European economic 'stability' may prompt money transfers

Overseas investors who are looking to acquire assets by making money transfers to Europe may be pleased to hear that its financial markets are becoming more stable, according to industry experts.

Speaking to the European parliament, Luxembourg's finance minister Jean-Claude Juncker recently expressed his optimism that countries on the continent may be benefitting from stronger economies.

However, Mr Juncker pointed out that in order to maintain stability, financial institutions ought to be issued rules that reduce the likelihood of them overspending, as this could put the recovery in jeopardy.

"Today I can say that the situation has broadly stabilised," he said.

"The scope of the deficits requires the drafting of a realistic and ambitious consolidation plan."

Meanwhile, foreign exchange specialist Lee Wai Tuck recently told Bloomberg that the strong euro may lead to fewer exports from the continent, as buyers look elsewhere for more affordable deals.

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By John Mills