What's wanting a curry got to do with mozzies? You should know that by now all topics meander on to other subjects, just as conversations do. It's the way of the world!!!
Message posted by Barrow Boy on 15 September 2011 at 9:36pm - IP Logged
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Going back on topic, the dinosaurs died out waiting to see whether Greece would default and what would happen to the euro.
In anticipation of Greece leaving the euro, I have avoided moving funds out to my Greek bank account, in the expectation that a conversion of Greek euros to the drachma, followed by an immediate de-valuation of the drachma, would leave me seriously short changed.
Yours trying to adapt to change but maybe I have the wrong end of the stick?
BB.
Message posted by jrk on 19 September 2011 at 6:14pm - IP Logged
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"The International Monetary Fund (IMF) has told Greece it needs better tax collection and deeper spending cuts, not higher taxes, to avert its crisis.
The warning comes as Greece prepares for further funding talks with the IMF, the European Central Bank (ECB) and the European Commission. It is trying to persuade them to release the next 8bn-euro (£7bn, $11bn) instalment of its EU-IMF loan. Greece needs this money by next month to avoid defaulting on its debt".
One half of me agrees, saving me property tax. But the other half says that that this would this result in poorer services such as road repair, education, medical services, not good. Which option should Greece go for?
Message posted by Sid Ari on 20 September 2011 at 2:01pm - IP Logged
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Quote: Originally posted by Barrow Boy on 15 September 2011
Going back on topic, the dinosaurs died out waiting to see whether Greece would default and what would happen to the euro.
In anticipation of Greece leaving the euro, I have avoided moving funds out to my Greek bank account, in the expectation that a conversion of Greek euros to the drachma, followed by an immediate de-valuation of the drachma, would leave me seriously short changed.
Yours trying to adapt to change but maybe I have the wrong end of the stick?
BB.
Maybe you should read this from the Athens News on what may well happen if Greece defaults :
As Viliardos points out, an official “credit event” would disrupt an extremely fragile domestic economic deadlock.
To avert social chaos, looting and a run on Greek banks by desperate depositors, a declaration of default must necessarily be coupled with a mandatory “bank holiday” for a few days.
This would be followed by strict limitations on deposit withdrawals (of, for example, up to 150 euros per week for each account).
Message posted by trisa on 20 September 2011 at 3:19pm - IP Logged
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I think what is scary having just returned from 2 weeks in Sidari is the fact that many Corfiot/Greek people will have a seriously bad winter and I am not refering to the weather. Food prices are crazy and to have 23% VAT on drinks including orange and milk and other food is beyond a joke and even water is not kept out of it albeit at a lower rate. Petrol prices higher than the UK as well.
We saw many people begining to plow their land which according to one Greek friend shows just how serious the situation is on Corfu with the tax rises.
House building is almost at a standstill and many people who would normally work in the building industry in the winter months having no work at all, that coupled next year with more "All Inclusive" places will hit more Bars and Tavernas and may well mean they will close down joining those already closed.
Having looked through a brochure produced by an estate agency in Corfu town last week it is clear that many people who built quite large houses with pools in the last 10 years or so are desperate to sell now that the New Tax laws are begining to bite.
The sad thing is that the Greek government may well be pricing people on Corfu out of their own Island and tourism may well drop heavily due to the increasing costs.
Message posted by Sid Ari on 20 September 2011 at 5:26pm - IP Logged
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Didn't I read somewhere that Germany wanted islands from Greece in exchange for the debt? Might they want Corfu? (a bit tongue in cheek but, you never can tell)
Message posted by Sid Ari on 20 September 2011 at 5:51pm - IP Logged
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Greece since 1974 has only made progress when external creditors have put pressure on Greece to bring its finances, or the appearances of its finances, under control - normally to meet some kind of deadline - like EU membership in 1981 and EMU membership in the late 90s - other than that it has been business as usual - whether you voted for PASOK or Nea Democratia - for the Papandereou Clan or the Karamalis clan - its was all about dishing out the spoils of the state to your voters - it was always the same - in return for the ever expanding public service numbers and payroll bill and the virtually non-existent tax collecting services - the Greek people allowed their politicians do what they wanted personally - the Greek spending of EU funds during the 80s and 90s was an international scandal - Greece has always been top of the heap when it comes to deficit - it just goes on and on.
Where does Greece go from here? - a situation they have arrived at time and time again in their history - each time believing that some foreign fairy godmother is going wave a magic wand in the nick of time and they can go off partying again - I dont think it is going to happen this time...they really are running out of road - they will have to really resolve to turn over a new leaf this time and take their medicine - in the euro or out of the euro - default or not.
Their main issue is that Greece has no longer got any major military or geo-political significance any more - there is no reason for any imperial or cold war patron to bail them out of the financial hole they are in this time. Even the Norwegians have suspended their aid programme to Greece - all 50 million of it - these were the reasons for British, Western European and American financial rescues before.
Message posted by janmanessi on 20 September 2011 at 6:09pm - IP Logged
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