Greece - Time to go maybe

[Marsupial]

We recently booked with Messolonghi to stay next winter. Were very impressed with the marina.

they just opened the second shower/toilet block and the facilities were as good if not better than most marinas I have been in.

Ahh the new shower block, when you shower hope no one flushes a toilet, because as they do "water?" rises up from the shower drains.

we agree the town is great

 

[maxi77]

€700 Million Removed from Greek Banks in the last 24 hours !!!

And that I suspect is just the beginning. If the Greeks do vote to leave the Euro I suspect the Drachma will make the Turkish Lira look like a hard currency.

 

[rivonia]

Hmm The drachma IS a hard currency-is'nt it? Certainly it is the Billionaires who are spending it- Only joking!

We moved our € out of Cyprus and back to £, just in case.

I don't think that Greece will leave the EC but am a tad worried re the €.

We watch with interest.

Peter

 

[somerset]

And that I suspect is just the beginning. If the Greeks do vote to leave the Euro I suspect the Drachma will make the Turkish Lira look like a hard currency.

+1.....

If this has been mentioned before on here then apologies but back in February Bloomberg had this:

Vodafone Sweeps All Spare Cash Out of Greece ‘Every Evening’

By Jonathan Browning and Amy Thomson

Feb. 9 (Bloomberg) -- Vodafone Group Plc is moving cash from Greece into the U.K. “every evening” and could bill in a different currency, mirroring efforts by GlaxoSmithKline Plc, WPP Plc and Reckitt Benckiser Group Plc to hedge against the European debt crisis.

Asked about the possibility of a Greek default, Chief Financial Officer Andy Halford said on a conference call today that “it’s obviously something we’ve been having a close look at.” Vodafone, the world’s biggest mobile-phone company, is also looking at billing in a different currency “if the situation arises.”

The cash sweep by Newbury, England-based Vodafone shows how U.K. companies are trying to protect themselves against potential writedowns and losses in countries using the euro. Drugmaker GlaxoSmithKline started repatriating cash held in most euro-area banks early last year. WPP Finance Director Paul Richardson said yesterday that the biggest advertising company rounds up excess euros from its banks in Europe and moves them to the U.S. where they are exchanged for dollars every day.

“What would happen if the guillotine were to come down?” Richardson said in an interview. “Everyone has had a very close look at in-country arrangements and people have taken legal advice,” he said, adding that WPP “feels reassured that we’re in as good a position as we could be if one of the countries had a massive writedown.”