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.
Why Greece Matters to Foreign Currency
Greece is one of the sixteen Eurozone member states and is currently facing massive debts, which it is unlikely to be able to repay, according to forecasts that suggest that significant growth in the country’s economy is improbable. The bailout funds that Greece has already had has only added to its total debt. Foreign currency markets fear that not only will Greece’s economy face real problems in the future, but that those problems have spread to other vulnerable Euro states such as Spain and Portugal and Italy is not really in a much better position. Greece has made severe cuts to try and save money, but these have resulted in strikes and rioting. The former Greek government has been forced to admit that it was less than accurate when it released statistics showing the extent of its deficit in the past. That government called the general election that focussed the world’s attention on Greece and the failure for that election to produce a government and the ‘anti bailout’ stance of many of the more popular parties seriously deepened the currency markets fears. The way that the other Euro member states and the European Central Bank have handled this issue has had a significant impact on the value of the Euro in foreign currency markets, particularly against the pound and the US Dollars.
What Foreign Currency Experts are Looking For
Those who work in the foreign currency markets are looking for reassurance that Greece’s economy is heading in the right direction and they are not getting it. There are two big issues. Firstly, how much of the money Greece has borrowed will actually be paid back and secondly where is the growth going to come from? Growth is really important. If the Greeks can get their economy to grow faster than inflation then there will be more money available to repay some of their debts in the short term and to invest in the own economy in the long term. Whether this comes as a result of tough economic measures taken by the Greek government, or from an agreement by the other Euro member states, the type and extent of economic reform is important. The Euro rallied briefly when it looked like strong political and economic states like France and Germany were going to recommend some form of support, but then weakened again when nothing substantial was forthcoming. The Euro exchange rate absolutely collapsed when the Greeks failed to form a government. It’s an issue that will continue to affect the position of the Euro in the wider currency markets.
Looking For The Best Holiday Money Exchange Rates? Do Your Research
For those holidaymakers who are prepared to do their research and don’t simply leave the currency exchange until the very last minute, it will be much easier for them to ensure that they get the best holiday money exchange rates. Depending on what foreign currency you are seeking, the savings that can be made on travel money exchange can be quite dramatic with your choice of supplier ordinarily being the biggest influence on this. We have totally rebuilt our exchange rates history service to help you do that research. Depending on how comfortably you are with maths, charts, graphs and percentages we have tried to present the information in as many ways as we can. At its simplest for example the Euro exchange rate is so much weaker now than twelve months ago that if you spent £500 you would get more than €70 more this summer than this time last year. For those that like their numbers that is a 12.6% drop in value for the best Euro exchange rates right across our comparisons.
During a recession we all have to try and get as much as value from our disposable income as we can and it nice to know that you haven’t paid over the odds for your foreign currency because there are few feelings worse than that of being taken for a ride by high street providers of holiday money. The foreign currency markets and their confidence in the Greek government and the leadership of the Euro zone heads of state have a direct impact on the rates you are going to be offered. It doesn’t matter which way things go in Greece or even in Spain to the markets. They make their money either by betting to the market going up or going down. As long as they have the confidence on what is happening they will be able to make their money. It is this lack of confidence that is causing the weakness in the Euro’s value at the top level and this filters down to the tourist exchange rates that you are offered. The relative weakness of the Euro exchange rate then effects the exchange rate of other currencies such as the best Turkish Lira exchange rates as the Euro exchange rate moves relatively to it.
We will try to keep you abreast of the latest developments in Greece and Spain even when they are no longer making the headlines. If there is anything else you would like to see us cover why not let us know.