Santiago Hagerman gives his thoughts on the effect of a rise in euribor

Euribor – European interbank interest rate – 12 month rate ended April at 2.086%, the highest level since February 2009. This means a higher cost of €744 annually for an average mortgage of €150,000.

According to GBS Finance partner, Santiago Hagerman, rising rates along with “tough fiscal cuts” that are required for the peripheral countries of the Euro zone will create “very weak” growth for the next several years.