Sunday, 25 September 2020 2:10 PM

What are the consequences for you if Greece goes bankrupt?

Greece is in the news, is the country going bankrupt or not? What would that mean for our wallet? It is difficult to predict what will happen when Greece goes under. Yet there are some aspects that we can offer you a view. First of all, there is a very good chance that you will pay more tax in the future. The Netherlands will have to find compensation for the loss we will incur for the bonds that have been put into the country. Moreover, the government will have to put money into the European emergency fund.

The Dutch banks will also feel it in their balance sheets, but not as badly as the German and French banks, which have invested much more in Greece than we have. Are you concerned about the possibility that your savings may be gone should your bank go bankrupt? Check whether your bank has a Dutch banking license, with these banks up to 100,000 US dollars per person is guaranteed through the deposit guarantee system.

Another aspect is that the investments of the pension funds will become worth less because of low interest rates. But good news for travel enthusiasts; we can probably remember a cheap holiday to the country of the Souvlaki and broken plates.


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