Following the first day of the EU summit has led to Eurozone leaders beginning to formalise a new plan to help the single currency economy out of the current debt crisis. The first part of the agreement we heard last night was that they will use bailout funds to directly support struggling banks without adding to government debt. On top of this a new governing body designed to monitor banking practices in the Eurozone will be created in an attempt to prevent further banking issues which have recently added to the economic problems. While this sounds like good news, EU banks getting money and it not becoming a debt for that government, there are still questions surrounding who will be responsible for the debts, how much is available and also whether the UK will contribute to the scheme. However, answers to these questions and possibly some more news is likely to come out of the summit today as it continues. So, if you have an upcoming currency transfer , especially if you are looking to buy Euros and would like to be kept up to speed with the latest news and be kept aware of any relevant swings in the currency market please call us today.

In other news, the banks are back in the headlines, following banks being found to have been miss-selling Payment Protection Insurance (PPI) Barclays have now been found guilty for manipulation of the LIBOR interest rates and there are chances that other banks are to be brought up on this too. At Foreign Currency Direct plc we have constantly strive to beat the banks with our rates of exchange and the levels of service we provide. While the banks continue to pay out mind boggling bonuses and are brought up on these sort of charges, we continue to pride ourselves on providing a totally transparent service with excellent exchange rates. So, if you need to transfer money abroad and are looking for the best exchange rates make sure you speak to us. You can be sure that not only will we strive to beat the banks exchange rates but you will be dealing with an experienced and knowledgeable currency broker who will be happy to talk you through your currency requirements and all the options available to you. Call straight through to us on the free phone number 0800 328 5884 or email us on