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Posted By: geoffreys

The continuing crisis in Greece leads me to wonder if things over there might now be really cheap as the recession/austerity/economic downturn/unemployment bites? Second hand cars for example? Property? Speedboats, yachts, cruisers? Anyone who knows Greece well and been there recently who can enlighten us? Geoff



Posted By: Mr Tibbs

It's often been postulated in a wide variety of business/economic reports over the past 6 months or so that should Greece default/leave the Eurozone and adopt Drachma 2 then it would most likely halve in value - virtually overnight. Clearly, things have recently moved from possibility to probability in that respect, despite Merkel's utterances to the contrary. Quite what it will mean for Cyprus I'm not sure but I imagine it will be an economic disaster involving a lot of public money being used in order to recapitalise the banking system.

Posted By: cansweet

I'd be inclined to partly agree with you Tibbs. In fact, I do hope Greece calls the ECB's bluff, just to actually see what will happen. I simply cannot see any conditions whereby they'll be kicked out of the Euro, because then nobody gets paid. In all fairness though, Greece needs a kick in the butt.

Posted By: DAC

Lets face it, along with the other original members of the once elite group that was know in EEC circles as the poor-four, Greece only ever joined the club so as to feed at the trough that was perpetually filled with "someone else’s money". Problem now being, the trough is empty and they have no sense of responsibility and no added value.
Any lesson in life that is truly worth learning will always be learnt the hard way. Boot Greece out and make them stand on their own two feet and that way they’ll begin to value all those things that for to long were all taken for granted, which in turn will make them a stronger and more valuable country. I mean, it never done Germany any harm by being the black sheep in the family.

Posted By: Tangutica

I think Geoff meant to say 'things over THERE', not 'things over HERE'

Posted By: geoffreys

  • Tangutica wrote:
    I think Geoff meant to say 'things over THERE', not 'things over HERE'

Correct! Thanks Tang. An unfortunate typo (now corrected), I missed off the letter "t" in the word "there"!
Must go to Specsavers.
Geoff

Posted By: DAC

I recall seeing a news article last summer where two Geordies had set up shop in Athens buying gold. Must be making a killing!

Posted By: geoffreys

  • DAC wrote:
    I recall seeing a news article last summer where two Geordies had set up shop in Athens buying gold. Must be making a killing!

Maybe the same outfit who have set up in Larnaca??!!
Geoff.





Posted By: case

  • DAC wrote:
    I recall seeing a news article last summer where two Geordies had set up shop in Athens buying gold. Must be making a killing!
I wanted to do that but I cannot understand “Greece Greek” or read and write Greek, so I wonder how those two Geordies managed to get around the language barrier and also all the regulations on buying and melting gold down.

Posted By: geoffreys

  • case wrote:
    • DAC wrote:
      I recall seeing a news article last summer where two Geordies had set up shop in Athens buying gold. Must be making a killing!
    I wanted to do that but I cannot understand “Greece Greek” or read and write Greek, so I wonder how those two Geordies managed to get around the language barrier and also all the regulations on buying and melting gold down.

Canny lads in Brown Bottle Land!
Geoff

Posted By: Kwacka

As I heard on the radio last night (speaking to a British resident) Athenians are going to the woods and cutting trees down for fuel, others are looking through bins hourly setting up such a business now might not be a great investment.
Civil servant with 10 years service 25,000 euros salary last year, reduced by over 30% this.

Posted By: geoffreys

  • Kwacka wrote:
    As I heard on the radio last night (speaking to a British resident) Athenians are going to the woods and cutting trees down for fuel, others are looking through bins hourly setting up such a business now might not be a great investment.
    Civil servant with 10 years service 25,000 euros salary last year, reduced by over 30% this.

Doesn't sound like a good idea after all!
I would still like to know if second hand cars are cheap to buy in Athens??
Geoff

Posted By: Mr Tibbs

  • Kwacka wrote:
    Civil servant with 10 years service 25,000 euros salary last year, reduced by over 30% this.

Seems that unless common sense prevails, or somebody starts knocking heads together, then in about 6 weeks time it could be reduced by a further 70%. :shock:

Posted By: case

  • geoffreys wrote:
    • Kwacka wrote:
      As I heard on the radio last night (speaking to a British resident) Athenians are going to the woods and cutting trees down for fuel, others are looking through bins hourly setting up such a business now might not be a great investment.
      Civil servant with 10 years service 25,000 euros salary last year, reduced by over 30% this.

    Doesn't sound like a good idea after all!
    I would still like to know if second hand cars are cheap to buy in Athens??
    Geoff
Steering wheel on the wrong side for you Geoff they don't drive on the same side as Cyprus

Posted By: 2diffs

  • geoffreys wrote:
    • Kwacka wrote:
      As I heard on the radio last night (speaking to a British resident) Athenians are going to the woods and cutting trees down for fuel, others are looking through bins hourly setting up such a business now might not be a great investment.
      Civil servant with 10 years service 25,000 euros salary last year, reduced by over 30% this.

    Doesn't sound like a good idea after all!
    I would still like to know if second hand cars are cheap to buy in Athens??
    Geoff

Second hand Greek cars are LHD, so they will have a better market in the neighbouring countries.
Nobody is selling cars in Cyprus and luxury LHD motors would be very hard to shift here.
If you want to dabble in distressed property, boats are a better bet, but again nobody is dealing boats here either.
Now if you are prepared to stockpile, expensive watches, jewellery pictures and antiques would make money eventually and you only need a safe, not a car park.
Just hang on a month or two, you will be able to do the deals in Nicosia, instead of Athens.



Posted By: case

  • Kwacka wrote:
    As I heard on the radio last night (speaking to a British resident) Athenians are going to the woods and cutting trees down for fuel, others are looking through bins hourly setting up such a business now might not be a great investment.
    Civil servant with 10 years service 25,000 euros salary last year, reduced by over 30% this.
Seems like a tale from when the Persians were attacking 3000 years ago it was all uphill when the Persians were routed lets hop it is the same again.

Posted By: Tangutica

  • geoffreys wrote:
    • Tangutica wrote:
      I think Geoff meant to say 'things over THERE', not 'things over HERE'

    Correct! Thanks Tang. An unfortunate typo (now corrected), I missed off the letter "t" in the word "there"!
    Must go to Specsavers.
    Geoff

So must I Geoff! The specs I paid a fortune for here never did 'fit properly' nor did they 'do the job' I am currently using the off the peg €10 ones.
I will be visiting the said Savers when over there this year and stock up for half the cost!

Posted By: DAC

  • case wrote:
    • DAC wrote:
      I recall seeing a news article last summer where two Geordies had set up shop in Athens buying gold. Must be making a killing!
    I wanted to do that but I cannot understand “Greece Greek” or read and write Greek, so I wonder how those two Geordies managed to get around the language barrier and also all the regulations on buying and melting gold down.

Why worry about such technicalities as regulations, I mean, isn’t that why Greece is in the dire state that it is!
An gram is an gram and if your offering someone €12-€36 for it and as long as you have an outlet for selling it on, I can’t really see that you’d have any problems. Just make sure that you have a very thick set of iron bars between you and the punters and some heavies to escort you to the bank..

Posted By: ProVox

Seems like a familiar theme...................
Reuters: Greece is screwed, there are no jobs and it has been run by crooks.
http://www.reuters.com/article/2012/05/13/londonproperty-idUSL5E8GB8RI20120513


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