Spectre of Greek eurozone exit looms as tour firm plans for drachma comeback

[marmar]

from the Guardian UK:



If Greeks were under any illusion that their country's exit from the eurozone is being entertained, it has been dispelled by the German tour operator TUI. Barely hours after EU powerhouses Germany and France tore up the bloc's own rulebook with the taboo-breaking announcement that a Greek departure from the EU was no longer inconceivable, the travel giant demanded that hoteliers in Greece agree to renegotiate contracts in drachmas.

Amid all the political and economic uncertainty surrounding the debt-stricken country, the spectre of Athens returning to its old currency had suddenly been raised. "It's very sad and we think they have jumped the gun," said the Greek travel executive Christina Tetradis, who vowed to raise the issue at the industry's biggest trade fair, the World Travel Market, which opens in London on Monday.

"I have heard that TUI has sent letters with a clause mentioning drachmas to hoteliers in Crete, which is their largest market. People there are very upset."

Tetradis, who presides over the association of hotel owners in the Ionian isles, said Greek hoteliers gathered in London for the fair would tackle the tour operator over the move. .............(more)

The complete piece is at: http://www.guardian.co.uk/world/2011/nov/06/greek-eurozone-exit-drachma-comeback