20k euros - what to do?

Hi,

I've currently got 20k euros, 17k of which are in a savings account that gives me an interest of 1.75%.

I was planning to wait until the euro would gain against the pound a bit more, and then convert them into pounds.

Now that the euros has fallen, I'm not sure what to do anymore.

Any suggestions?
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  • buy hospitality tickets for the Champions League Cup Final 25th May at Wembley online, invite a bunch of your mates and have ball! :T
    If it takes a man a week to walk to walk a fortnight how long does it take a fly with tackity boots on to walk through a barrel of treacle?
  • innovate
    innovate Posts: 16,217
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    Donate it to Cyprus.
  • thesaver79
    thesaver79 Posts: 189 Forumite
    Any more advice? Maybe a bit more insightful? ;)
  • bigadaj
    bigadaj Posts: 11,531
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    If you don't want stupid answers don't post a stupid question.

    The only sensible question appears to be regarding the outlook of the euro sterling exchange rate.

    Thats purely opinion but you could check forex markets for projections and make a decision based on that. To me the euro still looks massively over valued, though the British and us economies have their problems, if it were me and I was looking at it from he uk I would exchange into sterling as soon as I could.
  • kidmugsy
    kidmugsy Posts: 12,709
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    I'm a bigger fan of gold than is common hereabouts.

    All fiat currencies end at zero.
    Free the dunston one next time too.
  • thesaver79
    thesaver79 Posts: 189 Forumite
    What about investing in a EUR fund?
  • grey_gym_sock
    grey_gym_sock Posts: 4,508 Forumite
    how long before you'll want to spend/use the money? (i.e. is it long enough for investing to be a sensible option?)

    and do you expect to spend it in pounds?
  • thesaver79
    thesaver79 Posts: 189 Forumite
    how long before you'll want to spend/use the money? (i.e. is it long enough for investing to be a sensible option?)

    and do you expect to spend it in pounds?

    I'd be happy to commit to a 5-10 years investment at least.
  • Voyager2002
    Voyager2002 Posts: 15,244
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    Buy shares in German companies. My investment there (via a Mutual Fund) has just paid a dividend for the first time in three years. German business is still very strong and exporting around the world. The low Euro helps their exports, and if the Euro were to break up for some reason then the new German currency would shoot up so that the value of assets in Germany (in pounds or dollars) would also increase dramatically.

    If you can afford the chance of losing the money, perhaps now is the time to buy Greek or Italian debt paper (bonds). Those bonds are clearly not first-rate investments, but they are probably worth more than the present market price.
  • thesaver79
    thesaver79 Posts: 189 Forumite
    If you can afford the chance of losing the money, perhaps now is the time to buy Greek or Italian debt paper (bonds). Those bonds are clearly not first-rate investments, but they are probably worth more than the present market price.

    And being Italian I hope we won't default :)
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