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Hot Topic (More than 5 Replies) Greece to exit the euro zone? (Read 3198 times)
moggy1923
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Re: Greece to exit the euro zone?
Reply #7 - 13. May 2011 at 02:29
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PeterL, maybe what you should ask is what the Real Greeks think and how are effected by the situation & feel about it?

For that you will need a Greek speaker, I recall a senior banking chap on Crete radio speaking a week or 2 ago, who explained it in simple terms so people understod, I think he was from Chania bank,  the ch in English looks like X in Greek
  
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scooby
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Re: Greece to exit the euro zone?
Reply #6 - 12. May 2011 at 16:45
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Of course I understand that people will suffer. There are people who suffer everyday of their lives because of bad governing.
  
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PeterL
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Re: Greece to exit the euro zone?
Reply #5 - 12. May 2011 at 14:01
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Lol. It might be fine in the end but that needn't mean hundreds of thousands of people don't suffer in the meantime. : P

For me I think the bailouts are a good thing - given that the alternative is default and people across Europe losing their savings in the ensuing shockwave.
  
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scooby
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Re: Greece to exit the euro zone?
Reply #4 - 12. May 2011 at 13:25
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All through recent history there have been recessions and Greece have defaulted many times before. I don't see anything new, even the UK had to devalue the pound when bankrupt, but the way I see it is that things equal out and which ever way Greece decides to go.....in the end it will be fine.
« Last Edit: 12. May 2011 at 13:26 by scooby »  
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daveellen
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Re: Greece to exit the euro zone?
Reply #3 - 12. May 2011 at 08:26
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Yes there will be defaults - if yor interest payments are greater than your GDP there isn't much choice. The only way to get out of the spiral is either devalue currency [can't do that while in the Euro] or someone [the banks] takes the hit.
Or we have an annual "will Greece default/leave the Euro" round of 'news' stories.
It will need a long term fix as Greece needs not only structural but cultural changes to continue to balance the books and economists do not/cannot take 'people' into account.
  
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moggy1923
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Re: Greece to exit the euro zone?
Reply #2 - 10. May 2011 at 15:49
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PeterL you seem to be another one adding RUMOUR!

To be clear Greece is one of several EU countries with financial concerns.

As a UK Citizen in the EU, I wonder why we contribute so much money to non-European Countries?
  
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latsida
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Re: Greece to exit the euro zone?
Reply #1 - 10. May 2011 at 15:09
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pound to the euro around 1.13/1.14, the same as the last few weeks
" dropped like a stone?" that would be a result Cool

we are also not Crete Emigrates we are Crete Immigrants Wink

http://www.ekathimerini.com/4dcgi/_w_articles_wsite1_1_10/05/2011_390296
plus a bit of good news

http://www.ekathimerini.com/4dcgi/_w_articles_wsite2_1_10/05/2011_390348
« Last Edit: 10. May 2011 at 19:07 by latsida »  
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PeterL
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Greece to exit the euro zone?
09. May 2011 at 17:04
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Hi all,

Doubtless youve heard the rumours over the weekend that Greece is about to default on its debts. The euro for instance dropped like a stone at the end of last week.

But I wondered - what do you think about it all as Crete emigrates? Should Greece default or accept a new bailout from the EU? How has this affected your lives in Crete?

Ive written an article about this issue here:

http://www.purefx.co.uk/market_commentary/greece-to-exit-the-euro-zone/

Itd be great to hear from you!

Peter
  
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