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Looking Positive for the Euro
17 August 2015

Last week saw Greece succeed to push legislation through the Government and now almost certainly secure a new €86 Billion bailout package. With Greece due to pay €7 Billion on the 20th August which is looking like it will be resolved and this is likely to strengthen the Euro and could spell the end to the high exchange rates we have see over the last couple of months. This is far from over and is really only  in the very early stages which is likely  to see high volatility in Euro exchange rates in the coming months.

See below the break down for new bailout Deal:

  • €86bn total bail out from the European nStability Mechanism: this will be used toRecapitlise banks repay debts and intrest payments.

  • €50 Trust fund from Privatising Assets: €25bn to repay recapitalisation loan for banks, €12.5bn To reduce debt to GDP ratio and another €12.5bn for investment.

  • €12bn Bridging loan to repay European Central Bank debt by mid August.

  • €35bn EU Funding for growth and new jobs

This week inflation figures will be released  from the UK on Tuesday USA on Wednesday and Canada on Friday with a keen eye on the GBP. The worry is that if the current inflation figures falls below the current 0.8% then it would force the BoE to not raise interest hikes until next year squashing any chances of a rate hike this year. Interest rate hikes are key for currency values as it becomes more attractive to investors giving the Pound strength.

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