Greece’s Woes Continue (Daniel Johnson)

GBP EUR Exchange Rate: Weekly Review July 16  

The referendum “no” vote was meant to be used as a bargaining chip to be used against Greece’s creditors, however the strength of this bargaining chip is questionable. With Greece’s Finance Minister Varoufakis’s resignation a deal may be on the cards. The new Finance Minister Tsakalotos has a far more agreeable stance on coming to an agreement.

Greece’s banks are now down to less than €500m, emergency funds are needed sooner rather than later. A deal for a bail out could be coming very soon. If that is the case expect the Euro to strengthen over Sterling. If you have a Euro requirement it would be the safe option to get your trade done.

Thank you for reading today’s Blog, I would greatly appreciate any feedback you have and would take pleasure in replying personally. I am more than than happy to assist you with any of your currency requirements. Feel free to e-mail me at [email protected] or call on 01494 787 478 and ask for Daniel Johnson.