Brits oblivious to euro crisis

14 May, 2015

With over half of the UK population planning one or more European holidays this year, new research from pre-paid currency card company, Caxton FX, reveals that Brits are clueless when it comes to their knowledge of the current state of the Euro. Over half (52 per cent) did not feel that instability within Europe would affect the strength of the Euro, and just 13 per cent admit they have taken advantage of the weak Euro and booked more holidays in Europe this year.

While the Greek crisis remains in the headlines and the Euro is at a seven year low, it appears that many Brits remain entirely unaware of what is happening across the channel. According to the findings, 37 per cent do not know what is currently happening with the Euro and 29 per cent reveal they simply do not care.

Despite the fact that a significant proportion of the population will be holidaying in Greece this year , 31 per cent of respondents admit to being oblivious of what is happening with Greece’s economy. In addition to this, only a third felt it was the perfect time to go to Greece due to the country being affordable.  Moreover 1 in 10 (11 per cent) did not think that the strength of the Euro would be affected by the disputes happening within the Eurozone.

Managing Director of Caxton FX, James Hickman, said:The instability in the Eurozone has been a blessing and a curse for those travelling abroad to European countries in the last few years. The instability in the Eurozone has meant the Euro has lost a good portion of its value, rendering the pound and dollar more valuable when compared to the Euro, which is good news for those exchanging sterling or dollars. However, the heightened state of uncertainty has made it risky travelling to, or planning a trip to Greece, as the Greek ATM’s may stop issuing euros if the Eurozone falls apart and there is a bank run.”