With Brexit sowing the seeds for political change and a challenge to the dominant force of the European Union the Netherlands have also launched their won challenge against the Eurozone. Dutch politicians have voted in favour of a parliamentary inquiry as to whether it is possible to withdraw using the single currency and if so how it would be possible. One of the main reasons appears to be that the historically low interest rates are causing problems for both Dutch savers and pensioners who have worked hard and now feel they are being penalised.
There appears to be an increasing voice of Euroscepticism in many of the members states and with elections due to begin next month in Holland we could be in for a very interesting period ahead for Sterling Euro exchange rates.
Geert Wilders is the far-Right man in charge of the Party for Freedom who is currently leading the polls ahead of next month’s election. He has promised to deliver a referendum and the term ‘Nexit’ appears to be gathering momentum. This is in contravention to the other parties involved in the campaign so if he does win this could in my opinion cause potential weakening of the Euro against both the Dollar and the Pound.
The French Conservative presidential candidate Francois Fillon could be under extreme pressure to stand down as a financial prosecutor has asked a judge to investigate the payment of money to his wife Penelope for jobs that didn’t exist. The allegation is that she was paid EUR900,000 over a number of years.
This has caused him to lose ground in recent polls to his rival Marine Le Pen from the National Front and Macron in the run up to the first vote due to be held on April 23rd. So far the votes appear to show Le Pen in the lead with 26% of the vote, Macron second with 23.5% and Fillon at just 20.5%. However, even if Le Pen gets through the first round it is likely that she will lose overall to Macron who will win with a clear majority. However, as with ‘Brexit’ and Trump the bookies and polls have been wrong in the past so we could have another uncertain period ahead.
Indeed, every currency is affected by a number of different factors including economics and politics and as we saw last year it appears as though politics has been the biggest influence on GBP/EUR exchange rates.
In the next couple of months I think we could see a great deal of uncertainty on the continent, which could result in problems for the Euro. Therefore, if you’re considering selling Euros in the next couple of months it may be worth taking advantage of these current rates. Call our team today on 01494 725 353 or email me here to make the most of current rates of exchange.
As always, I got an excellent rate. Tom is always helpful and the whole process is extremely quick, efficient and simple.
Tom helped us so much explained every thing and got us a better rate to buy our home in Spain, when we had to pay for furniture went back again and he sorted a rate out for me.
Brilliant service, genuine advice and rapid transfer of money to our French bank account. Tom Holian seems like a friend although we’ve never met!