There has been an increase in speculation that Eurozone leaders are contemplating the possibility of Greece leaving the Eurozone. If Greece do not keep to the commitments they made when they agreed to the bailout they will receive no aid and one of the major factors at play is that Greece needs to have a political party in place, the issue is though that currently the far left party are trying to form a government and should this party get in they will be anti the austerity measures which could cause major problems for Greece, the Eurozone and Euro exchange rates. The debate surrounding the impact of Greece leaving the Eurozone rages on comments from analysts and financial experts show the feelings are mixed. Personally I feel that should Greece leave the Eurozone it will leave the door open for other economies to follow suite. Meanwhile the problems in Spain continue to mount as one of Spain’s largest bank was nationalised by 45% due to concerns that the Spanish banks do not have enough capital to protect themselves from a further downturn in the economy.
If Greece was to leave the Eurozone it would be unprecedented and as such the actual currency market movement is unknown however while the long term implications for Europe may be that they have one less dependant economy taking bailout funds from the larger countries but in the short term it could cause major shockwaves across the world. If you need to buy Euros and are looking for the best exchange rates make sure you speak to one of our experienced currency brokers who will be happy to discuss the market outlook in detail and all the options available to you. Call us free on 0800 328 5884 or email firstname.lastname@example.org