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Old 06-05-2010, 12:20   #1
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Is the European Monetary Crisis a Good Thing ?

The Euro is now free falling down to 126 usd. in December thit was 150 usd.

That 400k eur sailboat in december would of cost you 600k usd. now its slightly over 500k usd.

I am happy I cancelled my Ionian sailing for June.

what do you think this means for the sailboat market for new and second hand ?
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Old 06-05-2010, 12:51   #2
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Well the AUD has gone down against the USD too. But don't think too much of it. The USD will head down again.

Thats not a bad thing at all. You yankies will make much more with a lower dollar.
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Old 06-05-2010, 12:54   #3
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Why cancel your holiday, you would be a millionaire with US dollars shopping in Europe

Greece is in the brown stuff and has been for years. Depending on the results of todays national election we might be joining them

Good time to visit. Remember the Fench have the best wines in the world. The Germans compose the best classical music and the Italians are great a painters. The Spanish (and French) nearly colonised the Americas, until the Royal Navy turned up. Finally the English were building stone circles before the Pyramids and invented the WWW. So lots to see.

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Old 06-05-2010, 14:25   #4
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I just love how everyone freaks out about a weak US dollar when it's generally a great thing for us unless you're a tourist in another country.
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Old 06-05-2010, 16:50   #5
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Love it. Now the 400KEuro boat in the OP instead of US$600K is today only $310K maybe down to US$300K tomorrow. Buy quick!
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Old 06-05-2010, 16:51   #6
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Old 06-05-2010, 17:03   #7
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One of the points of the EU / Eurozone is that to a large extent turmoil such as this doesn't fundamentally matter. Europe will still be around next week..........and within the Eurozone they have currency stability.

Another point to the EU is that solution to one European country's economic / political ills does not become..........war with each other. One of the reasons I shudder at the occassional exhortation from the US for the Europeans to re-arm - history teaches us that we don't play well with guns
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Old 06-05-2010, 19:35   #8
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Good for me as a US boat shopper. It makes those Euro priced boats in the Caribbean look a lot better.
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Old 06-05-2010, 19:37   #9
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Quote:
Originally Posted by David_Old_Jersey View Post
One of the points of the EU / Eurozone is that to a large extent turmoil such as this doesn't fundamentally matter. Europe will still be around next week..........and within the Eurozone they have currency stability.

Another point to the EU is that solution to one European country's economic / political ills does not become..........war with each other. One of the reasons I shudder at the occassional exhortation from the US for the Europeans to re-arm - history teaches us that we don't play well with guns
Well its STUFFED my plans mate... my euros are getting less $'s by the minute.. ahh well... guess I'll have to sign up 3 students for a Trans-Atlantic Yacht Masters Course on my Corribee....
I do SSB on my boat...
single sandwich breakfast....
$3,500/person...
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Old 06-05-2010, 20:49   #10
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I was lovin' it today. ERY up over 10%. Who says you have to go long or be in cash?
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Old 07-05-2010, 05:00   #11
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whilst the exchange rates may be favourable for some at the moment here in greece every thing has sky rocketed in prices example : diesel was 1.05 is now 1.55 per litre, marina charges have gone up by 30% and vat up from 19 % to 23 % and where you use to get free moorings on some Islands you will now find that mooring fees will be enforced .

so what you gain on one hand you will loose on the other here in greece
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Old 07-05-2010, 05:23   #12
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Well its STUFFED my plans mate... my euros are getting less $'s by the minute.. ahh well... guess I'll have to sign up 3 students for a Trans-Atlantic Yacht Masters Course on my Corribee....
I do SSB on my boat...
single sandwich breakfast....
$3,500/person...
The bogus bob business model
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Old 07-05-2010, 05:38   #13
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We live in interesting times for sure. I would not gloat about our currency, it's just a matter of time before before we enjoy rampant inflation as well. If you want a boat, buy it now, prices are soon to escalate. (LME has copper moving from $4.2k/ton last year to $7k/ton in one year)

Today the US entitlement programs consume ~75% of all revenues and unless we go on a very tough austerity program (IE cutting Medicare, Medicaid, SS, VA, workers comp....) we're going to be the US version of Greece. Fun time for sure when gramps is marching on Washington demanding his SS, medical and drugs be paid from a broken budget.

Anyone care to sail away?
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Old 07-05-2010, 07:33   #14
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Anyone care to sail away?
Love too, but where? Cuba could be an option, are Us citzens allowed in?

Sterling in free fall today after no clear majority to form the next Government, time to hope on a ship and visit Europe me thinks, $ will buy you anything. You can't fly though cuz them Icelandic vikings are poluting the atmosphere again

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Old 07-05-2010, 07:58   #15
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Originally Posted by beneteau-500 View Post
whilst the exchange rates may be favourable for some at the moment here in greece every thing has sky rocketed in prices example : diesel was 1.05 is now 1.55 per litre, marina charges have gone up by 30% and vat up from 19 % to 23 % and where you use to get free moorings on some Islands you will now find that mooring fees will be enforced .

so what you gain on one hand you will loose on the other here in greece
That's the way the Greeks handle their financial problems. We used to go there until about 5 years ago; The Greeks saw a decline in turnover because they lost a percentage of tourists to nearby and cheaper Turkey. To cover their losses they 'simply' raised the prices of everything. What do you think happened? Right...., they lost even more (ours included) business. I guess they have been spiraling downhill ever faster causing a new financial crisis. Glad we have just finished our vacation in the Carib (we still got USD 1,50 for most of our euro's); we will have to see what the situation is like in a year or so.
The Greeks are currently causing more damage to their country by their protests and destruction of their capital (and tourism).
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