Sterling Euro Rally as Greece problems come to light - how many more economies in the Eurozone are in the same situation???

Sterling has had a great day against the Euro in early morning trading mainly due to problems in Greece looking like a major concern for investors and it poses the question - With Greece first to step forward and announce such problems who will be next and how many other economies in Europe may also be facing the same problems??

Greece's trade deficit is currently around 12% and they need to have this down to 3% in keeping with Euro Zone requirements.

Italy and Spain may well be next looking at recent figures which may well lead to further Euro weakness.

So far this morning we have seen inflationary data for the U.K all come out slightly higher than expected alongside some minor house price data also better than expected.

The way to conquer high inflation is to raise interest rates and an interest rate hike is generally seen as positive for the currency directly linked with that economy so with the markets moving on rumour as well as fact this may lead to further Sterling strength.

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