Greece's Loss Your Gain?

[Tscott8201]

All the talk of the financial problems Greece is going through have me thinking. Will the financial crisis in Greece affect boat prices there to any significant extent? I wonder if the local economy goes tits up if there will be opportunities to sweep in with foreign cash and get a great deal on a boat?

Tom

[ruby tuesday]

i don't think that there will be where boats are concerned but that there will definitely be savings to had in terms of yard work / hard standing / pontoon moorings and other local services.

most of the boats that are currently for sale moored up in greece are owned by foreigners that don't have to sell - they're selling to upgrade / downgrade their boats.

there might be some boats going cheap but not many. i forecast that greek property on the other hand will get cheaper - bit like southern spain did. in short the watersports community will not realise the same savings as the land lubbers in greek terms.

gunna be interesting when they start printing the drachma again next week though

Greece out / UK out and there is talk already of a Frexit which would be really good for us travelling Brits

[SimonV]

This could mean no more schengen for Greece. That could be handy.

[valhalla360]

Only if they drag the rest of the EU down. Far too many of the boats are owned by other EU citizens.

[Tscott8201]

Originally Posted by valhalla360

Only if they drag the rest of the EU down. Far too many of the boats are owned by other EU citizens.

Sadly, I think that is a distinct possibility at this point.

Tom

[adlib2]

Originally Posted by Tscott8201

All the talk of the financial problems Greece is going through have me thinking. Will the financial crisis in Greece affect boat prices there to any significant extent? I wonder if the local economy goes tits up if there will be opportunities to sweep in with foreign cash and get a great deal on a boat?

Tom

No VAT to worry about; but then considering the situation probably introduce something much higher.

[timbenner]

There should be some Greeks looking to sell their boats for cash. The news here said that they can only take $57 per day out of the banks.

This brings up a good point. Half of the reason I keep my boat, is to have an exit strategy for a little wealth (value of the boat) out of my Country, when the financial meltdown hits here. Add some gold coins and I can go start over in a Country that's not broke.

[GreenIssue]

It would be a tough one since the banks are closed... and it will be chaos when they open again.

[atoll]

after the riots,prices will sky rocket on all imported goods,untill the blackmarket currency exchange is established,making it cheap for anybody with hard currency.

unfortunately only locally produced food and drink will be on the menu,so you better like feta salad and retsina,with octopus the only seafood available!

[S/V Alchemy]

One must consider that the Grexit will complicate money transfers, even down to the level of making change. Another consideration is that the desperation of the situation may make Greece more dangerous for foreigners (particularly if they might be German, or resemble Germans) from a mugging and theft point of view.

It doesn't preclude cruising there, but I would have to consider it South Africa on the Med in that reputation and fences would suggest the best places to visit, as social breakdown might prevail beyond fences and security guards.

[hoppy]

Originally Posted by SimonV

This could mean no more schengen for Greece. That could be handy.

That's never going to happen.

The only way Greece would be leaving schengen would be if they left the EU and that would only happen if Putin shows up with a lot of cash (which he can't really afford) and there is a bloody civil war

[mcgranec]

If Greece goes bust and the Brits exit, we will finally realise that Germany have been behind this break-up. Irresponsible lending by German banks, pension funds and the like led to the troubles in Ireland, Greece, Italy, Portugal and Spain. Yet their muscle has ensured that their banks are defended and protected at the expense of the ordinary people in the streets. Yet, the lenders are only now having it put up to them by the stubborn Greeks. I only wish the Irish Government had stood up to irresponsible lending and let the banks sort it out amongst themselves. There should have been blood on the streets, Bankers blood and the politicians who allowed them to play the electorate like they did.

[K_V_B]

Originally Posted by SimonV

This could mean no more schengen for Greece. That could be handy.

Not necessarily. Firstly it's not a given that Greece would leave the EU. Secondly even as a non EU country it still might remain a member of the Schengen treaty. Given the importance of tourism this is very likely.


Sent from my iPad using Cruisers Sailing Forum

[AlwaysFORSAIL]

I'm guessing that you are not ashamed to be a vulture. Me either since financial ruin is pretty much of their own making. Puerto Rico is closer, Tom, and is in a similar situation.

[hoppy]

Originally Posted by mcgranec

If Greece goes bust and the Brits exit, we will finally realise that Germany have been behind this break-up. Irresponsible lending by German banks, pension funds and the like led to the troubles in Ireland, Greece, Italy, Portugal and Spain. Yet their muscle has ensured that their banks are defended and protected at the expense of the ordinary people in the streets. Yet, the lenders are only now having it put up to them by the stubborn Greeks. I only wish the Irish Government had stood up to irresponsible lending and let the banks sort it out amongst themselves. There should have been blood on the streets, Bankers blood and the politicians who allowed them to play the electorate like they did.

If you take out a massive home loan that you can afford at 2% interest but will suffer if it increases to 3%, or if you remortgage your home to buy a fancy yacht/car that you can barely afford, then you are an idiot.

People also have to take responsibility to borrow what they can afford, not what they can get. The bankers were idiots and so were the borrowing public