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VAT and Greek economy

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Dupnica:
Hello all you money experts, in view of the news today that Greece may default on its £1.1 billion bill to the International Monetary Fund next month, would it be wise to buy Euros now?The rate today with AceFX is 1.387.

Jimbo:
It's not new news - it's just that Yanis Varoufakis was on the Andrew Marr show on Sunday. Greece never could pay this amount in June without a release of bailout money.

Anybody's guess is as good as any other. One financial expert on BBC Radio 5's financial programme at 5:15 this morning said he thought the pound/Euro could go as high as 1.5.

It's always a gamble. But the current rate is as high as we've seen for a long time, and I've bought plenty for this year.

A default on payment to the IMF does not mean Greece leaves the Euro. What is just as important is whether the European Central Bank will provide liquidity for Greek Banks.

After four months of negotiations nothing has been agreed. Quote by Reuters on Kathimerini, Interior Minister Gabriel Sakellaridis:

"Still, he acknowledged that agreement on value-added tax hikes, pension and labour reform as well as lower primary surplus targets had yet to be found in negotiations with EU and IMF lenders."

You know that heavy mist than sometimes engulfs San Stef in the morning? That's where we are now. In two weeks' time we will know more.

xxmullinsxx:
We're supposed to be flying the 29th June with the latest date given to the Greek government being the 30th !! Don't know what to expect 😳 X

Jimbo:
Anything can happen in the next three weeks. There will be more endless talks, different stories from each side, and so on.

My advice remains to take plenty of cash (including sterling). If there is a default, the situation of the banks becomes "interesting."

Kernowfox:
I think Grexit is now odds on. For all its structural nonsense (retirement age 57) Greece has been hung out to dry by its European partners with the fiscal requirements for bail out being unachieveable.
Every distressed debtor needs a carrot and where this is none the towel must be thrown in. Germany and co were happy enough to become partners with these second tier economies and should have contracted suitable fiscal targets at the outset to reduce the impact of continual budget deficits.
How will it affect our beloved Corfu - in the final analysis not much .....those white plastic tables at Little Prince will still be alight for years to come......

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