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July 1, 2015 - Coming Soon: A Greek Return to the Drachma

Meet the New Boss, Same as the Old Boss.

If you start hearing "Greek government" and "IOUs" in the same sentence, this means the euro in Greece is effectively dead or on life support, and that those IOUs are in effect a new currency, or basically the old currency: the drachma.

So now a net importer (i.e., a debtor country) might be on its way out of the European Union's common currency, the euro. One less country to balance the ledger, one less country on the "wrong" side of Spain and Portugal and Italy. Which means, simply, Spain is the new Greece. Take your money and run for the hills. Or better: run to Belize.

I've said it before and I'll say it again: any country within the Eurozone is fundamentally unsafe for your money. The inherent restraints imposed by the rules and regulations governing the common currency cripple a sovereign nation's response mechanisms when its respective economy (or the whole world economy ... see 2008) takes a downturn. So the euro worked decently when the going was good. But as soon as the good got bad, the stability of the euro got going.

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It may have resembled a slow-motion car crash, but: "Today Greece faces calamity. Banks have been closed for more than a week and the economy is deteriorating at an accelerating rate. Citizens and businesses can’t easily carry on with their normal lives; the tourism industry is plagued by cancellations; companies are postponing paying their workers."

Yikes. Not a safe environment for your money. Which is probably why you're reading this, and guess what? You're in luck. There are many tax free, investor-friendly ways to move your money overseas. Belize overseas offshore banking is a great place to start. Belize has a reputation for being among the best countries for offshore companies, international business companies (IBCs), offshore banking, offshore trusts, and offshore foundations. Our laws allow you to set up a Belize offshore company or offshore corporation, for instance, in a confidential, tax-efficient manner.

What's the first step in setting up a Belize offshore company or other investment mechanism (offshore trust, offshore foundation, etc.)? Call or chat with us today.

References

  • The New York Times

  • RT.com

  • The Daily Telegraph



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