollar, then the Pound, after that the Euro..... I don't pretend to have any especial insight into the entrails of the various financial goats being sacrificed left, right and centre and nor have I ever held much faith in the pseudo-science of economics. But trend are trends...... until, of course, they are bucked.

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