Massive uncertainty for the single currency (Tom Holian)

Sterling vs Euro exchange rates hit 1.40 again during Friday afternoon’s trading session as fears increase that the Greeks will default on their next repayment to the IMF due by June 30th.

On Monday a meeting will take place with various European leaders in Brussels to try and hammer out a deal in order for the Greeks to be able to make their next repayment to the IMF due on June 30th.

Things have not gone well at previous meetings however with one meeting ending after just 45 minutes.

Therefore, the question is what will make next week’s meeting any different?

German Chancellor Angela Merkel has urged that a deal takes place before Monday’s summit but I am doubtful.

The Greeks have been asked to cut pensions and to increase VAT on medicines and electricity bills but so far they have resisted.

Sterling Euro hit 1.40 during Friday’s trading session and there is a strong chance that exchange rates will improve during early next week if the talks do not end positively.

If you have a currency transfer to make and want to save money on exchange rates compared to using your own bank then contact me directly for a free quote. Tom Holian [email protected]