by Jane Fisher
UK
sterling has touched its strongest versus the euro since December
28th 2007 today, or more than 7 years, at a peak of 1.3536.
The
pound has risen, chiefly because it remains to be seen whether Greece
will still be part of the Eurozone at the end of this month. Today
for instance, both Greek prime minister Alexis Tsipras and finance
minister Yanis Varoufaki released statements rejecting the term’s
of Greece’s bailout, putting Athens on a collision course with the
rest of Europe.
Mr.
Tspiras for example told the Greek parliament today that “We are
not negotiating the bailout; it was cancelled by its own failure.”
This followed a confidence vote in Mr. Tspiras’s government, in
which 162 of 300 Greek MPs voted to continue supporting his
anti-austerity platform.
Meanwhile,
Greece’s treasurer Mr. Varoufaki has insisted that “Greece's debt
cannot be paid off in the near future.” This statement comes ahead
of a meeting between Mr. Varoufaki and other Eurozone finance
ministers this week, to discuss Greece’s bleak financial future.
With
this in mind, the pound has exceeded its 7-year high versus the euro!
