10 New Countries Join the EC

Dannyboy | 21:14 Wed 10th Mar 2004 | News

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What the 10 new countries join the EC on 1st May will it affect the Sterling to Euro exchange rate? Don't know whether to get my holiday money now or wait.

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BadBob

As far as I know joining the EC is not an automatic entry into the EMU. I don't know one way or the other but I don't think the new joinees will be joining the EMU just yet. Entry into the EMU would need to be able to handle such entries without a major impact on the value of the currency so I would say it makes little difference. What I would do is buy half now and half nearer the time, that way you would get an good average and if things went down wouldn't lose out too much but if they went up you could get a bit extra without risking all of it.

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