Separatists regain power in Catalonia
Going against hhe polls, separatists regained power on Friday in the regional elections which could cause a confrontation with Madrid. The vote last week was a repeat vote of the October referendum which caused Euro weakness following a backlash from the Spanish government. The turnout for this vote was substantially higher than the October vote which does give this vote more credibility. 81.95% of the region voted and the separatists came out on top claiming seventy of the one-hundred-and-thirty-five seats available. King Felipe addressed the nation during his Christmas speech appealing for coexistence rather than confrontation. There has been violence attributed to the situation. This situation does have the potential to weaken the Euro.
Italian Election has the potential to weaken the Euro
One of the main concerns for Brussels is the Italian General Election. The anti-establishment political party, Five Star have a realistic chance of winning. If they do win a majority it is likely it could lead to a referendum with the potential of Italy leaving the EU. If Italy were to leave this could create a domino effect where other regions leave the EU. This has the potential to substantially weaken the Euro and should be taken seriously if you are a Euro seller.
Brexit Negotiations to dictate GBP/EUR
Brexit Negotiations will dictate GBP/EUR buoyancy levels for the foreseeable future so it is vital to keep an eye on events should you wish to maximise your return. I would expect GBP/EUR levels to remain flat over the holiday period before we return to normality on 2nd January.
If you have a large currency exchange to carry out in the coming days, weeks or months then you are more than welcome to speak with me directly as I will be more than happy to help you both with trying to time a transaction and getting you the top market rate when you do come to buy your currency. A small improvement in a rate of exchange can make a huge difference so for the sake of taking two minutes to email me you may find you save yourself hundreds if not thousands of Pounds. You can email me (Daniel Johnson) on email@example.com and I will endeavour to get back to you as soon as I can.