TUI prepares for euro worst

The German tour operator TUI has confirmed that it has asked Greek hoteliers to sign new contracts spelling out how it will pay them if Greece leaves the euro zone and starts using a new currency.

The President of the Greek Tourist Board, Andreas Andreadis, has reportedly said that no hotelier would sign such a contract and TUI cannot put pressure on hoteliers to do that.

A report in German newspaper Bild quoted the letter as saying: “If the euro should no longer be the currency (…), TUI is entitled to pay the sum of money in the new currency. The exchange rate shall be made at the exchange rate set by the government.”

TUI said it was just acting as a responsible company, and protecting itself.

Tourism is key for Greece’s 230-billion-euro economy and accounts for about a fifth of the country gross domestic product. More than two million Germans travelled to Greece last year, making them the biggest group of visitors there.

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