Monday, 22 February 2016

Monday, 22 February 2016

EU – in or out?

So now we know a little bit more about where we stand. David Cameron is back from various EU Summits, and the cards are on the table concerning what the EU club can concede to the UK as a special case.

Now DC will impart those concessions to his party, then the greater UK public, and then he will seek to schedule the promised referendum on whether to stay within the EU market or quit and standalone.

The principal topics for negotiation were :
  • Child benefit
  • Migrant welfare payments
  • Eurozone
  • Protection for the City of London
  • Sovereignty
  • 'Red card' for national parliaments
  • Competitiveness
  • Some limits on free movement
The major impact for people involved with the French property market are in 2 areas. Firstly the strength, (or weakness) of the £, which impacts significantly upon activity on the French side of the Channel, and the secondly the consequences of a potential Brexit if that were to happen.

For the moment the focus is very much on the currency aspect. Markets do not like uncertainty, and tend to be volatile during such periods. Over the weeks ahead there are sure to be opportunities for buyers and sellers of Euros and Sterling. Timing is crucial – making the skills of a dedicated currency dealer all the more important.

Sterling v Euro over the last trading week.

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