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Educational Tours and Cruises
NEWS LETTER on GREECE

UPDATE ON GREECE’S ECONOMIC  and POLITICAL SITUATION

The Greece debt crisis is a continuing drama  with the bailout program now in doubt due to the recent elections where many voters  refuse to continue to accept new  pay cuts - where most people have experienced   salary reductions i( 25-30 % ) in two years time  and large tax increases  and abolishment of many smaller and bigger tax breaks resulting in the continuing of diminishing of the size   of the once vivid Greek tourism.  Any new  Greek  government would have to renegotiate  easier terms  than the present one where  most savings go to repay interests and amounts owed to the European   Central Bank and the International Monetary Fund .   Reforms and streamlining the state burocracy  and the opening up for private investment are still required
No other European country has accepted to enforce  such measures so far without much protest.

We would like to remind you that as your ground tour operator in Greece, we will keep you informed for any future developments and occurrences, creating alternate plans to ensure always yours and your future group’s safety in Greece. Our own travel business , ETC, has kept its steady pace and had only a slight decrease in turnover with an overall increase in the number of US Colleges and Universities using our services. In fact we are looking forward to the future with confidence despite the worldwide financial crisis. Greece remains a safe, economical and beautiful destination to explore, that enlightens us with its cultural heritage and treasures.

June   2012

 

 

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