Greece

SUFC_Ross · Jul 6, 2015

Can somebody help me out I'm struggling to read through all the ******** in the news atm, Now that it is looking likely that Greece are to leave the EU what imact will this have on the Euro? will the value fall? meaning the sterling pound will have even more value over the euro?

Massimo Giovanni · Jul 6, 2015

If Greece stays in Euro project; or leaves, either way will make a depreciation on the euro a certainty whatever- more so if it leaves: which may seem perverse but markets will react badly to the bigger change. The £ is likely to strengthen against the euro but drop against the US dollar. Stock markets across Europe will have a slide, especially, IMO, in France, Spain and Italy.
The stronger pound will make imports cheaper but export sales harder/dearer.
A stronger £ may slow growth but make the UK more advantageous to migrants - working or claiming £s.
For Greece there is only pain and more pain; especially for pensioners, youths and city dwellers where the brunt of the current woes are hitting hardest.

Benfleet A1 · Jul 6, 2015

With talk of 'Forgivable Debt' Greece will remain in the Euro, Spain and Portugal will more than likely get similar deals, and the rest of the Euro gang will pick up the bill. Still want to remain in the EU?

manor15 · Jul 6, 2015

SUFC_Ross said:
Can somebody help me out I'm struggling to read through all the ******** in the news atm, Now that it is looking likely that Greece are to leave the EU what imact will this have on the Euro? will the value fall? meaning the sterling pound will have even more value over the euro?

Most important thing here is that it's still highly unlikely that Greece will leave the EU, it's a possibility that they'll leave the Eurozone (which is the member states of the single currency, which is the Euro). The UK is a member of the EU, but not the Eurozone.

SUFC_Ross · Jul 7, 2015

Thanks all, much appreciated. so many terms get thrown around and I am not going to lie I have had a bit of difficulty understanding but not for the want of trying! Thanks again all, not looking good for the general population of Greece either way, the poor everyday taxpayers are being dragged to hell and back just because of the bankers and government!