Greece and the Euro

mick2350

Greece is again in trouble with its loan and they are talking about coming out of the euro with problems from the end of May. As I will going on holiday in June, What is the possibility they will revert to the Drachma?

mcfisco

If it does happen, I can't see it being anything but positive for tourists

markwilkinson

Just hold on and wait and see. We are going to Greece at the beginning of June and have no option but to wait and see what happens.

Pollycat

Even if it did happen, there would have to be a period of transition where both currencies are in use.

If you think of the massive amount of printing required to produce new currency for the whole of the country, it's not likely to be an overnight thing.

C_Mababejive

The sooner the Greeks return to Drachma land the better. They should never have got involved in the Eurofarce but as they did,well they have benefitted greatly from it and can now walk away and leave the Germans and everyone else to pick up the tap

giraffe69

There were stories earlier this year that drachma have been printed for just such an eventuality but first they need a government to take such a decision which, as of now, does not look that likely so bet on another election and several weeks delay before anything is done.

mick2350

Thanks for all your replies, looks like its just wait and see.

sillygoose

I understood there was enough credit left on the 'Bank of Germany Credit Card' to see them through into Autumn before they had to do something.

I am hoping its so as I am going end of August and with the Euro predicted to continue slumping against the £ I am looking to buying my Euro's near the time and having a cheaper holiday.
(Another bottle of wine at this table Giorgos if you please!)