The economic problems currently being faced by Greece may result in the country pulling out of the EU and re-establishing its old currency - the drachma - instead of the euro. Banks in Europe are scrambling to make provisions for such an eventuality. Recently, the leading German travel operator TUI sent out letters to hotels in Greece asking them to renegotiate their rates in drachmas to avoid losses in case Greece pulls out of the euro.
But currency woes are not limited to Greece. On November 24, the credit rating agency, Moody's, downgraded Hungary's ratings to "junk" - and the value of the Hungarian currency - the florint fell by 6% to 238 Florint per US$. Although Hungary is part of the European Union, it has not yet integrated its currency with the Euro. Another ratings agency, Fitch, declared on Friday, Nov 26, that Portugal's government bonds were worth "junk" exacerbating the already difficult economic scene in Europe.
Italy lost its Prime Minister Berloscuni due to their economic woes while Spain and Belgium are also facing similar problems.
If Greece starts using the drachma, travelers will benefit from lower prices and Greek tourism may see a big inflow of tourists.
Located on the beautiful island of Lhaviyani Atoll, Kuredu Island Resort is quite popular for its sea life, beautiful beaches and tropical plants. It is 80 miles north of the International Hulhule Airport. It has 300 rooms, tastefully decorated with bamboo furniture. There are five restaurants at the resort offering traditional Maldivian atmosphere, which is open walls and thatched roofs. The Gril...
The largest museum in Bahrain, the National Museum is a must-see for history enthusiasts; it is a goldmine of archaeological discoveries and Bahraini cultural relics. The Museum contains most remarkably, an entire dug up tomb as well as intricately carved seals and Sumerian, Babylonian, and Assyrian writing that assert Bahrain’s trading history. Other treasures include; the dioramas of Bahraini cr...
Located in Salmiya, The Scientific Centre in Kuwait serves as a hub for environmental education for the gulf region and also the largest aquarium in the Middle East. The three main attractions at the centre are the IMAX theatre, Discovery Place and Aquarium. Built with some of the most advanced technological equipment today, the center’s interiors are heavily influenced by Kuwaiti and Islamic art....
Montreal promises quality time to both adults and kids. The ongoing year-round festivals are usually family-oriented, and so are most public places around the city. Some venues also offer child-specific activities. Some of them are: 1. Montreal Science Centre: Location: 333, de la Commune Street West, Montréal (Québec), H2Y 2E2. Telephone: 1 877 496-4724 or (514) 496-4724 Fax: (514) ...