Is Greece wincingly expensive now?

I'll be back!

The Ionian ticks lots of boxes for us and as long as nothing untoward happens, we'll certainly be back mext year. Yes, it was a little more expensive this year to eat out, so we simply ate on board at times, however the local economy needs tourist financial imput. We feel privelidged to be in a situation where we are able to sail out there 3 months of the year and enjoy the experience - which we don't expect to come at a knock down price. Anchoring comes free and the annual charges at the yards in Preveza are still extremely good value. You won't get any complaints from us!
Anybody got any ideas about what will happen if Greece defaults on their debt and leaves the euro?
 
cynthia said:
The Ionian ticks lots of boxes for us and as long as nothing untoward happens, we'll certainly be back mext year. Yes, it was a little more expensive this year to eat out, so we simply ate on board at times, however the local economy needs tourist financial imput. We feel privelidged to be in a situation where we are able to sail out there 3 months of the year and enjoy the experience - which we don't expect to come at a knock down price. Anchoring comes free and the annual charges at the yards in Preveza are still extremely good value. You won't get any complaints from us!
Anybody got any ideas about what will happen if Greece defaults on their debt and leaves the euro?
Click to expand...

Not If but when.
An inevitable withdrawal from the Euro will follow. But this is not up to the members of the Euro to decide, its up to Greece.

Some of the likely actions on default will be things like a restriction on the cash one can withdraw from a Greek bank - and therefore the hole in a wall. Then the shengan border agreement will be suspended, presumably to stop suitcases of money crossing the boarder.

An Interesting article in De Spegel shows the changing attitude of the Germans and Euro partners. They are at the moment buying time so that they can ensure that French and German banks will be ok.

http://www.spiegel.de/international/europe/0,1518,785690,00.html

100 to 1 default will happen, then will they pull out of the Euro? They won't have much option.

Oh dear - we will be out there Friday for 3 weeks. Memo to self - take loads of euro cash - glad I installed a safe on the boat. Perhaps some profits to be made on the black market when it happens....... - double the cash to take....
 
Thanks

Thanks for the link. Will also be interesting to see the French line for continued intervention or not. Sarko is up for election shortly and is not exactly flavour of the month, the banks here in France are taking a major hit on the stock market etc. Certainly wouldn't bet against Greece defaulting and leaving the euro especially after reading the article.
Really tough on the locals in Greece who have already taken a 20% cut - they told us they work to exist - nothing left over for leisuretime pursuits etc.
Enjoy your hols - looks as if you may be there at an interesting time!
 
I've never believed, from the beginning of the "Greek crisis" that there was any chance of the Greek economy paying off its original debt, never mind the €millions of additional loans.
The debacle will probably come at the end of October when the government will run out of money, the unpaid civil servants and nationalised industry workers come out on the streets and, possibly, the army will have to restore order.
I fear, having been a keen supporter of the €pean experiment, that the greatest likelihood is that the "strong" bloc (Germany, the Netherlands, Scandinavians) will break away into a new currency leaving the € to devalue and save the Mediterraneans from their own excesses.
The political will, to preserve the €, is manifestly failing in the "strong" bloc. The actions taken so far will founder on the Greeks and Italians lack of political will or ability to put their own houses in order.
The Greeks, as a nation, behaved like a family, used to a tight weekly-wage budget, being given an unlimited credit card.
 
charles_reed said:
I've never believed, from the beginning of the "Greek crisis" that there was any chance of the Greek economy paying off its original debt, never mind the €millions of additional loans.
The debacle will probably come at the end of October when the government will run out of money, the unpaid civil servants and nationalised industry workers come out on the streets and, possibly, the army will have to restore order.
I fear, having been a keen supporter of the €pean experiment, that the greatest likelihood is that the "strong" bloc (Germany, the Netherlands, Scandinavians) will break away into a new currency leaving the € to devalue and save the Mediterraneans from their own excesses.
The political will, to preserve the €, is manifestly failing in the "strong" bloc. The actions taken so far will founder on the Greeks and Italians lack of political will or ability to put their own houses in order.
The Greeks, as a nation, behaved like a family, used to a tight weekly-wage budget, being given an unlimited credit card.
Click to expand...


An Interesting table to look at is the GDP per capita. It shows Greece way up in the table at €27K per head. Portugal at €23K, UK at €35K, Itally at €27K, Cyprus €27K (the next basket case) Croatia €18K, Portugal €23K, Ireland and Iceland around €38K.

http://en.wikipedia.org/wiki/List_of_countries_by_future_GDP_(PPP)_per_capita_estimates

These figures perhaps put in a nutshell what has happened in Greece. They built their whole GDP on borrowed money. Surprising (not really) that Ireland and Iceland are way up in the table. At least Ireland has some exports to work on.

Reports on Taxation collection - One business sector (including major hotels) has only collected €18,000 of VAT in the last 6 months........

Privatisation - Central Generating company DEI - the Germans walked away. Helenic Oil Company is just the same: Viz

It is a worker's paradise. The company's 2,500 employees receive the equivalent of 17.8 monthly salary payments in a year, 3.4 of which count as "productivity bonuses." The average yearly salary is between €65,000 and €70,000, according to official figures. Drivers and doormen make an impressive €90,000, a fact that left one of Helpe's top managers "a bit surprised" when he took his own post at the company, he said. Meanwhile chairman Giannitsis said the high wages are justifiable because of "very specific business and the major dependency on international price and profit margins" in the oil industry. Besides, personnel costs account for "less than three percent" of turnover, he said.

Place your bets on Cyprus following at the same time......

Both have demonstrated that they have a busted system, less tax revenues raised this year than last, Privatisations that are so disorganised and unattractive, and a new Property tax.... They cannot even collect VAT.

Charles - I think end of September may be more likely.... It will happen just as soon as Germany and France have protected their banks.......
 
Are none of you concerned that financial "disruption" in Greece and it's banks could lead to bankrupt boatyards!? I suppose they can charge in any currency they like if they have offshore accounts. Would it be only the poor who would return to the "drachma"?
 
And another way of looking at it...

From The Telegraph
By Ambrose Evans-Pritchard, International Business Editor

7:35PM BST 11 Sep 2011

First we learn from planted leaks that Germany is activating "Plan B", telling banks and insurance companies to prepare for 50pc haircuts on Greek debt; then that Germany is “studying” options that include Greece's return to the drachma.

German finance minister Wolfgang Schauble has chosen to do this at a moment when the global economy is already flirting with double-dip recession, bank shares are crashing, and global credit strains are testing Lehman levels. The recklessness is breath-taking.

If it is a pressure tactic to force Greece to submit to EU-IMF demands of yet further austerity, it may instead bring mutual assured destruction.

"Whoever thinks that Greece is an easy scapegoat, will find that this eventually turns against them, against the hard core of the eurozone," said Greek finance minister Evangelos Venizelos.

Greece can, if provoked, pull the pin on the European banking system and inflict huge damage on Germany itself, and Greece has certainly been provoked.

Germany’s EU commissioner Günther Oettinger said Europe should send blue helmets to take control of Greek tax collection and liquidate state assets. They had better be well armed. The headlines in the Greek press have been "Unconditional Capitulation", and "Terrorization of Greeks", and even “Fourth Reich”.

Mr Schauble said there would be no more money for Athens under the EU-IMF rescue package until the Greeks "do what they agreed to do" and comply with every demand of `Troika' inspectors.

Yet to push Greece over the edge risks instant contagion to Portugal, which has higher levels of total debt, and an equally bad current account deficit near 9pc of GDP, and is just as unable to comply with Germany's austerity dictates in the long run. From there the chain-reaction into EMU's soft-core would be fast and furious.

Let us be clear, the chief reason why Greece cannot meet its deficit targets is because the EU has imposed the most violent fiscal deflation ever inflicted on a modern developed economy - 16pc of GDP of net tightening in three years - without offsetting monetary stimulus, debt relief, or devaluation.

This has sent the economy into a self-feeding downward spiral, crushing tax revenues. The policy is obscurantist, a replay of the Gold Standard in 1931. It has self-evidently failed. As the Greek parliament said, the debt dynamic is "out of control".

We all know that Greece behaved badly for a decade. The time for tough love was long ago, when the mistakes were made and all sides were seduced by the allure of EMU.

Even if the Papandreou government met every Troika demand at this point, it would not make any material difference. Greek citizens already understand this, and they understand that EU loan packages are merely being recycled to northern banks.

Instead of recognizing the collective EU failure at every stage of this debacle, the creditor powers are taking out their fury on what is now a victim.

We have never been so close to EMU rupture. Friday's resignation of Jurgen Stark at the European Central Bank is literally a kataklysmos, a German vote of no confidence in EMU management. Dr Stark is not just an ECB board member. He is the keeper of the Bundesbank's monetary flame.

The vehemence of his protest against ECB bond purchases confirm what markets suspect: that the ECB cannot shore up Italian and Spanish debt markets for long without losing Germany.

"I look at what is happening in EMU and the words that spring to mind are total and utter disaster", said Andrew Roberts, credit chief at RBS. He thinks German Bund yields could break below 1pc in the flight to safety.

Citigroup and UBS both issued reports last week on the mechanics of EMU break-up, both concluding with touching faith that EU leaders cannot and will not allow it to happen.

"The euro should not exist," said Stephane Deo from UBS. It creates more costs than benefits for the weak. Its "dysfunctional nature" was disguised by a credit bubble. The error is now "painfully obvious".

Yet Mr Deo warns that EMU exit would not be as painless as departing the ERM in 1992. Monetary unions do not break up lightly. The denouement usually entails civil disorder, even war.

If a debtor such as Greece left, the new drachma would crash by 60pc. Its banks would collapse. Switching sovereign debt into drachma would be a default, shutting the country out of capital markets. Exit would cost 50pc of GDP in the first year.

If creditors such as Germany left, the new mark would jump 40pc to 50pc against the rump euro. Banks would face big haircuts on euro debt, and would need recapitalization. Trade would shrink by a fifth. Exit would cost 20pc to 25pc of GDP.

UBS concludes that the only course is a "fiscal confederation", a la Suisse.

Well, perhaps, but Germany's top court chilled such hopes when it ruled that the Bundestag's budgetary powers may not be alienated to "supra-national bodies". Nor do I believe that German society is willing to undertake such a burden for Greco-Latins in regions equal to six times East Germany.

Citigroup's Willem Buiter disputes the "federalism or bust" dichotomy, saying Anglo-Saxon commentators are trapped in the mental world of the Peace of Westaphalia in 1648, which established the sovereign state as pillar of international order.

"There is no recent, close analogue to the EU," he says. As a blend of national and supra-national, the EU resembles the Holy Roman Empire, which united central Europe from the 10th Century until Luther (technically until 1806).

Dr Buiter says the two "canonical models" for EMU break-up - that debtors walk out, or the German-led core walks out - are both are fraught with perils.

The weak would sell their souls for a mess of potage, discovering that devaluation can be an "uncontrollable process" with little lasting gain for exports.

If the German bloc left to create a "Thaler", the costs would be less. However, the rump euro would fall apart, with massive dislocations. "It would not be pretty," he says.

Ultimately, political investment in the EU project is by now too great to entertain such thoughts. The eurozone will muddle through along a third way, with spasms of debt restructuring kept within the euro-family. It will fall short of a transfer union or a debt pool, he said.

Each of these reports is a terrific read, but as an unreconstructed Westpahlian - and having covered a lot of NO votes to EU referendums - I don't accept that Europe has a teleological destiny towards closer union.

It has already pushed its ambitions beyond the tolerance of Europe's historic states and cannot be made democratically accountable.

The new fact of recent months is that German society has begun to discern a clash between its own democracy and the fiscal drift of EMU. The two are seen to be in conflict for the first time. Germans may be forced to choose. The outcome to that is far from clear.

Nor do I accept the headline figures of UBS. Every Treasury official and every voice of orthodoxy warned in 1931 that British exit from the Gold Standard would unleash the seven plagues. It proved a liberation. The UK, the Empire, and allied states broke free from a system that had become an engine of deflationary Hell. It cleared the way for monetary stimulus and recovery.

There is a close parallel between 1930s Gold and EMU, both in destructive effect and totemic sanctity. The Gold Standard was more than a currency system. It was the anchor of an international order and way of life.

My solution - like that of Hans-Olaf Henkel, the ex-head of Germany's industry federation (BDI) - is to split EMU into two blocs, with France leading a Latin Union that keeps the euro. This bloc would devalue but not by 60pc, yet uphold its euro debts intact. The risk of default and banking crises would decrease, not increase.

The German bloc could launch their Thaler, recapitalizing banks to cover losses from rump euro debt. Disruptions could be contained by capital controls at first. None of this is beyond the wit of man. My bet is that aggregate losses would be lower than the status quo, and the long term outcome much healthier. The EU might even carry on, unruffled.

The status quo, however, is not acceptable. EMU's debt-deflation strategy has trapped half of Europe in depression, with youth unemployment reaching 46pc in Spain and no way out for years.

Perhaps a global coalition of the G20, IMF, China, and the oil powers will combine to rescue Euroland, as some now hope. But how would that bridge the gap between EMU’s North and South? It solves nothing
 
tri39 said:
Are none of you concerned that financial "disruption" in Greece and it's banks could lead to bankrupt boatyards!? I suppose they can charge in any currency they like if they have offshore accounts. Would it be only the poor who would return to the "drachma"?
Click to expand...

I would think that the last thing that would go bankrupt in Greece are the boatyards. Many ask for cash - and we all know why. So no I am not concerned about that. However, I am concerned over the inevitable disruption to fuel supplies, transport etc etc which will effect us. You may also be in severe problems if you don't have cash as banks will stop dishing out € at once, and shut their doors to prevent cash flowing abroad - hence the suspending of the Shengan agreement and reinstatement of borders - they have enough port police to do it!

Will it happen - they are all saying NO, but they would wouldn't they, whilst they plan for an orderly default.......
 
The best possible outcome is a collapse of the EU and a return to what we joined - a free trade bloc based on the structures of the EEA.
 
In Assos the summer shop is being run by a maths teacher from Athens, 7 days a week, 12 hours per day. He needs it to get bye. A restaurant in Paxos is staffed by Bulgarian catering students who earn E10 per day each, plus bed and food. And still a lot of Albanians working at E40 per day. There are a lot of people out there who deserve a better break.
 
Let me try to give you a different view. I live on Kefalonia, in my area most bars, tavernas have struggled to keep costs down, the rents on some of these places are astronomical, a small Bar can be paying nearly 2000 euros per month on a commited 5 year lease, they have no escape route. Fiscardo can screw the tourist big time and seem to get away with it!
Eastern european or not, are working the bars because they are paid below the minimum wage. The Greeks have a two tier dole system, you work for two years before you can claim, now it could be three years, if you are a seasonal bar worker you get less than a jobseeker. My Greek friends who are not in business simply do not care if Greece defaults (they have had enough of austerity measures) they want the Drac back.
Greece has simply failed on a huge scale to collect money from the tax dodgers, so now the poor who sometimes have three jobs are asked to stump up more by a new property tax, even dea the electricity company have refused to collect this tax using electricity bills as a way of forcing payment, or your leccy is cut off.
One thing is sure, most of the Greeks work harder to survive than most people give credit for, in my opinion they work far harder than the dole scroungers from the uk, the people who paid no tax and the bent as a nine bob note back hander brigede are mostly to blame for the dilema facing Greece. rant over.
 
I don't pretend to know what is going on in the country I am passing through, or what the the greater consequences will be.....................But I met a very nice Greek guy on the next berth last week and he said if Germany paid Greece back it's war debt from WW2, they would just about break even on their current debit. When I told him we had him by the marbles he laughed like a drain................Thoroughly nice bloke on a nice Nicholson out of Gosport
 
whiteoaks7 said:
We've returned for september to cruise Corfu and the mainland opposite. First thing we noticed was 5 ltrs of fuel for the hire car cost 9 euros! Next was a general hike in restaurant food compared with May/June. Lastly, in Mongonisi last night we ran up a bill of E28 for two very spartan main courses (chicken and squid) and a half litre of house white (it was also the first time I've left a restaurant table here still hungry!). So is this the way it's going? More and more tax on a decreasing number of already impoverished tourists?
Click to expand...

This thread does seem to have gone off at a tangent rather from the original op’s questions. So firstly Greece is more expensive. Food, wine, beer, smokes and fuel, but imo not ridiculously so. Food and alcohol is a variable and can be sourced quite cheaply. Beer €1.08 a litre (Lidl), €16’s for a litre of 47.3% Gordon’s gin.(Port mini market Tilos), some acceptable wines from €2 for 1.5 ltrs.
Food, seek and you will find at reasonable prices. Cigarettes can be bought from €3.20/30 pack to €4/20 pack depending on brand, and these are at national fixed prices. Fuel is the bummer, that has got expensive with oil prices and extra taxes. €1.50 +/- a litre is around the norm for derv. I did see it for €1.38 pl on Rhodes. Gasoline is at €1.65 +/-. I don’t think the Islands are so much more expensive, but yes there is always the exception.

At present we are on Crete and the food prices are very favourable, it fact we’ve had top notch taverna meals and best priced for the quality of anywhere we’ve eaten in Greece, €12 +/- ph including a litre of wine and most times with appertiser and sweet thrown in. Taverna beers from €2 to €3.50 for 500ml depending on brand.

Tell me where else on the cruising circuits you can tie up alongside for 3 nights with free water and electric at €18.70 for a 15mtr s/y, all above board with the Sitia Port Police.

Please don’t knock Greece too badly, imo it’s still the cheapest place and the best cruising area in Europe. Compared with increases in other European countries and Greece’s problems, I think it fairs very well.

Off on the tangent now...... Greece does have problems and serious ones at that, all much written about on this forum (me in the past) and elsewhere. I think we all have stories to tell but I will try and keep my opinions brief.

Greece has suffered so badly this year with the austerity measures and tourist wise because of the strike situation. Tourists have stayed away with the worry of whether they would get here as planned or what they would turn up to with demonstrations and services.
The system here is totally corrupt and reform is crucial, the younger generation realise and most accept this.Things will never change until the will is there to do so by the majority of its people. So far the most damage has/is being done to the working class aspect of the people. Let’s at the moment not get into whether these jobs are worthy or invented, there still jobs with a wage that has been reduced by at least 20% at best and 30+% at worst.
People here are even working there normal jobs and there's not always a chance getting paid or running weeks in hand with their wages, complain they lose their jobs so no job and no chance of getting their money. It’s the wealthy that are in the position to tax evade and they do big style. All this is why most Greeks are pi**ed off and fight back and against the establishment.

Your in business and tax or vat is due, you dream a figure you want to pay, backhand a collector and poof the problem is sorted, all’s happy but a pittance goes into the coffers, and who joins the strikers, the tax/vat workers. There are too many wealthy people that tax evade and don’t pay their dues. Black money and backhanders is the fiscal workings and is taught from cradle to coffin , always has been and will be for a long time yet.

If the € does collapse Greece will just go back to the Drachma and things will not change till the next time they go bankrupt. Stay in the € and there’s a chance but EU pressure must be given to reform from their inherent ways and for this the country needs propping up by the EU. Greece needs serious major surgery throughout, cancers cut out and regeneration from the ground upwards.

Will the € survive as we know it, the fiscal reason for it surviving has long gone, it’s only the politicians in Euro la la land that are keeping it alive by political will, if the € fails so do they and the demise of the European dream.
If the Euro leaders and politicians do not get a grip hard and sharp there is going to be trouble for us all, and I believe no Country is totally immune from economic fallout in these troubled times.

Sorry for the rant and maybe the over simplification of the issues, but one could go on and on and we don’t want that peeps. That’s why were liveaboards, and the Greeks have the sun and the sea.

____________________________________________________________________
 
I'm planning on cruising Greece next year for the summer season. The financial meltdown had worried me and so far, I had not seen what to expect next year. Today I saw this in an article. So, it would appear that prices will go down for tourists. I'm ok with that.

A smaller Eurozone. If Greece defaults, that would probably mean the end of its membership in the Eurozone. The drachma would return as Greece's currency, and Greece would set its own fiscal and monetary policy without having to answer to bailout masters in northern capitals. Of course, Greece would be out of money and unable to borrow, so its economy would get hammered. The drachma's value would be very low against other currencies, which would make Greek exports cheap and help reduce unemployment. But imported goods would become vastly more expensive. Martin Hutchinson of Reuters Breakingviews estimates that Greek living standards would decline by 30 percent or more. Great Depression-style bank holidays may be necessary, to prevent people from withdrawing all their money. Other debt-laden nations could follow Greece out of the Eurozone and take a chance on default, but the economic pain in Greece might also produce popular support for more thorough austerity measures meant to remain part of the club. Foreign tourists, it's worth noting, would benefit from default, since travel to Greece or any other nation kicked out of the Eurozone would suddenly become one of the world's great bargains.
 
grumpygit said:
This thread does seem to have gone off at a tangent rather from the original op’s questions. So firstly Greece is more expensive. Food, wine, beer, smokes and fuel, but imo not ridiculously so. Food and alcohol is a variable and can be sourced quite cheaply. Beer €1.08 a litre (Lidl), €16’s for a litre of 47.3% Gordon’s gin.(Port mini market Tilos), some acceptable wines from €2 for 1.5 ltrs.
Food, seek and you will find at reasonable prices. Cigarettes can be bought from €3.20/30 pack to €4/20 pack depending on brand, and these are at national fixed prices. Fuel is the bummer, that has got expensive with oil prices and extra taxes. €1.50 +/- a litre is around the norm for derv. I did see it for €1.38 pl on Rhodes. Gasoline is at €1.65 +/-. I don’t think the Islands are so much more expensive, but yes there is always the exception.

At present we are on Crete and the food prices are very favourable, it fact we’ve had top notch taverna meals and best priced for the quality of anywhere we’ve eaten in Greece, €12 +/- ph including a litre of wine and most times with appertiser and sweet thrown in. Taverna beers from €2 to €3.50 for 500ml depending on brand.

Tell me where else on the cruising circuits you can tie up alongside for 3 nights with free water and electric at €18.70 for a 15mtr s/y, all above board with the Sitia Port Police.

Please don’t knock Greece too badly, imo it’s still the cheapest place and the best cruising area in Europe. Compared with increases in other European countries and Greece’s problems, I think it fairs very well.

Off on the tangent now...... Greece does have problems and serious ones at that, all much written about on this forum (me in the past) and elsewhere. I think we all have stories to tell but I will try and keep my opinions brief.

Greece has suffered so badly this year with the austerity measures and tourist wise because of the strike situation. Tourists have stayed away with the worry of whether they would get here as planned or what they would turn up to with demonstrations and services.
The system here is totally corrupt and reform is crucial, the younger generation realise and most accept this.Things will never change until the will is there to do so by the majority of its people. So far the most damage has/is being done to the working class aspect of the people. Let’s at the moment not get into whether these jobs are worthy or invented, there still jobs with a wage that has been reduced by at least 20% at best and 30+% at worst.
People here are even working there normal jobs and there's not always a chance getting paid or running weeks in hand with their wages, complain they lose their jobs so no job and no chance of getting their money. It’s the wealthy that are in the position to tax evade and they do big style. All this is why most Greeks are pi**ed off and fight back and against the establishment.

Your in business and tax or vat is due, you dream a figure you want to pay, backhand a collector and poof the problem is sorted, all’s happy but a pittance goes into the coffers, and who joins the strikers, the tax/vat workers. There are too many wealthy people that tax evade and don’t pay their dues. Black money and backhanders is the fiscal workings and is taught from cradle to coffin , always has been and will be for a long time yet.

If the € does collapse Greece will just go back to the Drachma and things will not change till the next time they go bankrupt. Stay in the € and there’s a chance but EU pressure must be given to reform from their inherent ways and for this the country needs propping up by the EU. Greece needs serious major surgery throughout, cancers cut out and regeneration from the ground upwards.

Will the € survive as we know it, the fiscal reason for it surviving has long gone, it’s only the politicians in Euro la la land that are keeping it alive by political will, if the € fails so do they and the demise of the European dream.
If the Euro leaders and politicians do not get a grip hard and sharp there is going to be trouble for us all, and I believe no Country is totally immune from economic fallout in these troubled times.

Sorry for the rant and maybe the over simplification of the issues, but one could go on and on and we don’t want that peeps. That’s why were liveaboards, and the Greeks have the sun and the sea.

____________________________________________________________________
Click to expand...

Grumpy = agree with everything you have said..... Not a rant either, but for the pro euro politicians is Sh!t or get off the pot time. Monetary union can only work if the make their dream a reality. And heaven help us then....

Latest "talks" have not agreed anything, so quite why the market showed a positive move I don't know. Perhaps they are just buying time for an orderly default with the French and Germans. Frankly, I see little chance of a domino effect as at least the other countries have attempted to do something - and if they cannot even collect their VAT for major international hotels,(new bulletin of failure to collect taxes) how are they going to implement let alone collect a property tax - Its a complete joke.
 
spiral prices

Prices are rising across Europe. Those quoted for Greece, while much more than 30 years ago, are still less than anywhere else.
Diesel in France is about 1.54 euros per litre even at the discount garages.
As an economist (long retired) I expect prices to rise further in Greece as they try to restore fiscal sanity to a resistant population.
They have been living high on the hog for too long now.
 
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