Despite repeated attempts by Eurozone countries to prop up the single currency, many experts believe the Euro cannot survive 2012 intact.
The Euro weakened at the end of 2011 and ended the year as the worst performing major currency, sinking to a 10-year low against the yen and a one-year low versus the dollar and Sterling
In the UK there are newspaper reorts this week that the Treasury has drawn up contingency plans to prevent people shifting huge sums of cash from the Eurozone to Britain – amid fears it could lead to a surge in the value of the Pound.
UK Chancellor George Osborne talking about the plans for a Euro collapse said “I don’t think it will come as any surprise that we’re spending even more effort on these plans than we have done previously.”
In the first week of 2012 we have seen Spain’s economic outlook deteriorating further with unemployment at record levels of 22% and Greece is also warning it will have to leave the euro if an agreement cannot be reached on its bailout.
Before Christmas we had Eddie Hobbs talking about Euro collapse – maybe he wasn’t wrong?
The question many people are asking is “what will happen if the euro collapses?”
Nobody can say for certain, but if you are looking to reduce the risks and move your assets out of the euro check out this short item on how to Transfer Your Savings into a UK Bank