Greece and the Euro????

Coachie



Joined: 29/07/2008
Posts: 2135

Message Posted:
07/05/2011 12:18

It appears that the above country is considering dropping the Euro and going back to the Drachma.Could be interesting?? Lots of cheap hols etc..but I think Brussels might have something to ay on that subject.....

No1Doyen


Joined: 04/07/2008
Posts: 16617

Message Posted:
07/05/2011 12:25

Could they do it Coachie? I would have thought they must have signed some kind of agreement as a commitment.

andre514


Joined: 05/10/2010
Posts: 763

Message Posted:
07/05/2011 14:55

market-set interest rates on greek debt is now reaching quite stupid levels of 15% or more



it is not so much "deciding" to keep the euro or defaulting and going to a softer currency

but when the situation is this serious something will have to give way



then again the supposed non-meeting of north european finance ministers

but have been calculating the costly financial and political real alternatives:



writing greece a virtual blank cheque, or throwing them to the wolves

in other words finally ditching greece to stop the rot spreading to other club-med states



the latter being a tricky one since if ireland, spain and italy eventually follow,

that will almost terminal be terminal for the system in its present form



my goodness I wonder if there is regret at letting greece into the eu originally,

notwithstanding the existing minor irritant of the largely-political cyprus "problem"

yrret


Joined: 17/08/2010
Posts: 761

Message Posted:
07/05/2011 16:20

here's the original thread on this



http://www.cyprus44.com/forums/62724.asp

IbrahimAbi


Joined: 24/10/2010
Posts: 245

Message Posted:
07/05/2011 16:58

Maybe they should call Tayip and ask about taking up the TL, or sell out to Sabanci

deputydawg


Joined: 30/03/2010
Posts: 1727

Message Posted:
07/05/2011 17:07

I found it amazing that Turkey is subjected to more chapters than those in a library as a prelude to consideration for membership when Greece likely filled out one application form and submitted it. This when every man in the street knew for years that Greece fiddled their entry and, for example, made sick jokes that they were claiming subsidies for millions of mountainside goats which did not exist. When the Turks say that the EU is a Christian Club only, it is hard to rebuke them for that view.