In recent weeks the Eurozone crisis has deepened due to the possibility of a Greek exit from the Euro increasing, the continued problems in Spain and even Germany facing a downgrade on the ratings of its Banks.
London, UK (Pryce Warner International Group) 1st of August, 2012 - Savers and Investors should now review how they can protect themselves, particularly with regards to currency fluctuations and what they can do if the Euro were to continue to lose value against other currencies or indeed if there was a collapse in the Eurozone.
One of the key things to note is to invest in globally & currency diversified investments. This allows individuals to make withdrawals when required in Euros without being exposed to the significant problems of the Euro and the Eurozone crisis. Investments of this type cane be denominated in the currency of the individuals choice.
This strategy of diversification means that even as some currencies experience weaknesses, this is offset by gains in others. Despite the Current Global Economic situation a professionally managed account has significant benefits for investors.
New market regulations are helping to ease some of the problems of the financial crisis, and some investment routes remain as reliable as ever. For example, guaranteed deposit rates offer a fixed rate of return over a short term (1-3 years) that consistently out-perform the interest rates offered by banks.
Despite the problems in the Eurozone, anyone living in Europe would be wise to hold onto some capital in Euros, as it is very difficult to predict what will happen and a total collapse of the currency is still unlikely.
In addition to this, cash held in Banks in all European Economic Area (EEA) countries is safe up to €100 000 per account holder, per bank - as long as the assets are held in a European currency and are held in the depositors name.
It is important to note however, that the compensation rules for offshore banking locations (such as Malta and Guernsey) are different. Whilst compensation schemes exist there (usually up to £50 000 per accountholder, per bank), a legal minimum does not apply and compensation is dependent upon the resources of the scheme.
By Aneil Fatania
Pryce Warner International Group
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