Cyprus-Forum.com

[sirox101]

anyone out there whos in the know about this ?will cyprus be on its arse when they join the euro or is it for the better ?

[devil]

Yes! Many retailers will take the opportunity to round up all their prices to the nearest 5 c for prices under £5, to the nearest 10 c for prices between £5 and £25 and 50 c above that.

OTOH, Carrefour have undertaken to round their prices DOWN, which is good, but will others follow their lead?

[Bill]

I guess the one pound shop will become the 2 Euro shop then

Bill

[jambo]

it will have an effect,
we are changing our prices now, to display in both.

[621andy]

If it's anything like Germany and France, then prices will drop for the first few months, then rise steadily.

I was in Germany when the € came in. It was set so that 1DM=.50€ cents. This meant it was easy to work out the rate, and everything 'seemed' half price if you were used to the DM.
Very quickly, prices did in fact double, and if you compare like for like pricewise now, it's more than double.

Germany at that time was the force in Europe, now it's probably one of the weakest, with huge unemployment rates, and businesses collapsing all over.

I was working in France in the summer of the €. It was more difficult for businesses to creep the price up because the 'exchange' rate was so complicated to work out, that prices were marked in both F and € for at least a year after the official start of the €. Prices have however shot up there too...

All in all, I'd go for the doom and gloom prediction... [/i]

[sirox101]

have to say thats my choice to i wont be long until brussels forces a realistic min wage on cyprus and if its enforced its fuked to put it bluntley the country relies on cheap labour and will be screwed without it iv seen the job boards and agency web sites the pays a joke compaired with the rest of europe only time will tell but with no major export apart from holidays its not looking good especialy being so close to the looney toons in iran. iraq and lebanon and they not talking to turkey (major port) and greece is miles away for shipping its sounding like a bad investment buying there dont know what other people think ? am i wrong

[NOVELTY VEND]

We base our prices on the Euro first, so next year there is no or very little change.

But a lot more difficult when your selling products from a vending machine!

And in Jan' we have to change EVERY machine coin mech!!!

[miltiades]

Well it will make us "Charlies " very happy , since for years we would change our Stg to Cyprus pounds and would only get 80 pounds for every 100 of ours !! So here you have it , for every one pound we will get 1.40 !!!
Seriously though for years I have argued with English Cypriots that changing a £1000.00 Sterling and obtaining £800 or so Cy.£s does not translate into loosing £200.00 , but to no avail. Still many consider they loose out.

[cyprusgrump]

I wonder how much cash has been taken abroad and turned into ‘black Euros’?

[Southerner]

We ought to be used to the exchange rate rip-off the airlines have been doing it for years on your return flights.
Thomsons must be making £millions a year out of exhorbitant rates on their flights almost like for like.