Wednesday, 6 July 2011
With the term rapidly drawing to a close, my thoughts are beginning to turn to a long awaited break in the sun. This year, my wife and I have decided to venture to the Greek island of Santorini. Now, when the vacation was booked, Greece was not the sick man of Europe that it appears to be today and, although the rate for the £ against the € was not great (and has got no better) it looked good value. Now however, it's a much different story. The Greek government has been bailed out by the IMF, a bank, in return for the introduction of what look to be very strict and severe austerity measures. So, should I be worried? Well, on the one hand I am a little concerned that the social unrest and austerity measures could cause issues with flights but on the other hand the Greeks will surely be grateful for any tourism income that they can get their hands on. The Euro remains as the currency and the rate is hardly any better but in order to sell the Greeks will surely have to lower prices to remain competitive. Will this mean discounts in restaurants, shops and tavernas as they seek to recoup some missing income? All in all, it's a bit academic; the trip is booked, the shorts are pressed and Santorini here we come!
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