My experience living in Athens as the Greece tragedy unfolded

Hello and Merry Christmas!

I've submitted an article to this Finance website on my 3 years' experience in Greece.

Just thought it would be a good way to reveal a bit of myself.

Yes, I am an IKEA guy

Hope you can share your comments at the bottom of the article what you think. Thanks!

http://www.nextinsight.net/index.php/sto...y-unfolded

Nice article. Thanks for sharing.

One thing I would like to understand, do you believe that Greece will leave EU or rather Greece & EU have the determination to resolve the current crisis (with reference to the people on the ground and their political determination)?

In my opinion, the ongoing riots in Greece only shows that they are not willing to bite the bullets after so many years of overspending.

Merry Christmas!
Thanks

Hello VIChris,

The Greeks who understand economics 101 will not want to leave the Euro. It's a bit like losing your job and you have to move back to your parents (or worst still your in-laws). You would rather endure the nagging and condescension, than to sleep on the streets. The plan will be to either regain your strength and move out; or milk the "kindness" until your parents kick you out!

Can you imagine the pain of paying your loans in Euros with new depreciated Dhramas? Or having all your life savings/pensions in Euros turned into Dhramas that's worth 1/4 or 1/3 of the Euros? Those who own real assets or have transferred their wealth overseas in properties, gold or other currencies will be less affected.

It's a wake up call for me. We don't think or plan WHAT currencies our net worth should be denominated in - Singaporean high net-worth customers tend to have most assets in SGD (we are lucky as our SGD has only appreciated since independence); but if you look at high net-worth customers from our SEA region, their assets are denominated in a wider mix of currencies. They have not forgotten the Asian currency lessons of 97...

By the way, don't focus on Greece. It's sad but they are "insignificant". Focus on Spain and Italy. Either of these countries will force the politicians hand in due time - especially the Germans.

Put yourself in the German's shoes. Imagine Singapore govt says we have to use our reserves to "rescue" one of our Asean neighbours... Would you vote for it? But if you don't vote for it, the alternative is for the ECB to print money - that will also mean the Germans will see their savings eroded by inflation - allow themselves to be pulled down by their neighbours. Solidarity?

It's sad and cold to say this, but the people protesting on the streets in Europe will be screwed many times over. It's the cool headed and financially literate ones that will be less affected. The rich moving their assets overseas, the young and talented ones have already left or emigrating overseas for jobs and a new beginning. First mover advantage.

Greeks go to UK, US, or Australia. Spaniards and Portuguese go to Latin America. If the European crisis worsen, don't be surprise some will come to Asia and may even land in Singapore.

It's the classic conundrum. If no one comes to Singapore, that would mean Singapore is also in deep Sh**... But if Singapore continues to power ahead economically, many from overseas will come and on local terms!

Out of curiosity, did you get to catch a glimpse of IKEA founder Ingvar Kamprad?

Yes Pursuitofknowledge,

I met him in Sweden at the company's canteen.

It's the classic: I know him; he don't know me. LOL! I too low on the food chain

He reminds me of Lao Lee. Ingvar created a business empire; Lao Lee a country.

Both won't rest and never will retire from their "baby".

(26-12-2011, 05:08 PM)Jared Seah Wrote: Yes Pursuitofknowledge,

I met him in Sweden at the company's canteen.

It's the classic: I know him; he don't know me. LOL! I too low on the food chain

He reminds me of Lao Lee. Ingvar created a business empire; Lao Lee a country.

Both won't rest and never will retire from their "baby".

No lah, big difference between the two.

Lao Lee inherited Britain's crown jewel. S'pore certainly isn't the swampy fishing village it was made out to be by his propaganda.

Lao Lee not wanting to let go I suspect is because there are too many skeletons in the closet.

Hello kichialo,

I born in 67, so can't have first hand knowledge. But from the history books, I believe Singapore in 65 wasn't much of a "crown jewel".

Maybe other forum members who were working adults in 65 can share more?

I thought when we were "kicked-out", we were expected to crawl back and accept their terms? No one expected us to survive on our own...

I am always grateful to the generations of Singaporeans before me who made it possible for us all. We are merely standing on the shoulders of giants before us.

No matter how bleak today's future maybe, surely it can't be as bad as in 65?

How many had education or housing then?

Perspective is very humbling.

(26-12-2011, 06:02 PM)Jared Seah Wrote: Hello kichialo,

I born in 67, so can't have first hand knowledge. But from the history books, I believe Singapore in 65 wasn't much of a "crown jewel".

Maybe other forum members who were working adults in 65 can share more?

I thought when we were "kicked-out", we were expected to crawl back and accept their terms? No one expected us to survive on our own...

I am always grateful to the generations of Singaporeans before me who made it possible for us all. We are merely standing on the shoulders of giants before us.

No matter how bleak today's future maybe, surely it can't be as bad as in 65?

How many had education or housing then?

Perspective is very humbling.

You might as well say there are iPads or 3D TVs today while there was only a handful of black and white CRT TVs in 1965 and therefore you are forever grateful.

Hi Jared
U have an interesting career. I am abt 5 years younger and sometimes envy those who worked overseas.
Can I ask you a few Qs on ur previous job as Supply Dev Mgr? Is this related to supply chain management?
What are the pre-requiste for such a job? Tks.

Hello header,

Yes, it's to optimised the supply networks in IKEA. I did not study Supply Chain. I stumbled into Supply Chain I think because of my retailing (selling) and merchandising (buying) experience. Retailing is about buy and sell.

Having said that, most of our younger colleagues came from RMIT in Australia where they got Degrees in Supply Chain Management; and most of them were former Poly graduates too.

There are many global MNCs in Singapore - Apple (now that's super cool!), Timberland, P&G, HP, etc. And don't overlook Trading companies like Li & Fung. It's better you approach their HRs to find out what they require.

Some companies are very paper oriented (I'll never get in); but some care more about attitude, character, and motivation of their co-workers

---

Kichialo,

Hey, I do! My glass is always half-full.

I remember during 1975 our neighbour got the first colour TV in our row of HDB flats. The good thing about being 8 or 9 years young is that we very thick skin. The neighbourhood gang (5 to 7 of us) will often pop up and shout: "Auntie, is Tianci home?" LOL! Those were simpler times when neighbours don't close their doors (no air-con or kampong spirit?). The neighbour's mom was so kind as to allow us urchins into her home to watch free colour TV!

Eh... My Singapore HDB is still using the 21 inch CRT TV. But its in colour!

I guess that's the advantage of starting from a low base. I am always looking up to the stars

Best wishes and great tidings to you!

Jared -An agnostic who has been touched by the Book of Job