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GBP-EUR Rates – Back into 1.37! (Joshua Privett)
The Euro has been unexpectedly hit once more by the almost theatrical demands of the Greek Government yesterday. Most believed these issues had been swept under the rug, ready to emerge in another 4 months when another extension would likely be required. Then Tsipras, Greece’s Prime Minister, publicly declared that Greece was owed 279 Billion Euros from the German Government for war reparations.
The audacity is both amazing and sad. To see Greece pushed into such a corner that they would demand money, in a very insensitive manner, from their largest creditor (free) represents just how dire the situation is. It’s no coincidence that this value is a full 49 Bn Euros more than Greece’s total debt. Trying to actual make a profit from this claim, is the hardest to understand in this whole debacle.
As a result the Euro has weakened. Sterling was on a course to head down to the low 1.30′s due to the uncertainty of the election. But now this is thrown into doubt. This may still happen later in the month, but certainly in the short term, Euro buyers are enjoying some respite.
Contact me on [email protected] to discuss your personal situation in more detail.
Source: http://www.eurorateforecast.com/2015/04/08/gbp-eur-rates-back-into-1-37-joshua-privett/
