Cyprus-Forum.com

[Jerry]

who is to say they will not do the same thing in greace and cyprus.

Won't be so easy in Cyprus, I doubt there is any ISIS infrastructure on the island, not so easy for extremists to hide in the population.

[Lordo]

all it takes one lunatic and a few thousand pounds. these people are brainwashed and dont care if they get killed. is there no lunatics in cyprus.

[Pyrpolizer]

So where are these Euros going to come from if Greece formally returns to the Drachma but does not have the new currency, the ECB won't supply them. In the faltering Greek economy people will be tempted to hang on to the strong currency, unfortunately the economy will grind to a halt.

Money like RH said in the beginning is A POINT SYSTEM. You don't even need the physical presence of coin-paper notes. All you need is points. The money you have are actually points. Points on your credit card, points in the Bank. You exchange points buying - selling goods and services.
So internally there will be absolutely no problem, everybody will use his plastic cards until they print Drachmas.
Tsipras was clever enough to have full reserves of fuels and other materials that would last for at least 3 months. Imports will be paid from the money of tourists.
There will be some devaluation at the beginning. French newspapers try to scare people that it will be 70-80%! Nonsense. It has already been studied. It will be 30% during the first year.The important thing is ANOIXI is coming! That's all it matters.

[Jerry]

So where are these Euros going to come from if Greece formally returns to the Drachma but does not have the new currency, the ECB won't supply them. In the faltering Greek economy people will be tempted to hang on to the strong currency, unfortunately the economy will grind to a halt.

Money like RH said in the beginning is A POINT SYSTEM. You don't even need the physical presence of coin-paper notes. All you need is points. The money you have are actually points. Points on your credit card, points in the Bank. You exchange points buying - selling goods and services.
So internally there will be absolutely no problem, everybody will use his plastic cards until they print Drachmas.
Tsipras was clever enough to have full reserves of fuels and other materials that would last for at least 3 months. Imports will be paid from the money of tourists.
There will be some devaluation at the beginning. French newspapers try to scare people that it will be 70-80%! Nonsense. It has already been studied. It will be 30% during the first year.The important thing is ANOIXI is coming! That's all it matters.

I have just watched Evan Davis BBC reporter in Athens, he quite clearly said that Greece is operating a cash economy. He interviewed a Greek pharmacist who said they will run out of drugs soon and may not have the funds to buy more, a surgeon said prices will double if they go back to drachma and his staff are not paid this month, Greek importers are being asked for payment up front before goods are dispatched. I wish I was as optimistic as you.

No sane businessman will pay Euros into a bank and risk losing its value in a return to a devalued drachma, why do you think people are frantically withdrawing cash from the bank, why don't they use their plastic?

[Paphitis]

Unless Drachma have already been printed (surely someone would have leaked that by now) or the old ones have been stashed away somewhere there is a practical problem with returning to the drachma even if it is a good idea.

They don't have to print drachmas. They can carry on using the Euro, no matter what. There are many countries, for example, that use the American dollar and are not in the USA. It would be a similar scenario except this would be the first time a non-Euro-zone country would use the Euro - but more so, I don't believe they can be forced out of the Euro-zone nor does the ECB want to force them out of the euro-zone, but of course they will use this scaremongering to get a "Yes" vote out of frightened people. Disgusting tactics.

If you love Greece so much then you will recognize the humiliation the country and people have endured as well as the draconian and socially unsustainable austerity.

Greece has many issues and needs urgent reform. Most people know this. But the humiliation and the way in which Greece has been treated is unprecedented and there is no respect for its sovereignty.

Greece is faced with a very bad dilemma. It will either condemn 3 generations to slavery or endure short term hyper-inflation for about 5 years. You work it out for yourself.

The Drachma is Greek. The Euro is NOT. It is a symbol of Greek humiliation and indignity. The Germans are welcome to it. Greece is the first country to fall but it is not the last. In the end, Greece will reserve its place in history.

Greece is not for sale. Greeks have dignity.

The Drachma is their currency and they can perform a miracle with it but in the short term they will pay a heavy price.

They don't have anything to lose now.

[Oceanside50]

And what does all this mean ? They are not out of euro, they just defaulted..

[Nikitas]

"They don't have anything to lose now."

They have PLENTY to lose! My mortgage is in Euro. Going to a devalued drachma, some predict 50 per cent devaluation in the first week, will double my mortgage payments, while halving my purchasing power.

Businesses will be faced with similar devaluation problems.

On Sunday night you will be amazed at the crushing majority Greeks will give the pro Euro motion in the referendum.

Living the reality, ie not being able to send money to your kids studying abroad, when up till now they used their cash cards to draw money from joint family accounts, will awaken people to the Tsipras bullshit.

This is a bunch os cryptomarxists psychopaths.

[Paphitis]

And Greece will outdo Cyprus in no time, outside of the Eurozone.

We'll talk again in 2 years time.

What you do not understand is the fact that if Greece Defaults, is kicked out of the Eurozone, then their economy will then overheat and transition into its own little bubble.

If that happens, the entire OECD will be eating Greece's dust.

[Paphitis]

"They don't have anything to lose now."

They have PLENTY to lose! My mortgage is in Euro. Going to a devalued drachma, some predict 50 per cent devaluation in the first week, will double my mortgage payments, while halving my purchasing power.

Businesses will be faced with similar devaluation problems.

On Sunday night you will be amazed at the crushing majority Greeks will give the pro Euro motion in the referendum.

Living the reality, ie not being able to send money to your kids studying abroad, when up till now they used their cash cards to draw money from joint family accounts, will awaken people to the Tsipras bullshit.

This is a bunch os cryptomarxists psychopaths.

Nikitara mou,

Put all your cash into your mortgage. Get it down by using any means available to you.

The transition will not be an easy one if Greece votes NO. But many people have already lost everything as well as be humiliated.

If the continue in the Eurozone, 3 generations will be unable to get a home loan unless they have backing. With the Drachma, then maybe Greece has a chance and without the unsustainable levels of debt.

[Cap]

Turks offer to help their cousins.

http://www.ekathimerini.com/198722/arti ... mic-crisis