Spanish banking problems – Much more could really put Spain on the ropes GBP EUR exchange rates to remain volatile

GBPEUR Levels Back Near the Recent Highs as Investor Concerns on the Euro Heighten

Despite us seeing a little positive news from the Greek election polls over the weekend Spain is still a major talking point surrounding the Euro. Spanish bonds are creeping ever closer to the 7% level which is notorious for being roughly where countries have ended up requesting a bailout.

The Spanish Prime Minister also said yesterday “We are not going to let any region of finanicial entity fail, because otherwise the country would fall.” Lets be honest this does not sound particuarly promising and one would imagine that if Spain does step forward and need either bailing out as a country or indeed if we see another large Spanish Bank require further assistance then alarm bells should ring for the Eurozone.

The problem is, this would also impact  heavilly on the U.K and we could well find that the Pound is hit fairly badly as well, regarding GBP-EUR exchange rates you may well see a min or climb following anything like this happening but personally I feel itn would be short lived due to the longer term implications for the exposure of the U.K.

You will more than likely find investors putting money into the U.S Dollar which would possibly strengthen accordingly.

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