What advice would you give to travelers to the Greek Isles in September? Taking lots of US cash seems the obvious solution. What would you do Terry?
Terry Says: I think we will know more as we get closer. Lots of U.S. cash is dangerous. And I haven’t seen how they are handling old-fashioned traveler’s checks! But by then, certainly Greek banks will have reopened, and there will be a protocol for some type of currency exchange rate — whether for Euros or a new Greek Drachma.
One thing is sure: if your hotel room is guaranteed in Euros, the Euro will be a lot stronger then — if Greece is out of the union. So when you pay in Euros it might take a lot more dollars than it does today, to equal one Euro in the conversion rate. On the other hand, if there is a new “Drachma” then it could take fewer dollars to buy one of this new, and obviously weaker currency. So if the hotel is priced in “new drachmas” they will raise prices quickly! And this will all happen on a day-to-day basis.
Might I suggest a “Plan B” for a honeymoon with less financial drama? Italy, anyone??