You can call the economic woe that's spreading across the EU a sovereign debt crisis, but best advice for IFAs with international clients is not to panic over currency markets, says forex specialists HiFX.
Director Chris Towner provides this insight into what’s going on. “The sovereign debt crisis in the EU is spreading as the financial markets stand on the threshold between heightened nervousness and panic. The reason for this nervousness is that the crisis is now spreading into countries that are too big to save. Italy is not just the third largest economy in the EU but more pertinently it has the largest bond market and the fear is rising that the Italians may in the future start to struggle with their enormous debt levels, which are approximately 100% of their annual GDP.” By way of re...
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