Eurozone Economy: Bankers prefer pounds over euros

Eurozone Economy; Central banks Still Favour Pounds

The naysayers were busy stating that voting for Brexit would mean the end of Britain. However, it appears the central bankers prefer pounds over euros, a further validation that Britain is on the right track. Why else would they favour Pounds over the Euro? The EU has been busy pumping up the propaganda machine stating that the EU is fine without Britain and that Britain would be the one that would pay the heavier toll. Excerpts from several articles posted below seem to debunk this myth.

Central bankers said they have been ditching European government bonds in favor of sterling-denominated U.K. government paper due to fears of a reversal in European debt prices and the potential depreciation of the euro.

A survey published by Central Banking Publications released Monday asked reserve managers at 80 central banks about their main sources of anxiety in 2017. Reserve managers are in charge of deciding how to invest a central bank’s international reserves, with the aim of maintaining the value of their domestic currency.

Seventy per cent of respondents said they had altered their allocations in regard to euro-denominated assets, and.a third of the respondents said they were most worried about corrections in government debt of various European countries. The potential price crunch could knock down the value of their holdings and leave them with losses of potentially billions of dollars.

Some investors have echoed concerns about European government debt, which has seen prices soar and yields drop to zero and below as the European Central Bank continues its aggressive bond-buying program. Richard Turnill, Blackrock’s global chief investment strategist, issued a note Monday entitled, “Downgrading European Fixed Income.” Yahoo Finance

Eurozone Economy: Currency Wars and the Race to the bottom

Here is another report which clearly validates the general theme that Central Bankers favour pound to Euros. The truth is that the European Union is bankrupt and it is run by leaders that have not been elected by the people. These bloodsuckers have been getting rich at the expense of regular Europeans and they dread the day the easy money will end. Thus they are going to fight tooth and nail to try to hold onto these privileges; the idea is to scare everyone into thinking that leaving the EU would be disastrous.

Reserve managers of 80 largest central banks with total volume of investments at 6 trillion euros have taken part in the survey. The euro is no more trusted because of political instability in the EU, as well policy of the European Central Bank. The Brexit has also influenced. By the way, despite Britain’s launching procedure of the exit from the EU, the majority of world banks consider the UK as the most reliable place for currency reserves.

One more event in Europe may affect euro, analysts are sure. That is victory of Marine Le Pen at the presidential elections in France. In this case, the currency rate of dollar and euro will be equal. Such a forecast has been given by the Bloomberg agency given survey data of the leading economists. 23 out of 38 experts believe that the rate will be equal. 12 people said that it would make up 1.05 – 1 dollar for a euro. As Pravda.Ru reported, Marine Le Pen stands for exit of the country from the EU and return to national currency Pravda Report

Eurozone Economy: Central Bankers Love The Pound Sterling

More than two-thirds of the 80 central banks had changed their portfolio allocation, while roughly that same amount had changed the duration of their investments. Developing and emerging-market central banks, some of which are among the world’s biggest reserves holders, were more likely than those from advanced economies to have shifted out of the euro. The UK’s decision to quit the EU and its economy has not affected the popularity of sterling as an investment currency so far, with 71 per cent of respondents saying the attractiveness of the pound was undimmed in the longer term. Financial Times

Eurozone Economy: Central banks prefer pounds over euros even after Brexit

Eurozone Economy; Central banks Still Favour Pounds

Eurozone Economy: Currency Wars and the Race to the bottom

Eurozone Economy: Central Bankers Love The Pound Sterling

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