{"id":25833,"date":"2023-09-09T23:59:51","date_gmt":"2023-09-09T23:59:51","guid":{"rendered":"https:\/\/berkshiredoulas.com\/?p=25833"},"modified":"2023-09-09T23:59:51","modified_gmt":"2023-09-09T23:59:51","slug":"humiliation-for-macron-as-huge-french-bank-tells-customers-to-move-money-to-uk","status":"publish","type":"post","link":"https:\/\/berkshiredoulas.com\/world-news\/humiliation-for-macron-as-huge-french-bank-tells-customers-to-move-money-to-uk\/","title":{"rendered":"Humiliation for Macron as huge French bank tells customers to move money to UK"},"content":{"rendered":"

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Customers of one of France’s biggest banks are being told to back Britain and move their money “out of the eurozone”, in the latest embarrassment for Emmanuel Macron.<\/p>\n

BNP Paribas, a French multinational bank, is insisting that the British economy is performing better than expected, as the Euro continues to be at risk of collapse.<\/p>\n

As a result, clients are being urged to invest into the UK stock market – arguing that a “cheap pound”, among other things, are making Britain a more promising place to invest than the failing eurozone.<\/p>\n

Top analysts at the bank – which employs around 193,000 people worldwide – have switched their preferences from the eurozone to the UK, which is a welcome boost for the London stock market after a mass exodus of investors in recent years.<\/p>\n

This will likely result in rich investors following experts’ advice and shifting their money into some of the largest UK-listed companies.<\/p>\n

READ MORE: <\/strong> Emmanuel Macron left red-faced at Rugby World Cup as thousands of fans boo him[LATEST] <\/strong><\/p>\n

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Viktor Hjort, the head of credit research, told The Telgraph: \u201cThe outlook for UK equities is not bad at all. The FTSE is a value market. It has lots of energy and materials and a lot of banks. You can look at the oil price to see where energy is going.\u201d<\/p>\n

Writing for Express.co.uk last month, top banking expert Bob Lyddon explained how the collapsing Euro is riskier than ‘gambling on Bitcoin’ at the moment.<\/p>\n

As the EU debt is now much worse than Britain’s as a percentage of GDP, there are serious questions over where the reserves to sustain the Euro will come from.<\/p>\n

The economic woes, which were only worsened by lockdowns during the coronavirus pandemic, have meant the eurozone has already gone into recession, unlike Britain.<\/p>\n

It comes as City of London corporation revealed its ‘post Brexit boom plan’ – which promises a huge \u00a3225billion boost to the UK economy if successful.<\/p>\n

The unwelcome news for Emmanuel Macron comes as last night he was booed by thousands of rugby fans at the World Cup opening ceremony.<\/p>\n

In recent months, he has come under fire for failing to control the migrant crisis, with small boat crossings continuing to rise despite neighbouring Belgium coming close to stopping them entirely.<\/p>\n

And earlier this summer, desperate Macron was forced to take extreme measures after huge protest erupt after a 17-year-old French-Algerian national was shot dead by police during a traffic stop.<\/p>\n

BNP Paribas’ head of research Viktor Hjort added: \u201cWe think this kind of environment is quite favourable to value investing in general as opposed to growth. The UK is a pretty good example of that.\u201d<\/p>\n

Economists at BNP Paribas say the UK economy has proven to be “far more resilient” than expected – even though Britain is widely tipped to fall into a mild recession in the first half of 2024.<\/p>\n

But the eurozone is facing the devastating prospect of a double dip recession – which would spell disaster for the European Union.<\/p>\n

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Source: Read Full Article<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Customers of one of France’s biggest banks are being told to back Britain and move their money “out of the eurozone”, in the latest embarrassment for Emmanuel Macron. 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