Pound Sterling Vs. The Euro
While Southern Europe, especially Greece, prepare to tighten their belts and agree to harsh austerity measures, it’s the Pound Sterling that will see the most out of the bad economic situations facing the South. “Sterling rose to a near 9-month high against the euro on Wednesday as deepening concerns that euro zone debt problems will spread beyond Greece battered the single currency.” - Reuters - Link to article
The saving grace for tourist areas of Greece may be the strengthening Pound Sterling because the new austerity measures passed on Thursday in Athens, will strangle the working class greeks. As I write this article, one pound sterling is about 1.169 €, which is better than what it was all last year. In a weird turn of events, Greece bringing down the Euro, might be the only thing that ends up saving Greece in the end.
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