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Ongoing thread about something that will effect us all !
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I wonder how long the Military will sit on their hands, especially if the potty left take over.
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They will probably have a quiet word with the Turks and ask them to act up a bit, providing ample excuse for the regular coup.
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...I wonder how long the Military will sit on their hands...
For as long as they are getting paid?
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Which might not be long - there are a lot of background issues - Cyprus is one, disputed islands in the Eastern Agean is another, the Turks are very, very well armed indeed and not averse to a bit of adventurism, however their own border with northern Iraq and Syria may be enough to keep them occupied.
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The nightmare scenario for Brussels is for the Greeks to leave the Euro (EU, even) and make a go of it - at least in terms of life not being quite so shockingly bad as it will be if they stay in the Euro.
Nothing must be allowed to upset the European Project - Brussels will take whatever action is necessary to undermine Greece if it leaves the Euro. They can't afford to have a country buck the trend towards "ever closer union" and encourage other countries in difficulty (Spain, Portugal, Ireland) that there is an alternative to this.
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Eh, I won't be buying a property in Greece, or Cyprus come to that, just fort I'd let y'all know.
:)
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Top tip in one of today's supplements (read whilst enjoying a coffee at Pete's Eats) - if you're holidaying in Greece this summer take some hard-currency with you, if they do drop out the Banks will shut for at least a week and ATMs and EPS systems will collapse.
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>> Top tip in one of today's supplements (read whilst enjoying a coffee at Pete's Eats)
>> - if you're holidaying in Greece this summer take some hard-currency with you, if they
>> do drop out the Banks will shut for at least a week and ATMs and
>> EPS systems will collapse.
I would suggest you don't cary Euros as your hard currency tho ;)
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>>>> I would suggest you don't cary Euros as your hard currency tho ;)
>> Dollars or even Pounds !
What is the point of taking Pounds to Greece? Where are you going to spend them?
Even if Greece does leave the Euro, it is not going to suddenly happen overnight. Business there will still take Euros for months while they convert over to, presumably, Drachma.
I wouldn't suggest converting your life savings to Euros at the moment, but your holiday money is safe.
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If greece leaves the euro, the euro will collapse in value, you won't want to be paying in them. Dollars will be king in situation like this, as it always is globally.
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>> If greece leaves the euro, the euro will collapse in value, you won't want to
>> be paying in them. Dollars will be king in situation like this, as it always
>> is globally.
It is very unlikely that Euro will "collapse" in value simply because Greece leaves.
It may well eventually be worth much less than it is now, even if Greece doesn't leave, but there is no reason to believe it would immediately crash if Greece does leave.
Certainly there could be an initial shock to the value of the Euro if they announced they were leaving, but not enough to make it worth your while to be carrying around dollars, and expecting that you'd be spending them rather than Euros.
This is all going to happen in slow-motion, rather than everything being OK on Monday, and suddenly people buying their olives with dollars and gold on Tuesday.
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I am going to Corfu for a week in October. I already paid for my flights, I have to pay my balance, for the hotel and in £s in July, and I am not too bothered about what currency I am going to use to buy my retsina and kebabs!
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>>Good interview between John Humphreys and his Greek resident son on the radio just now (R4 PM) - scary stuff. 2 Euro litre diesel, doubled in in twelve months<<
Ere tis: www.bbc.co.uk/iplayer/episode/b01h7crz/iPM_12_05_2012/
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The out-laws sold their villa in Northern Cyprus last year.......think they may have left at the right time
Still, Euro / £ rate becoming more favourable for those of us off to Spain in a couple of weeks :-0)
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I can't see that it matters much whether the euro has technically collapsed or not if the barman insists on dollars.
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If i was Greek and sympathetic Westerners offered to pay me quietly in Sterling or Dollars or Yen, i'd be very pleased to accomodate them, couldn't lose if they stay in, but likely to be quids in when the departure happens.
I imagine the black economy is more rife than ever there now, and good luck to those who do.
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>> If i was Greek and sympathetic Westerners offered to pay me quietly in Sterling or
>> Dollars or Yen, i'd be very pleased to accomodate them, couldn't lose if they stay
>> in, but likely to be quids in when the departure happens.
>>
>> I imagine the black economy is more rife than ever there now, and good luck
>> to those who do.
Well if it is happening in Athens, then it should be happening in Berlin and France too, because if the value of the Euro collapses it will affect the value of Euros held in Germany and France, just as much as those held in Athens.
So, if bar owners are keen to take your Yen for a bottle of Mythos in Corfu, then they should be equally keen to take it for a glass of Beck's in Hamburg or a glass of Merlot in Marseille.
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>> The out-laws sold their villa in Northern Cyprus last year.......think they may have left at
>> the right >>
>> Still, Euro / £ rate becoming more favourable for those of us off to Spain
>> in a couple of weeks :-0)
North Cyprus has nowt to do with Greece!
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It does for the Greek Cypriots who lived around Kyrenia and had their properties taken over by the Turkish invaders in 1974.
Last edited by: Meldrew on Sun 13 May 12 at 16:06
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War didn't work (X2) thanks to the Americans and Russians, the Euro didn't work, the EU is looking shaky, I wonder what United States of Europe scheme the politicians will try next?
Last edited by: Old Navy on Sun 13 May 12 at 20:26
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>> North Cyprus has nowt to do with Greece!
>>
Well if Greece goes bust , Southern Cyprus will as well... so there will be some knock on impact.
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If Greece does exit the Euro, it appears they are likely to have no electricity.
ftalphaville.ft.com/blog/2012/05/15/1000971/greece-when-the-lights-go-out/
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Rush dips in olive oil will do - just like the old days!
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Euro Crisis - Volume 2. - R.P.