We all want the best exchange rates right? As some of you will know I have been on our annual pilgrimage to Switzerland this week and this time I have taken the opportunity to compare the exchange rates offered in a local Bureau do change, heathrow airport and Euro Airport Basel. This is a fairly graphic demonstration of how much money you can save by not buying your currency at the airport. The only way to get the best exchange rate is to order it in advance. Read more... (387 words, 5 images, estimated 1:33 mins reading time)
The focus has been taken off of Greece recently, firstly by the problems in Spain and the Spanish banks and the attention of the financial journalists has switched to the LIBOR scandal implicating Barclays and up to 19 other global banks. The Euro is one of the big players in the foreign currency market but because it’s used by many countries, all managing their own economies independently, it’s also one of the most vulnerable. This is something that have been all too obvious in 2012 and although there are plenty of rules, targets and formal legislation in place to help protect the Euro, it has taken a blow after blow recently from the problems in the Greek economy. Read more... (990 words, 1 image, estimated 3:58 mins reading time)
Interestingly our original 2009 article on whether the Euro was overvalued discussed the chances of a Eurozone meltdown. At that time we were getting less than €1.20 to the pound. Professor Hans-Werner Sinn, President of the International Institute of Public Finance, was quoted as saying that he felt the Euro was overvalued. Professor Sin was described by The Independent as among the ten most important people who changed the world in 2011, so no light weight then. Jim O’Neil of Goldman Sachs was quoted as saying that “something needs to be done by European policy makers to stabilise the euro in the near future.” Read more... (1119 words, 1 image, estimated 4:29 mins reading time)
Tags: Currency, euro, Euros, Exchange Rates, germany, Greece, ireland, italy, portugal, revalue, safe haven, Spain, Swiss Franc, US Dollar — Comments (0)
Last Tuesday (15/05/2012) DialaFlight put out a completely fictitious ‘news’ story on their blog that Euro notes issued in Greece will become worthless if Greece left the single currency. As soon as we noticed the story, about mid morning on the 15th we started to point out that this was not true.
Later that day ABTA [the travel agents association] also started to try and stop the story and also the British Bankers Association also issued a statement. DialaFlight have since deleted the post from their blog. Read more... (438 words, 1 image, estimated 1:45 mins reading time)
This morning the Euro is falling against the pound as the markets open following the weekends elections in France and Greece.The parties that supported the european bailouts in Greece have lost out and this is putting question marks over Greeces future in the single currency. The rate has hit, as I am writing this, £1 to €1.295 on the markets although the retail prices are slightly less. Read more... (266 words, 2 images, estimated 1:04 mins reading time)
February Top 10
Read more... (223 words, 15 images, estimated 54 secs reading time)
Find the best deals »
