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Besides the stated reason, I'd assume having your contracts denominated in pounds isn't the worst idea for a Greek businessman in this day and age.
by mseebach 15y ago
Besides the stated reason, I'd assume having your contracts denominated in pounds isn't the worst idea for a Greek businessman in this day and age.
- StavrosK 15y agoWell, the alternative is Euros, so it's not that bad. Not worse than any German or French entrepreneur, I guess...
- mseebach 15y agoFor now, yes. But if Greece leaves the Euro in order to devalue her debt (considered by many as inevitable), the contracts of Greek companies would likely be forcefully redenominated to "New Drachmars". Of course, no one knows how this will play out, but I think it would be very hard for anyone to touch a UK limited company's contracts and sterling holdings, regardless of who it's owner is.