Greece...

[Deleted User]

Marktheshark wrote: »

Once out of Europe and free of EU rules and tax burdens they can restore its tourism trade, it really does have some very fine coastline and Islands.

No chance Greece will leave the EU. EU is not Euro. It would be stupid for them to do so. German holidaymakers are their best customer.

And nothing prevents the Greeks from trading in Euro privately with their tourists.

lvader

ciaccino wrote: »

No chance Greece will leave the EU. EU is not Euro. It would be stupid for them to do so. German holidaymakers are their best customer.

And nothing prevents the Greeks from trading in Euro privately with their tourists.

There is no provision to leave the Euro, they may have to leave the EU to leave the Euro.

Froggitt

I suspect there is also no provision to leave the EU........

antrobus

Marktheshark wrote: »

With the North African situation regarding Tourism and also Turkey is going off many peoples radars.
A return to the drachma and capatilise on the Holiday market by offering value for money could be a survival line....

Greece already has a considerable tourism business. I don't really know to what extent it has spare capacity that is currently not being utilised.

Marktheshark wrote: »

...Once out of Europe and free of EU rules and tax burdens they can restore its tourism trade, it really does have some very fine coastline and Islands.
It lost out to places like Tunisia who were able to undercut them as they were EU tax and VAT burden free.

If Greece leaves the EU as you suggest, it will lose the €5 billion or so it currently receives from the EU. And given that the Greek government is a bit short of money, I don't think it is in a position to start reducing taxes in that manner either.

Graham_Devon

antrobus wrote: »

It depends.:)

As I understand it, the 5th July referendum will technically ask the Greeks whether or not they accept or decline the proposals put forward by the troika on the 25th June. Of course, in reality they will be asked whether or not they want to keep the Euro.

Given that two recent opinion polls suggest that a majority of Greeks want to stay in the Euro, there remains a possibility that they will choose the 'accept' option. At which point some Greek government is going to have to go back to Brussels and say 'Oh, all right then' and sign on the dotted line.

http://www.ekathimerini.com/4dcgi/_w_articles_wsite1_1_28/06/2015_551607

Interesting that you are still optimistic on all of this.

"I call on you to decide - with sovereignty and dignity as Greek history demands - whether we should accept the extortionate ultimatum that calls for strict and humiliating austerity without end, and without the prospect of ever standing on our own two feet, socially and financially," he said.

"The people must decide free of any blackmail," he added.

I can't really see that being turned around into "do you wish to stay with the Euro currency or not".

What's really refreshing in all this is allowing the Greeks themselves to have a say. No longer is it for the EU, Germany or Greece to decide the fate of the Greek people.

It's up to the Greek people now. What they decide is what count's now, and that, to me, is refreshing after 5 years of never ending can kicking.

antrobus

ciaccino wrote: »

...And nothing prevents the Greeks from trading in Euro privately with their tourists.

Nothing prevents Venezuelans from trading in USD privately with their tourists. Has no bearing on the question of the national currency.

Froggitt wrote: »

I suspect there is also no provision to leave the EU........

Article 50 Lisbon Treaty.

mystic_trev

antrobus wrote: »

Looks like Peston might have been wrong.

The DT is reporting that the ECB will maintain ELA at its current levels.

Which may have already run out, and there will be no more increase in funding.

http://www.bbc.co.uk/news/world-europe-33304674

antrobus

Graham_Devon wrote: »

Interesting that you are still optimistic on all of this. ...

I am neither optimistic nor pessimistic. I am merely interested.

Graham_Devon wrote: »

...I can't really see that being turned around into "do you wish to stay with the Euro currency or not". ....

I am of the opinion that is in reality what the Greeks will be deciding.

Graham_Devon wrote: »

...What's really refreshing in all this is allowing the Greeks themselves to have a say. No longer is it for the EU, Germany or Greece to decide the fate of the Greek people.

It's up to the Greek people now. What they decide is what count's now, and that, to me, is refreshing after 5 years of never ending can kicking.

The referendum was an act of desperation by Tsipras. He had nowhere else to go.

antrobus

mystic_trev wrote: »

Which may have already run out, and there will be no more increase in funding.

http://www.bbc.co.uk/news/world-europe-33304674

If the Greeks continue to try an withdraw cash at the same rate as yesterday (over €1 billion, I understand) then somethings gotta give.

purch

ciaccino wrote: »

No chance Greece will leave the EU. EU is not Euro. It would be stupid for them to do so. German holidaymakers are their best customer.

What has German tourists, or British tourists got to do with whether or not Greece are members of either the EU or the EUR ?