Will we soon see the return of the drachma?
Greece is a country that I have not visited too much, but I did enjoy visiting the islands on a cruise and I flew out to Cephalonia once which was tranquil and very relaxing. Reading about the current problems that are being suffered by the Greek people makes me very sad and without going into the reasons why they find themselves in this position, it is the people who are suffering.
The headline figures today suggest that in November alone 126,000 Greeks lost their jobs in a country of 11 million, equating that to say America, means that it is equivalent to three and a half million Americans losing their jobs in just a single month! The unemployment rate is running at 20.9% and can you imagine how we would feel here if that was in the UK?
Should Greece decide to return to the drachma it would mean that they could devalue their currency, something which it cannot do now as effectively it is tied in to the Euro and Germany and France. However, even if the Germans wish them to declare bankruptcy and leave an internal poll showed that 70% of the Greek population want to remain in the Eurozone, as pragmatists, Greece wanting to leave the €uro would be like the logic of a turkey voting for Christmas. Now many believe that nothing can save Greece but the Greeks. Let’s hope somehow they can turn the corner.
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