Corporate foreign exchange news

Published by Jamie JemmesonThe future of the euro is in question because of the eurozone's fundamental flaws, according to hedge fund billionaire George Soros.Writing in the Financial Times, he argued that the eurozone may be able to rescue the Greek economy but the future of the foreign currency could be in doubt."A makeshift assistance should be enough for Greece, but that leaves Spain, Italy, Portugal and Ireland. Together they constitute too large of a portion of euroland to he helped in this way," Soros wrote. "The survival of Greece would still leave the future of the euro in question."He raised questions about the stability of the eurozone should another financial crisis hit in the future and suggested "more intrusive monitoring" and "institutional arrangements for conditional assistance" could help single-currency economies.Mr Soros's comments come as the euro hovers close to a nine-month low against the dollar at around $1.36, due in part to ongoing concerns over how the EU will tackle Greece's economic problems.For competitive rates and commission free travel money, visit our Travel FX site