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Thanks everyone for your help, I'm going to Crete do hopefully things shouldn't be as bad there?


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[Cyanohydrin]

I'm going to Greece this summer. I am actually hoping to witness some unrest, but maybe that is just me!

[fastswift]

http://www.bbc.co.uk/news/business-18091763

Found an article about Greece exit euro and 'you'.

Basically we "benefit' from it unless we own properties in Greece or have money with their banks.

Money will go further for travellers and those on UK pension living in Greece.

[Donald Duck]

(Original post by Cyanohydrin)
Hopefully this is the beginning of the end for the European Union.

Now we can see the EU for what it is. Asset stripping the poor. Transferring wealth to the richest.

Long live Greece, the cradle of Western civilisation. There is not enough room in hell for those who are destroying that nation.

Now I'm pretty certain the Greeks borrowed too much money themselves, and have a whole bunch of bad policies by not wanting to take difficult decisions in the past (such as raising the retirement age). This is just the result of that.

If by asset stripping the poor, you mean making the poor pay back the loans they took (such as the loans of greece to investors and Germany), that isn't the EU, that is basic capitalism (you lend too much money -> you go broke = you have no money left). Countries can bend the rules more than individuals, but up to some level we are bound to take responsibility for our own actions.

Having been the cradle of western society 2500 years ago doesn't reflect how others should act 2500 years later.

(Original post by silverbolt)
I cant see it being like that. i forsee a frankly much darker approach

Greece leaves the EU. Greece begins to burn under the weight of what its done, a struggling economy now bringing back its own currency. With aid or possible left to its own devices it will recover in time however rather than help the EU like a spiteful child will deliberately help fuel the fires of poverty and economical meltdown as an example to others.

The EU knows that if Greece is successful in its seperation it will start a domino effect of "if greece can do it we can to" from other countries (apart from the UK which is far too soft to ever try and stand up on its own two feet again) - Ireland being a prime example - they will realise that they are better off on thier own which the EU wont allow as it means the wholet hings comes crashing down. It will protect itself even at the cost of Greece to stop other countries trying to leave

I agree that the EU will do what they consider in their best interest. However pushing Greece further off the cliff will mean more stress on the Spanish, Portugese, Italian, Irish, and Belgian bonds (and at this point maybe France as well), in about this order. The EU will do their very best to avoid the collapse of the entire EU with its economy, and therefore won't be pushing Greece further off the cliff. The domino effect is the other way around, and if there is uncertainty about which domino effect would be happening (which I strongly doubt), if your domino effect happens, the EU economy will be OK, its just the monetary union which is not. If my domino effect happens, the entire european economy is screwed, as well as the EU. If they would have to gamble on which domino effect to risk, surely they would risk yours.

[Donald Duck]

(Original post by fastswift)
http://www.bbc.co.uk/news/business-18091763

Found an article about Greece exit euro and 'you'.

Basically we "benefit' from it unless we own properties in Greece and have money with their banks.

Money will go further for travellers and those on UK pension living in Greece.

Directly, you're probably right. However it will cause significant economic turmoil within the EU, which will seriously affect the UK economy, making us worse off in the long run.

[cl_steele]

(Original post by perfectsymbology)
We've heard some doomsayers predict that it will be disastrous for the Greeks in the short term at least, but I wonder how true that is. I wonder if Greece should form an economic union with Turkey (not going to happen I know) seen as Turkey is doing well economically.

short term theyre ****ed.
long term theyre slightly less ****ed.

If they leave the euro and return to the drachma they will stop recieving EU bailouts, their currents debts would be converted to Drachma and due to it being devalued i perish to think how many hundred of billions if not trillions it would amount to ... they will default completely and will be black listed from being lent to for a very long time and i would truly love to see them finance a cleaner let alone anything else if that happens. eventually theyll get back on track though like Argentina, Germany and Russia all ave when similar things happened to them.
That being said the Greeks have the EU bent over a barrell, they know that the Euro is hanging in the balance and Germany and her band of merry men will go to almost any length not to let it leave and drag the euro through the mud so can quite easily *extort* more bailouts out of them