Christian Debt Recovery

Irish Debt Crisis

June 23rd, 2010 |

Author: Gavin

irish debt crisis

The Effects of the Irish Debt Crisis on the Pound – Euro Exchange Rate

Excellent GBPEUR rates remain… For now…

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We are still seeing some excellent trading levels on the GBPEUR rate and the feeling now is it may not last.

The Irish bailout has pretty much been confirmed although it is not being termed a bailout, more a loan. I don’t personally think there is much difference! Either way the reality is they are going to have to ask for some assistance and the story is quite well documented now. And because of the UK’s involvement financially it hasn’t had a massive impact on the GBPEUR rate.

What I would expect to cause some further volatility would be news that the scale of the problem is worse than expected or the news that Spain, Portugal or Ireland are going to require similair help.

The ECB have shown themselves to be very prepared to step in when the very stability of the euro is threatened. As long as the worst is over for the euro, then I would expect rates to remain in the mid teens band. But should those underlying fears bubble up, we could quite easily slip closer to the 1.20 levels seen earlier this year. Uncertainty is still the watch word so stay in touch with us here as small spikes do appear which if taken advantage of will save you money. Alternatively why not get in touch with us on the contact form? As specialist currency brokers we can micro manage your requirements offering a dedicated personalised service that undercuts the banks and can save you money.

About the Author

The author is Senior Executive Dealer Jonathan Watson BA who works for Foreign Currency Direct Plc, www.currencies.co.uk. They have won numerous awards for both their rates and customer service. Please feel free to contact the author direct on 0800 328 5884, jmw@currencies.co.uk

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