Euro or GBP Savings account

halfob1

I'm interested in your thoughts as to wheter it would be worthwile putting about £20k savings into a GBP savings account or whether a Euro savings account is better for a period of 1-2 years.

The Euro savings accounts have lower interest rates, but the Euro could strengthen against the Pound over the next couple of years.

The difference in the savings interest rate is about 1.5% between the Euro and Pound rate.

Thanks
H

purch

I am not particularly confident in the prospects for the European single currency going forward

The Economic and Political situation in some of the current member states, and many of those who want to join doesn't look too clever to me.

The inherent weakness of the system in that there is no flexibilty could come back to haunt it. :eek:


Other than that it's probably a good idea :cool:

McSaver

Your staking £20K on the forex pretty much with doing something like this... the pound could be worth 1.5 euros and you would lose out. but again it could be worth 1.2 euros and you would gain. If your not willing to risk £20K on an euro exchange rate in 2 years time then its best just to leave it in an UK Savings account.