Last night German foreign minister Guido Westerwelle stated that Greece must stick to the agreed bailout terms which is putting more pressure on Greek PM Antonis Samaras who is expected to ask for more time to make the necessary austerity measures this week. Next month Greek are due to receive €31.5bn in loans but should France and Germany decide not enought cuts have been made then they are within their rights not to loan the debt laden economy the money they need to survive. However, the German minister did continue to pledge support to Greece and stated that the German government wants the country to remain in the Eurozone. These comments have heaped more pressure on Greece and therefore the Eurozone and so with next month expected to be when the European Central Bank (ECB) make a key announcement about how they will radically save the Eurozone. So, if you need to purchase Euros make sure you speak to one of our experienced currency brokers today so they can explain the options available to help you make an informed decision on when to trade.
In the UK there was some positive news as it was confirmed that the number of mortgages being agreed had increased last month but the Council of Mortgage Lenders warned that not too much should be read into these figures as they expect the numbers to see saw over the coming months. A positive housing market can have such a positive impact on the UK economy and therefore Sterling so should we continue to see mortgage figures improve then this may help the UK recover from the current economic crisis it is in. So, future housing market data releases will be very closely monitored to see whether the CML’s prediction of a see-saw market is correct or whether we are on the start of a positive trend.
If you need to send money abroad and are looking for exceptional exchange rates make sure you speak to one of our experienced currency brokers here at Foreign Currency Direct so they can discuss your currency requirements and the options available to you. You can call straight through to the dealing floor for free on 0800 328 5884 or email us on firstname.lastname@example.org