GBP to EUR: 1 Trillion Euro Investment Plan and Foreign Talks Upcoming for the Euro

Pound to Euro Exchange Rate: Euro Looks to Edge Over GBP as Coronavirus Ups the Pressure on Sterling

As the end of this trading week comes to a close, we are taking a look at what might be in store for the euro next week. Reports are suggesting that the EU Commission is looking to unveil an investment plan to mobilise at least 1 trillion euros as part of a push towards a climate-neutral economy. Meanwhile EU foreign ministers look set to continue talks surrounding the events in the Middle East and look for solutions to de-escalate the recent unfolding’s that have occurred, particularly involving Iran.

A Push Towards a Climate-Neutral Economy for the EU

The EU Commission has noted that it intends to bring forward an investment plan that is set to mobilise at least 1 trillion euros. The plan, which will be unveiled next week, could set the Eurozone up to be a world-leader in being one of the first climate neutral economies, should the plans deliver. The Sustainable Europe Investment Plan has a large sum of money to work with, but critics are suggesting that it may not be enough to fund such a monumental overhaul. Added to this, the scepticism from Poland as it remained the only holdout in the deal as EU leaders pledged to eliminate net carbon emissions by 2050 at a summit in Brussels on Friday. The plan is set to be released on January 14th and will likely be a positive driver for influencing climate change awareness and action across the globe.

Foreign Talks Set to Continue as Calls for DE-Escalation in Middle East Are Made

The EU foreign ministers met in Brussels on Friday to iterate the support for the moribund Iran nuclear deal and further extend their calls for a de-escalation in the Middle East. This comes after the recent events which have occurred between the US and Iran which saw a US air-strike take out a high-ranking Iranian official, in retaliation to Iran’s actions which saw a US embassy attacked. The world is rightly concerned about the escalation of the tensions in the Middle East and the meetings on Friday looked to cool down the situation. The EU also pledged further support for Libya and attempted to act as a mediator for the conflicts which are occurring in their own backyard, but they have little to show for their attempts thus far. It is likely the talks will continue and as the tensions increase between the US and Iran, more foreign ministers from around the world will likely meet to resolve the problems before they get out of hand.

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