Given the current economic situation in Europe would you guys take Euros's or Sterling to Greece for your holiday?

The currency used in Greece (for now) is Euro. Not sure why you would take sterling but if you do it needs to be exchanged to euros.

I suppose that depends upon where you can get the best exchange rate, because either way you will be changing your £ for €. My guess is you will get the best exchange rate in the UK after exploring the various options. I simply bring the € left over from my last trip and top up at ATMs.

I'm lucky in that my bank doesn't charge for foreign ATM transactions, and there is no charge from the banks operating Greek ATMs. If your bank does charge by the transaction, make ATM withdrawals in fewer but larger amounts. If you decide to carry cash instead, use a money belt when out and about, and the rest of the time put it in the hotel safe.

For the record, in the unlikely event Greece does drop out of the euro, there will still be 16 other countries using that currency. Greeks will not refuse to take € from Germans, Italians, Dutch, and other eurozone citizens who comprise the majority of visitors to their country.

BTW, if you are at all worried about disruption in the banking sector (I'm not) it would be better to arrive in Greece with a wallet full of euros. I'm sure the Athens metro pickpockets would agree. ;-)

In euro, in small denomination notes like 10 and 20 euro.

That advice to bring euros in small notes has been debunked by people currently living and travelling in Greece. I'm sure the shopkeepers and restaurateurs will have plenty of small notes from people following that advice. Reportedly there is no problem whatsoever in using €50 notes, and at any rate that is what is usually dispensed by ATMs. You can go into any bank and exchange your large euro notes for smaller ones if you wish.

It depends on where and when you're travelling.

If there's still a likelihood Greece will exit the euro, that likelihood <b> inevitably means that, if it does, the banking system will freeze and ATMs will be frozen, without warning, for several days</b> The only reason we're not reading about it at present is that the greater threat overhanging Spain has taken over the headlines. Greece is still in the same mess.

If that's the case, it's worth taking a recognisable hard currency with you as insurance. If you're going somewhere like Corfu or parts of Crete (where the British are numerous and sterling's readily accepted at unextortionate rates) and if you're British, it'll be less hassle taking that hard currency as sterling than converting it all into euros - though obviously right now, and probably until at least June 17, euros are Greece's only currency.

If by the time you travel it's certain Greece will remain in the euro, you may as well just get euros in Greece from cash machines.

If neither of the above applies, then it's worth getting some euros in small notes before leaving home as insurance but sterling doesn't make a lot of sense.

Mistrust anyone saying any advice has been debunked. We've no idea how a Grexit will work. Nor have any debunkers.

Thanks for mistrusting, me, flanneruk! I've heard from several friends currently in Greece that €50 and even €100 notes are happily being accepted. It's easy to be wise from afar. Of course none of us has a crystal ball, so the situation could change. ;-)

As Heimdall said, all kind of banknotes are accepted in Greece, and that includes 200 and 500 € notes...
Greece has still the Euro, what will happen in the future, i would like to know more ,than the usual - i know everything- Cassandras of Fodors....
Happened to see a thread of one of the usual Cassandras ( an older one), where OP was convinced that Greece would exit the Eurozone in March 2012......
guess what, it didn't happen....

I wonder how people can warn others with scenarios of that precision.....

Many thanks for all the replies,I know that atm Euro is still the currany and I only ask because I have heard a number of so called experts saying that if the worst case happens then its better to have £ in your pocket rather than Euro because Sterling will still be accepted. For the record we will be going to Halkidiki and coming home the day after the election so it shouldn't affect us too much whatever happens.
Many thanks again to all of you.

My friends in Greece advise me that Euros are still being used, that in the off case that the whole thing collapses..currency will be honored as there is nothing in place to honor it. enjoy your trip, bring plastic for emergencies.

"I have heard a number of so called experts saying that if the worst case happens then its better to have £ in your pocket rather than Euro because Sterling will still be accepted".............

In banks and currency exchange businesses, yes, but not in local shops, bars, galleries and restaurants, and only in a few hotels set up for it. Forget the mom'n'pop businesses.

<<<<For the record we will be going to Halkidiki and coming home the day after the election so it shouldn't affect us too much whatever happens.>>>>
You're right, until the elction is over, as well as the next days while a coalition is likely to be attempted (all indications are that no one will get an outight win)nothing will happen as far as the euro is concerned, it is once we see who is in charge, & the reaction from the IMF/ECB that we'll know for sure.
For the record,as Brit living permanently in Greece & having to access funds via the ATM all year round I can confirm that so far there is nothing different to how it's always been, the Atm dispenses mainly 50s & they are accepted everywhere. The only possible exception is if you are buying a 50c bottle of water or something, they may not have enough change, but that would apply anywhere!
Go & enjoy your holiday, have fun & spend!!

Thanks to all, your views and advice are very much appriciated.

I think the point of having the small notes is in case Greece leaves the Euro while a person visits. It isn't surprising that Greeks are currently taking large bills. And, I am guessing they would happily take them even if they leave the euro. The question is what kind of change you would get.

Just like to say to all who replied to my post thank you all very much, we have just come back and had a great week, there were no problems at all with anything. It just goes to show how much BS there can be in the media at times.

Valleyk, thanks for your feedback.

<i> It just goes to show how much BS there can be in the media at times.</i>

Yes, and that goes for Fodor's as well!

May i ask what BS stands for?

Bull S**t
;-)