Dutch authorities refused to allow Turkish ministers to campaign in the Netherlands for a constitutional change in Turkey. Over the weekend, the Turkish Minister accused the Dutch of behaving like Nazis, following a refusal to let the Turkish Foreign Minister perform a political rally. Turkish citizens living in Netherlands are campaigning for constitutional change, however they have been blocked from doing so in the Netherlands. Tensions are now mounting between the two countries as neither country shows signs of backing down.
With just a day to go before the first major election of the Year, analysts are expected the dispute to aid Geert Wilders’s far right party of freedom. If he does get into power, he has made his intentions for a ‘Nexit’ very clear which could spell the beginning of the end of the Euro in my opinion. This is likely to shake Euro investors and therefore damage the Euro’s value. Tomorrow is likely to cause a huge amount of volatility on the Euro, therefore I would suggest speaking to us here to make sure you are protected from further risks. World Politics of late have been unpredictable to say the least.
Yesterday European Central Bank chief Mario Draghi held a press conference in Munich where he left investors guessing for further clues on the future direction of the Euro following slightly less dovish comments from the European Central Bank, where he noted that downside risk to the Euro Area had lessened.
Those with Euro’s to sell may want to do something sooner rather than later in my opinion. With the political uncertainty in both France and Netherlands and a tight lipped Mario Draghi doing little to help investor appetite, I believe we could see the Euro weaken due to the political unrest and a reluctance to provide an insight into future monetary policy. Speak with a member of our team on 01494 725 353 if this affects your currency requirement.
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