Cheap Holidays In Greece Soon

[SootySport]

Well, the gravy train has ended for the Greeks.

[V8grunt]

If you think about it, Really cheap holiday, all inclusive, If everybody goes there, thats a good start to a recovery,

2 weeks all inclusive 10,000 Dracma..... at 1000 dracma to the £ ;)

[Norman Verona]

Great.

However, If the Greeks default on its loans the cost to all of us will be far higher.

A typical Tory who looked like he'd swallowed a wasp on a stinging nettle was spouting off about we should not put a penny into helping the Euro was on TV yesterday. Doesn't he realise that if the Eurozone goes into deep recession we will also lose out just as heavily as we will have lost 40% of our exports.

So, really cheap holidays in Greece. Problem is no one will have any money to buy them. As well as not being able to pay mortgages, pay for cars, buy fuel....

[SootySport]

Apparently some of the UK banks have insured their loans to the Greeks, thats all well and good then but now it's the UK based insurance industry that will bail out these loans--------- oh dear! You know what that means.

[Norman Verona]

We're all doomed, doomed I tell you.

[DerekJ]

If you think about it, Really cheap holiday, all inclusive, If everybody goes there, thats a good start to a recovery,

2 weeks all inclusive 10,000 Dracma..... at 1000 dracma to the £ ;)

The problem with the all inclusive deal is that little of the money ends up in the local economy. Most of it ends up back in the holiday company's bank.

[SootySport]

Come to think of it, It's been an eventful day in Athens, out of the Euro, hissed down with rain and the Olympic torch departed.

[Norman Verona]

But the money the holidaymakers spend does.

I think Ouzo is pretty cheap as well.

It's a bit difficult to envisage the Greeks just defaulting. Their economy would crash and lead to mass unemployment, bank failures as well as most other business going bust. However a very tough poker game may ensue with the Greeks trying to ease the austerity measures required to stay in the Euro and get the bail out funds. May well be the better of the two evils.

[jeff oakley]

Being in the Euro has meant the Greeks have been unable to do anything about their situation. In days gone by they would have not had access to such easy money and would have not got into such huge debts. Secondly they would have been able to gently devalue the dracma which would mean cheaper holidays, an influx of capital and a slow recovery. Now in the Euro the only way out is to accept the bail out agreement or get out of the Euro. If this happens how long before the Portugese, Spanish and Irish do the same with a huge effect on the UK as even though we are not in the Euro we are in the EU so get affected.

The EU was a good idea which has gone wrong. When they started adding countries who haven't got a pot to p*** in join it is just a drain on the rest. Now there are few doing well but lot's taking cash out. even though this is happening the EU leaders still want to let Turkey join, do they never learn.

[Norman Verona]

One of the good things (in my opinion) was the rule that no Euro country should borrow more than 80% of gdp (if I remember the % correctly).

Problem was that no one policed it.

France and Germany to blame as far as I'm concerned.

[frag68]

My friend and I debated this last night and we are basicaly agreeing with the above.

My friend is a doctor and with the economy failing means no money for food, medication etc, which leads to all sorts or medical problems. Immunisation, if the government or the individual cant immunise children against the likes of polio etc, these diseases will return. Who then is going to pay for the treatment.

The whole situaton, not just the medic part, is a great concern and the economies not just of Europe, but the world will be at great risk.

Again bailing out contiually is not an option. After Greece who is next? Portugal, Italy, Spain....

Its worrying times for us all.

[pistonbroke]

I'm tempted to ask ...............

How much does a greacian earn ?

huk huk !

( or yuk yuk depending on your humour )

[alexander72]

summer holiday.... whats that? :-)

[alexander72]

vary goop piston broke - I liked that>

[alexander72]

i meant - very good.... damn the henry westons 8.2% cider......