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THE euro could fall this week as the outcome of the March 15th Dutch election threatens to cast more doubts over the future of the EU.
Although last week’s European Central Bank (ECB) meeting gave the euro a boost, uncertainty about the next Prime Minister of the Netherlands has unsettled the currency.
Recently the euro was able to hit multi-week highs against the pound and US dollar as investors judged that the odds of an election victory for Dutch populists had fallen.
Much of the election coverage has revolved around Geert Wilders, leader of the Party of Freedom, who has seen his popularity rise in recent months thanks to a growing wave of nationalism and anti-Islam sentiment across the Netherlands.
A victory for his PVV party would likely see him withdraw the Netherlands from the European Union.There is also speculation that a PVV triumph would embolden French voters to back far-right Presidential candidate Marine Le Penn in elections beginning next month.As Le Penn wants to withdraw France from the Eurozone, such an outcome would present a very real threat to the euro.
Although last week’s European Central Bank (ECB) meeting gave the euro a boost, uncertainty about the next Prime Minister of the Netherlands has unsettled the currency.
Recently the euro was able to hit multi-week highs against the pound and US dollar as investors judged that the odds of an election victory for Dutch populists had fallen.
Much of the election coverage has revolved around Geert Wilders, leader of the Party of Freedom, who has seen his popularity rise in recent months thanks to a growing wave of nationalism and anti-Islam sentiment across the Netherlands.
A victory for his PVV party would likely see him withdraw the Netherlands from the European Union.There is also speculation that a PVV triumph would embolden French voters to back far-right Presidential candidate Marine Le Penn in elections beginning next month.As Le Penn wants to withdraw France from the Eurozone, such an outcome would present a very real threat to the euro.
