After yesterday's podcast, it was put to me by a Euro loving loon (but good man) on twitter that Greece defaulting on its debts and leaving the Euro would be bad news for me, as my wife owns a small property in Greece – the Greek Hovel. He is correct: anyone with Greek assets would take an immediate hit after Grexit. But here is why I support the move anyway.
The hit the Mrs will take is twofold. Firstly the Hovel will now be valued in drachmas which will be a weak currency compared even to the failing Euro. As such the Sterling value of the property will plunge. She has probably lost 10% already and she’d lose another 25% overnight.
Secondly when the Greek banks are nationalised they