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Greece is one of several EU countries struggling with a gaping deficit and heavy debt, preventing them from spending their way out of recession. Greece's deficit is at 12.7%, more than four times higher than eurozone rules allow. Its debt is about €300bn ($419bn, £259bn). The possibility of Greece or one of the other stricken countries being unable to pay its debts - and either needing an EU bailout or being forced to abandon the euro - has been called the biggest threat yet to the single currency. As a result we have seen a great deal of euro weakness in recent weeks helping GBPEUR top-out close to 1.1650 towards the end of January.

Current Central Bank Rates:

European Central Bank: 1.00%
UK (Bank of England): 0.50%

GBP/EUR Highs & Lows of February:

High: 1.1552
Low: 1.1145

A movement of: 3.65%

Difference this would make on £200k

High: €231,040
Low: €222,900

A difference of €8,140

All of the information above can be explained clearly by your personalised dealer should you open a trading facility with HIFX. To discuss your requirements in more detail and for a free currency consultation please contact HiFX plc on 01753 859 159 or email [email protected].

Regards

Mark Bodega
Director - HiFX
 
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