It was announced last night that Greece have narrowly backed a new round of auserity measures in order to help the country recover from its current economic issues. The austerity measures were put through with a majority of just three which showed just how split the Greek coalition government was. The austerity measures are for €13.5bn in tax hikes and pension cuts but while the countries economy requires the austerity measures the Greek public have taken to the streets in protest which in places have turned violent. Before the vote Greek PM announced that should the austerity measures not get passed the country would not get their required bailout funds and would then face a “catastrophe”, these comments go to show just how close Greece came to default. With the problems continuing in the debt ladden Greek economy it seems Europe is still some way from being clear from its current issues. Should the austerity measures not have passed last night we could have seen significant movement which just goes to show how important it is for clients to stay in close contact with your currency broker here at Foreign Currency Direct plc.
Following the news from Greece, Sterling Euro exchange rates (GBP-EUR) have pushed back up to the highest exchange rates we have seen for the last month. So, if you need to buy Euros and are looking for the fantastic Euro exchange rates make sure you speak to us today. At Foreign Currency Direct we have a number of different contract options to help our clients and our experienced and knowledgeable currency brokers will be able to discuss your currency requirements and the options available to you so you can make an informed decision.
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