Quote:
Originally Posted by jcommin
If the Greeks think their lives are bad with the Euro, it will be worse with the Drachma. I'll bet there wil be a 30% difference in currency value.
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Closer to 50 percent IMO. But Greece denominated in Euros never made any sense to me.
I go back to the same village on Crete with some regularity. A house I considered buying pre-Euro for about $100K is now on the market for about $1.5 million. Insanity.
Greece produces nothing. It's shipping industry is largely offshore. Tourism is the main industry. Its insane how the Euro has distorted real values in Greece.