Quote: Originally posted by openside on 17 September 2008
As here in the UK its as if the world is about to fall of the end of a cliff!!!
And nobody knows where its all going to end (or maybe they do and they just aint telling)
Still musnt grumble :-)
Just How bad is it
Last week my Brother was given Notice from the Abbey National (part of Santander). He was gob smacked- Virtually the whole place in Liverpool will be closed down
Last night,I got notification that my Customer wants to re-structure and are looking at losing many key staff on the contract I work on/manage.
I do believe the situation is very bad
Message posted by dogbones on 18 September 2008 at 12:07pm - IP Logged
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We will have to take things as they come, it is probably no comfort to some but, every cloud has a silver lining.
This year, I was going to scrub my September visit to the island, but despite losing money to XL, I can happily say that I changed my mind and will arrive next Tuesday.
The Greeks and all other nations will make the best of what comes their way, it has always been so.
We must dig in our heels and be brave.
ps.....'During the war.........'!!
Message posted by baywatcher on 18 September 2008 at 1:15pm - IP Logged
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baywatcher
Not noticed it here with the prices yet but the season has been quite slow and many places closing earlier than before, maybe the knock on effect from the XL collapse will make a difference next year.
Regards Denise
Message posted by StevenM on 18 September 2008 at 3:02pm - IP Logged
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I think our media and some parts of the press seen to thrive on bad news.
Things are bad but the press/media are talking us into a much worse situation. There are a lot of worried HBOS people up here in my home city of Edinburgh at the moment and doesn’t help when it’s reported that up to 40,000 jobs could go as part of the merger, these figures are unfounded and cause a lot of anxiety.
I’m sure that things will get better soon for both us and not forgetting our Greek friends who are already feeling the pinch and will probably have a even harder time next year.
Anyway I’d better get off my soapbox before I fall off……
Regards
Steven
Message posted by kerkyra on 18 September 2008 at 3:15pm - IP Logged
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Agree Steven,
The Media always makes a mountain out of a mole hill.
Ok the world's economic markets are on a downward trend but i still believe that it wont be as bad as the media makes out.
Anyway i and my family/friends will always continue to support the people of Corfu, and even if i have to sell the big issue, or jump through bigger hoops at work, will still make my annual pilgrimage to the island.
Andy.
Message posted by StevenM on 18 September 2008 at 3:28pm - IP Logged
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No matter how bad things get I will always find a way of getting to Corfu and supporting the locals.
I’ve already told my partner that if things get bad
A) The house goes
B) The car goes
C) She goes (Ouch!! only joking, She will kill me if she reads this )
…..before I give up my holiday in the sun
Best Regards
Steven
Message posted by kerkyra on 18 September 2008 at 4:07pm - IP Logged
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Very Good.
Luckily we have paid our mortgage off.
But are planning on buying a property in Corfu (part deposit/part Euro mortgage)in the next year.
So will keep watching the euro etc.
Cheers.
Andy.
Message posted by openside on 19 September 2008 at 7:27pm - IP Logged
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The roller coaster continues, HBOS almost go bust and are forced to merge with Lloyd's, shares plunge then they ban short selling and an end to the Hedge funds activities and shares have their biggest daily rise ever!!!
Does anyone understand what goes on in the financial markets?
Im just glad I have no mortgage and already have a house in Greece .........the council rates are killing me though!
Message posted by Colette on 19 September 2008 at 9:40pm - IP Logged
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Quote: Originally posted by openside on 19 September 2008
The roller coaster continues, HBOS almost go bust and are forced to merge with Lloyd's, shares plunge then they ban short selling and an end to the Hedge funds activities and shares have their biggest daily rise ever!!!
Does anyone understand what goes on in the financial markets?
Im just glad I have no mortgage and already have a house in Greece .........the council rates are killing me though!
HBOS were not going bust! their share prices fell beacause the media and other various sources started rummors,
HBOS was stable and had the funding to continue as a strong bank.
The only concern in HBOS was the morgage sector of the business as it is the largest morgage lender in the UK and becasue house prices were falling! However they were still in a stable position here.
HBOS were forced to merge with LLoyds becasue the public had starting losing faith in the companys reputation because of all the "rumors", they had to do something to restore the customers faith!
The majority of the UK's problems with the credt crunch all stems from America............which has been going on for years because people were taking out far too much credit!
The media made this situation 100 times worse and made the public panic!!
Anyway things are going to get worse before they get better! and just hope this "credit crunch" has reached its peak!!
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(Ouch!! only joking, She will kill me if she reads this 
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