# Greece is the word?



## Expatliving (Oct 21, 2013)

Despite being a Spanish vein of this greater forum, the elections in Greece today could have a massive 'knock on' effect to Spain in the not too distant future?

The city experts (yeah, the same ones that caused most of the recent financial problems!) have suggested a possible return of the drachma, which would possibly also ignite the Spanish nationalists wanting a return to the peseta.

More difficult times I reckon for the EU as a whole? However. on the upside though, my £ is wiping the floor with the fading Euro, which is good news for buyers and more importantly investors from outside of Spain.

Have a good Sunday.


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## alborino (Dec 13, 2014)

Expatliving said:


> Have a good Sunday.


It is interesting that a great opportunity is opening up for retirees to move to Spain. 

If you go for a villa owned by a spanish bank or a Euro based person the opportunity to do a deal is incredible. You can go from a two up - two down to a three bedrrom villa with pool, all expenses paid 

But still feel for say Brit villa owners who want out but have just lost another 8% if they plan a UK return or have a sterling mortgage  

As for Greece I'm sure it will not be conclusive, will drag on with coalition talks for days, then negotiations with Germany, and then another election  So not holding my breath.

But indeed have a great Sunday. Here in Hampshire a sunny winter's day perfect for a winter's walk terminating in a pint or two of Doombar and then a late lunch - something I will miss


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## olivefarmer (Oct 16, 2012)

Be careful what you wish for!

In the case of Greece if they go for a Grexit and adopt the drachma and for the sake of argument a drachma equals a euro on day one. Within a week it will have settled down to its real exchange rate which might be as drastic as 2 drachma equals a euro. It doesn't take much to realise what that does for anyone holding money in a Greek bank, with Greek property or buying things from outside Greece. It would however be a boost for tourism and their exports and a magnet for overseas house buyers perhaps. They would probably have to introduce draconian currency controls as the UK did some years ago.

Don't forget that when countries get desperate for money to shore up their finances they grab it from those with money as it is easier than trying to get it from people without money. e.g. a grab of so many percent on bank accounts as per Cyprus. The asset registers of over 50k haven't been set up for fun.


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## Pazcat (Mar 24, 2010)

Exit polls showing a clear win to Syriza.


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## jojo (Sep 20, 2007)

http://www.nytimes.com/2015/01/26/o...ing-greeces-nightmare.html?smid=fb-share&_r=0 Someone posted this on facebook, which apparently explains it all??

Jo xxx


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