So, those of you in Greece, what's your strategy ...

[sailaboutvic]

GOOD morning to all the worries out there on this beautiful sunny and warm morning from the island of Ios.
And today subject is ? Let's get stress out about Greece .

Talk on what going to happen to Greece if it get kicked out of the euro , Greece cruising tax , Greece running out of cash , ATM machine not working , shortage on food , all these subject are talking about more on YBW forum then any in the street of Greece , I guess we worry about it more then the Greek people them self , in the real world , life just goes on , yes the big money people in Greece may be withdrawing the money from there account , but the rest are still using there account has normal , yes there is limit on how much you can pay in cash , but In reality you won't find a greek who going to refuse a wad of cash as payment , we paid our winter mooring fee in cash , Marina didn't blink an eye lid , at the same time another yachtsmen paid his his contact 3500 all in cash .
Has we sailed through the lovely Cyclades island , nine so far this year , each stop over the talk isn't about Europe or how Greece will collapse , banks running out of money , it more lightly to be about last night football game or the goat that fell of a mountain top , then reason I guess is because the every day guy know nothing will change , life will just go on like it has done , tourists will still turn up by the ferries loads , the sun will still shine and there still be very rich people and very poor people ,
Oh I forgot the question now , AH YES what my Strategy ,
To enjoy sailing around Greece and not to worry what's might happen because it may just not happen . And if it does Greece will find a way to carry on like it had done for thousand of years before Europe was invented by those who want to control us all .

 

[vyv_cox]

Just to clarify, neither I nor my contacts know any 'big money people'. The man in the street in Leros (where there is a big shortage of millionaires) is withdrawing his money from the banks.

 

[sailaboutvic]

Just to clarify, neither I nor my contacts know any 'big money people'. The man in the street in Leros (where there is a big shortage of millionaires) is withdrawing his money from the banks.

Ok maybe some are , but so far I not seen any people queuing up along the street to with draw money , has I stood in the que the other day to make a small withdraw , I have to say it did take me nearly half an hour to get to the counter but that not because of the long que more that the three people on front of me where chating to the cashee about , what going to happen to Greece , or it could had been about that poor goat .

 

[Mrnotming]

http://www.thisismoney.co.uk/money/...ow-to-find-out-where-a-euro-note-is-from.html

If it all falls apart, the prefix Y and serial numbers may determine which Euro notes still have value? see above.
Sterling in the mattress might be better for those who can arrange this?

 

[sailaboutvic]

http://www.thisismoney.co.uk/money/...ow-to-find-out-where-a-euro-note-is-from.html

If it all falls apart, the prefix Y and serial numbers may determine which Euro notes still have value? see above.
Sterling in the mattress might be better for those who can arrange this?

OH NO Paul , what have you done , I going to need to rush off and look at where my Euros Bill is from now , more to stress about

 

[Davy_S]

If it all falls apart, the prefix Y and serial numbers may determine which Euro notes still have value? see above.
Sterling in the mattress might be better for those who can arrange this?

Sorry, but this complete rubbish was circulated 2 years ago, a euro is a euro!

 

[charles_reed]

Regardless of the ultimate outcome, I'm nonplussed that so many respondents are gung-ho about taking any precautions for what might happen in the next couple of months.

I agree, it is likely the Greek government would order banks to issue promissory notes in place of genuine euros. Is it equally probable that these will eventually be redeemed at parity? Do you want to be left holding them? Would small businesses such as chandleries and service stations accept credit card payments knowing the banks will turn them into a potentially low value currency, or will they demand cash euro payments?

I agree, the financial chaos would most likely settle down down after a couple of months and not result in some uprising or left/right wing coup d'état. But it would surely be chaotic for a while, with shortages of many imported goods. Do you plan to just sit it out at anchor somewhere, living on air?

Not to take precautions, though ... I'm with Affinite, moving within striking range of Turkey, ready to seek my fortune elsewhere if necessary and back when the dust settles.

About what are you havering?
What services for payment will you be offering the Greek government?
I fear you, as do many, have the wrong end of the stick.

 

[Mrnotming]

Sorry, but this complete rubbish was circulated 2 years ago, a euro is a euro!

DavyS :support this point of view if you wish to diverge from this possibility.
Then you will gain credence in the eyes of other Forumites who might by your denial,suffer unimaginable loss?

 

[Tony Cross]

About what are you havering?
What services for payment will you be offering the Greek government?
I fear you, as do many, have the wrong end of the stick.

As my father was fond of saying whenever I said this to him; first my son, be certain you have hold of the right stick.

I happen to believe now that it would probably be better for the longer term interests of Greece to leave the Euro. I also believe that the EU will struggle to the last (for political rather than economic reasons) to prevent that happening. But whatever you or I might believe it's clearly sensible for visitors to Greece to think about how best to protect themselves against such an exit whilst they are here. Personally we're keeping enough cash on hand to tide us over any lengthy bank closures, if the Euros we hold become Drachmas at some point and loose their Euro value, well we'll just spend them in Greek shops like the other 11 million Greeks.

My father also used to tell me to; hope for the best but prepare for the worst.

 

[sailaboutvic]

Wise man your father , any chance you could tell me where about on the boat you keep all these euros and what harbour you will be visiting this year , we running a bit out of cash .
And a PS
Any chance that you keep you fuel tank fill to make it worth our while and a pipe to siphon it out with please

 

[Tony Cross]

Wise man your father , any chance you could tell me where about on the boat you keep all these euros and what harbour you will be visiting this year , we running a bit out of cash .
And a PS
Any chance that you keep you fuel tank fill to make it worth our while and a pipe to siphon it out with please

It's all under the protection of my Cretan friends. Best that you not mess with them!

 

[spencerd]

Don't worry be happy, drink plenty of
ouzo and try to be like the
Greeks. Do they give a shit, do they...........

 

[Chris_Robb]

Don't worry be happy, drink plenty of
ouzo and try to be like the
Greeks. Do they give a shit, do they...........

I would imagine that the Island economies are returning rapidly to a cash based society, and now paying very little tax. To them there is absolutely no benefit in paying tax as it all goes to the excesses of the centre. Answer - the Islands should declare UDI perhaps....

 

[Davy_S]

DavyS :support this point of view if you wish to diverge from this possibility.
Then you will gain credence in the eyes of other Forumites who might by your denial,suffer unimaginable loss?

Here is a link, this was two years ago, It is scaremongering!
http://www.freerepublic.com/focus/news/2884273/posts

 

[Mrnotming]

Thanks Davy_S,
I had a look at the link kindly provided.Not very convincing at all , with many commentators indicating that they fear the Greek notes will suffer.Also the main article lacks any plausible authority in regard to this aspect.Overprinting of notes and stamps has happened in the past.Ireland did this with her stamps, but the notes after the Free state was created were still payable in London, a fine state of affairs.When the Irish Punt came along it was in the EU Currency snake and did bounce about a bit.Enough drift for now, you'll have me digging into the Weimar Republic before long!My good friend is in Messalonghi currently, and has a little of a few currencies in case of need.I'm sure most Greeks would be glad to snap up a bit of Sterling lately? Of course, at an advantageous exchange rate!
Hopefully it will all go away, but does this happen in real life?

 

[Mrnotming]

OH NO Paul , what have you done , I going to need to rush off and look at where my Euros Bill is from now , more to stress about

Hi Vic,
if you can see the Y without the aid of eye correction, you have no need of Specsavers!Good sailing, hope to launch mid-June as much refreshing of our vessel is necessary!

 

[Davy_S]

I have always been a person with a half full glass, not half empty, I simply do not believe that if Greece goes to the wall the Greek euro will be worthless. Imagine the scenario, tourists exchanging their sterling into euros at the high st, uk or elsewhere, the euro notes can be a mixture, most people simply exchange then go on holiday, they spend some and possibly bring some back to keep for the next holiday, or even get a bad deal and exchange them for sterling. It would be chaos if Greek euro notes were not accepted.
Also, if or when Greece goes pop, they will still have to accept euros, we are at the start of the tourist season, people here are simply going about their daily business as normal, there is no panic or impending doom.
Just to be on the safe side I will keep my fingers crossed! Anyway, the weekend is nearly upon us, it is time to eat, drink and be merry

 

[BrianH]

Enough drift for now, you'll have me digging into the Weimar Republic before long!

No need to go back so far, Argentina's default in 2005 is more relevant. But the EZ is uncharted territory and nothing really can properly prepare us.

However the nature of the beast is its extra-national permeability, especially with Greece being one of Europe's tourist venues, and Y-labelled banknotes will be distributed Europe-wide; it is highly unlikely that certain variants of a currency anywhere can suddenly be worthless ... or neo-drachma pegged. A euro is a euro is a euro, whatever.

For those of a financially nervous disposition however, there is a partial compromise ... only hold denominations of €50 and above. The Bank of Greece only issues Y designated banknotes up to the value of €20, it also prints them, as do printers in Austria, Germany and Holland.

 

[Tony Cross]

I have always been a person with a half full glass, not half empty, I simply do not believe that if Greece goes to the wall the Greek euro will be worthless. Imagine the scenario, tourists exchanging their sterling into euros at the high st, uk or elsewhere, the euro notes can be a mixture, most people simply exchange then go on holiday, they spend some and possibly bring some back to keep for the next holiday, or even get a bad deal and exchange them for sterling. It would be chaos if Greek euro notes were not accepted.
Also, if or when Greece goes pop, they will still have to accept euros, we are at the start of the tourist season, people here are simply going about their daily business as normal, there is no panic or impending doom.
Just to be on the safe side I will keep my fingers crossed! Anyway, the weekend is nearly upon us, it is time to eat, drink and be merry

I do wonder whether a situation will exist such as that in Turkey when we were last there in 2008. If you asked the price of something and the Turk said 100, you then had to say Lira or Euros? If you just assumed it was 100 Euros and paid that the Turk would say nothing and pocket the money!

 

[vyv_cox]

K,

For those of a financially nervous disposition however, there is a partial compromise ... only hold denominations of €50 and above. The Bank of Greece only issues Y designated banknotes up to the value of €20, it also prints them, as do printers in Austria, Germany and Holland.

I didn't know that. We drew €600 from an ATM a few days ago. It all came as €50 notes, which is normal, all with the prefix 'S'.