Cyprus-Forum.com

[dinos]

The euro has withstood some of the worlds worst financial repercussions as a result
of the incompetent Greeks the carefree Spanish the careless Irish and the laid back Portugese
it is , the euro , the worlds most dynamic currency having taken over from the once mighty
US $ , Germany which for years now has been the worlds largest exporter ,
only last year second to china , has a great deal to gain by supporting the weaker economies
withing the eurozone .
Posting using my iPhone so no spell check !!!!
Ps: how do to you spell blonger ?!!!!!

OK, you're going a bit too far here. It's true that the US Peso has taken a drubbing the last 5 years or so, but I would hardly say that it's been replaced by the Euro. How many countries peg their currencies to USD? And many peg to the Euro? OK, that's what I thought...

Any exporting country such as Germany would want a cheap home currency to give their exports an edge over competing countries. It just seems like the Euro cheerleading isn't quite taking this into account. But while we're on this subject, my crystal ball is showing me a picture where the yuan replaces both USD and the Euro. This will bring both currencies down substantially and won't be pretty for either one.

As far as Euro benefits to Cyprus, it sure does seem like that 15% VAT is earning everyone a trend of increasing crime, problems with illegal immigration, etc, etc. At this rate, we should be fast-tracking the Turks into Euroland with every bit of zeal we can muster!

[DANGAMAN]

Thinking back we had illegal immigrants since appox 2000, this is not new to us. As crime goes I asked a friend of mine who works in the CID who commits most of these crimes, locals (Cypriots) or foreigners in general (non Cypriots) ?

His answer was (Non Cypriots ) keep them busy, however a huge piece of the pie is committed by Cypriots.

Going back a few years I remember builders used to charge whatever they wanted giving appalling service and workmanship for crazy prices. Now with foreigners (including unemployment) prices are a lot more reasonable.

I have also heard of Romanians getting a contract to build then giving sub-contraction to Cypriots...

I say good for them, they should of took care of us (the locals) and they would have had work for a lifetime.... Too late now.

[miltiades]

The euro has withstood some of the worlds worst financial repercussions as a result
of the incompetent Greeks the carefree Spanish the careless Irish and the laid back Portugese
it is , the euro , the worlds most dynamic currency having taken over from the once mighty
US $ , Germany which for years now has been the worlds largest exporter ,
only last year second to china , has a great deal to gain by supporting the weaker economies
withing the eurozone .
Posting using my iPhone so no spell check !!!!
Ps: how do to you spell blonger ?!!!!!

OK, you're going a bit too far here. It's true that the US Peso has taken a drubbing the last 5 years or so, but I would hardly say that it's been replaced by the Euro. How many countries peg their currencies to USD? And many peg to the Euro? OK, that's what I thought...

Any exporting country such as Germany would want a cheap home currency to give their exports an edge over competing countries. It just seems like the Euro cheerleading isn't quite taking this into account. But while we're on this subject, my crystal ball is showing me a picture where the yuan replaces both USD and the Euro. This will bring both currencies down substantially and won't be pretty for either one.

As far as Euro benefits to Cyprus, it sure does seem like that 15% VAT is earning everyone a trend of increasing crime, problems with illegal immigration, etc, etc. At this rate, we should be fast-tracking the Turks into Euroland with every bit of zeal we can muster!

The Euro has steadily been replacing the US $ as the top global currency. In reality the dollar still is the most widely held currency having dropped from around 70% down to just over 62% while the Euro now stands at around 27% . Given the fact that the worlds largest oil produces still peg their currencies to the $ , only just , with Saudi Arabia leading the field influenced not by economics but by political influences. Not long ago Alan Greenspan predicted that the Euro would replace the dollar in due course.
Do remember that the Euro is still in its embryonic state and it has to face severe tests to determine its resistance to adverse financial developments in the less well off member states.
There is no doubt that sooner rather than later the share of the Euro will increase as it is already doing so at the moment. The oil producing countries with their huge dollar reserves are in my opinion keeping the dollar as the most widely held reserve currency.

[miltiades]

The Euro closed yesterday at 1.1476 against STG while against the $ it finished at 1 dollar = 0.725 euro (1.379 us $)
Interesting to see how next week develops , my instinct is that this time next week STG will be below 1.14 I forecast 1.125. Watch this space !!

The Dollar Index, which IntercontinentalExchange Inc. uses to track the greenback against six major counterparts, extended its biggest monthly decline since May 2009 when it fell 6.2 percent.
http://www.bloomberg.com/news/2010-10-0 ... llure.html

[dinos]

The euro has withstood some of the worlds worst financial repercussions as a result
of the incompetent Greeks the carefree Spanish the careless Irish and the laid back Portugese
it is , the euro , the worlds most dynamic currency having taken over from the once mighty
US $ , Germany which for years now has been the worlds largest exporter ,
only last year second to china , has a great deal to gain by supporting the weaker economies
withing the eurozone .
Posting using my iPhone so no spell check !!!!
Ps: how do to you spell blonger ?!!!!!

OK, you're going a bit too far here. It's true that the US Peso has taken a drubbing the last 5 years or so, but I would hardly say that it's been replaced by the Euro. How many countries peg their currencies to USD? And many peg to the Euro? OK, that's what I thought...

Any exporting country such as Germany would want a cheap home currency to give their exports an edge over competing countries. It just seems like the Euro cheerleading isn't quite taking this into account. But while we're on this subject, my crystal ball is showing me a picture where the yuan replaces both USD and the Euro. This will bring both currencies down substantially and won't be pretty for either one.

As far as Euro benefits to Cyprus, it sure does seem like that 15% VAT is earning everyone a trend of increasing crime, problems with illegal immigration, etc, etc. At this rate, we should be fast-tracking the Turks into Euroland with every bit of zeal we can muster!

The Euro has steadily been replacing the US $ as the top global currency. In reality the dollar still is the most widely held currency having dropped from around 70% down to just over 62% while the Euro now stands at around 27% . Given the fact that the worlds largest oil produces still peg their currencies to the $ , only just , with Saudi Arabia leading the field influenced not by economics but by political influences. Not long ago Alan Greenspan predicted that the Euro would replace the dollar in due course.
Do remember that the Euro is still in its embryonic state and it has to face severe tests to determine its resistance to adverse financial developments in the less well off member states.
There is no doubt that sooner rather than later the share of the Euro will increase as it is already doing so at the moment. The oil producing countries with their huge dollar reserves are in my opinion keeping the dollar as the most widely held reserve currency.

Understood that there was some nuance in the post I quoted that I didn't see. While Europe is definitely not as weak as a lot of pundits would have people believe, I still don't think it's worth this level against USD at this point (although not worth too much lower) in my opinion.

By the way, don't get me started on Greenspan - this is the guy that was pushing those non-conforming (read: alt-a, subprime, neg-am and ninja) loans as the best thing since sliced bread. We all know what happened - they were securitized, filling the world with AAA-rated koloharto. He has been wrong many times and still won't take responsibility for his contributions to the current state of various economies.

There's no doubt that USD is losing out to some extent to the Euro. It just hasn't been replaced yet and I'm happy to hold to my opinion that it won't be the Euro that leads people away from it (although I'm not too stubborn to change my mind if things start working out differently).

Either way, I'm happy to discuss the topic with you as you've obviously done some fact-checking and are free from the shackles of idiotic conspiracy theories. Hope you're well...

[DATOMOS]

"My currency is stronger than yours Nah Nah Na Na Na !!!"

It is very naive to see relative currency prices as some sort of macho national competition. They are merely rates of exchange. They are not measures of national esteem.
It is unfortunate that terms like "strong" and "weak" are used as they serve to confuse the economically illiterate.
A "strong" Euro relative to the Pound and other currencies is bad news for Cyprus, because it damages both its tourist and property industries. A "strong" Euro makes Cyprus less competitive, because it makes it difficult for Cyprus to sell things to non Eurozone countries (like holidays and houses) but easier for non Eurozone countries to sell things to Cyprus.
Cyprus has given up control of its own economy.
A "strong" Euro if you have "strong" economy like Germany is fine but a "strong" Euro with a weak economy like Cyprus is bad news.
The value of the Euro will always be fixed to suit Germany and never to suit Cyprus.

[Get Real!]

A "strong" Euro if you have "strong" economy like Germany is fine but a "strong" Euro with a weak economy like Cyprus is bad news.

Cyprus doesn't have a weak economy.

[Paphitis]

The euro has withstood some of the worlds worst financial repercussions as a result
of the incompetent Greeks the carefree Spanish the careless Irish and the laid back Portugese
it is , the euro , the worlds most dynamic currency having taken over from the once mighty
US $ , Germany which for years now has been the worlds largest exporter ,
only last year second to china , has a great deal to gain by supporting the weaker economies
withing the eurozone .
Posting using my iPhone so no spell check !!!!
Ps: how do to you spell blonger ?!!!!!

OK, you're going a bit too far here. It's true that the US Peso has taken a drubbing the last 5 years or so, but I would hardly say that it's been replaced by the Euro. How many countries peg their currencies to USD? And many peg to the Euro? OK, that's what I thought...

Any exporting country such as Germany would want a cheap home currency to give their exports an edge over competing countries. It just seems like the Euro cheerleading isn't quite taking this into account. But while we're on this subject, my crystal ball is showing me a picture where the yuan replaces both USD and the Euro. This will bring both currencies down substantially and won't be pretty for either one.

As far as Euro benefits to Cyprus, it sure does seem like that 15% VAT is earning everyone a trend of increasing crime, problems with illegal immigration, etc, etc. At this rate, we should be fast-tracking the Turks into Euroland with every bit of zeal we can muster!

The Euro has steadily been replacing the US $ as the top global currency. In reality the dollar still is the most widely held currency having dropped from around 70% down to just over 62% while the Euro now stands at around 27% . Given the fact that the worlds largest oil produces still peg their currencies to the $ , only just , with Saudi Arabia leading the field influenced not by economics but by political influences. Not long ago Alan Greenspan predicted that the Euro would replace the dollar in due course.
Do remember that the Euro is still in its embryonic state and it has to face severe tests to determine its resistance to adverse financial developments in the less well off member states.
There is no doubt that sooner rather than later the share of the Euro will increase as it is already doing so at the moment. The oil producing countries with their huge dollar reserves are in my opinion keeping the dollar as the most widely held reserve currency.

I beg to differ. The Euro isn't even mentioned on Australian Currency exchanges because we don't peg the Aussie dollar to it, and are far more interested in Asian Markets anyway!

Also, the Euro is not doing too well when compared to the Tiger Economies of Asia and the Australian Dollar! In about a year, the Australian Dollar has gained 30% on the Euro, which means that the EU is in a lot of trouble, as is the US Dollar and GBP. The Australian Dollar is about to surpass the USD within the next few weeks. The bright sparks are in Asia, and they're driving Australian Commodity prices through the roof!

They manufacture goods, we sell them the Energy and materials and then we buy those goods from them at a cheap price. That is how the Global Economy is going!

[miltiades]

The euro has withstood some of the worlds worst financial repercussions as a result
of the incompetent Greeks the carefree Spanish the careless Irish and the laid back Portugese
it is , the euro , the worlds most dynamic currency having taken over from the once mighty
US $ , Germany which for years now has been the worlds largest exporter ,
only last year second to china , has a great deal to gain by supporting the weaker economies
withing the eurozone .
Posting using my iPhone so no spell check !!!!
Ps: how do to you spell blonger ?!!!!!

OK, you're going a bit too far here. It's true that the US Peso has taken a drubbing the last 5 years or so, but I would hardly say that it's been replaced by the Euro. How many countries peg their currencies to USD? And many peg to the Euro? OK, that's what I thought...

Any exporting country such as Germany would want a cheap home currency to give their exports an edge over competing countries. It just seems like the Euro cheerleading isn't quite taking this into account. But while we're on this subject, my crystal ball is showing me a picture where the yuan replaces both USD and the Euro. This will bring both currencies down substantially and won't be pretty for either one.

As far as Euro benefits to Cyprus, it sure does seem like that 15% VAT is earning everyone a trend of increasing crime, problems with illegal immigration, etc, etc. At this rate, we should be fast-tracking the Turks into Euroland with every bit of zeal we can muster!

The Euro has steadily been replacing the US $ as the top global currency. In reality the dollar still is the most widely held currency having dropped from around 70% down to just over 62% while the Euro now stands at around 27% . Given the fact that the worlds largest oil produces still peg their currencies to the $ , only just , with Saudi Arabia leading the field influenced not by economics but by political influences. Not long ago Alan Greenspan predicted that the Euro would replace the dollar in due course.
Do remember that the Euro is still in its embryonic state and it has to face severe tests to determine its resistance to adverse financial developments in the less well off member states.
There is no doubt that sooner rather than later the share of the Euro will increase as it is already doing so at the moment. The oil producing countries with their huge dollar reserves are in my opinion keeping the dollar as the most widely held reserve currency.

I beg to differ. The Euro isn't even mentioned on Australian Currency exchanges because we don't peg the Aussie dollar to it, and are far more interested in Asian Markets anyway!

Also, the Euro is not doing too well when compared to the Tiger Economies of Asia and the Australian Dollar! In about a year, the Australian Dollar has gained 30% on the Euro, which means that the EU is in a lot of trouble, as is the US Dollar and GBP. The Australian Dollar is about to surpass the USD within the next few weeks. The bright sparks are in Asia, and they're driving Australian Commodity prices through the roof!

They manufacture goods, we sell them the Energy and materials and then we buy those goods from them at a cheap price. That is how the Global Economy is going!

Sorry mate but the Aussie Dollar doesn't exactly fit into the European and American currency platforms !!!
As you know China takes payment in dollars , STG and Euro !!

The Euro today is trading at 1.143 against STG , MMR rate .It looks as if my earlier forecast of the pound trading at below 1.13 euros might just be around the corner. Frankly I think the UK has very acute financial problems right now which have an adverse affect on STG .

[cyprusgrump]

The euro has withstood some of the worlds worst financial repercussions as a result
of the incompetent Greeks the carefree Spanish the careless Irish and the laid back Portugese
it is , the euro , the worlds most dynamic currency having taken over from the once mighty
US $ , Germany which for years now has been the worlds largest exporter ,
only last year second to china , has a great deal to gain by supporting the weaker economies
withing the eurozone .
Posting using my iPhone so no spell check !!!!
Ps: how do to you spell blonger ?!!!!!

OK, you're going a bit too far here. It's true that the US Peso has taken a drubbing the last 5 years or so, but I would hardly say that it's been replaced by the Euro. How many countries peg their currencies to USD? And many peg to the Euro? OK, that's what I thought...

Any exporting country such as Germany would want a cheap home currency to give their exports an edge over competing countries. It just seems like the Euro cheerleading isn't quite taking this into account. But while we're on this subject, my crystal ball is showing me a picture where the yuan replaces both USD and the Euro. This will bring both currencies down substantially and won't be pretty for either one.

As far as Euro benefits to Cyprus, it sure does seem like that 15% VAT is earning everyone a trend of increasing crime, problems with illegal immigration, etc, etc. At this rate, we should be fast-tracking the Turks into Euroland with every bit of zeal we can muster!

The Euro has steadily been replacing the US $ as the top global currency. In reality the dollar still is the most widely held currency having dropped from around 70% down to just over 62% while the Euro now stands at around 27% . Given the fact that the worlds largest oil produces still peg their currencies to the $ , only just , with Saudi Arabia leading the field influenced not by economics but by political influences. Not long ago Alan Greenspan predicted that the Euro would replace the dollar in due course.
Do remember that the Euro is still in its embryonic state and it has to face severe tests to determine its resistance to adverse financial developments in the less well off member states.
There is no doubt that sooner rather than later the share of the Euro will increase as it is already doing so at the moment. The oil producing countries with their huge dollar reserves are in my opinion keeping the dollar as the most widely held reserve currency.

I beg to differ. The Euro isn't even mentioned on Australian Currency exchanges because we don't peg the Aussie dollar to it, and are far more interested in Asian Markets anyway!

Also, the Euro is not doing too well when compared to the Tiger Economies of Asia and the Australian Dollar! In about a year, the Australian Dollar has gained 30% on the Euro, which means that the EU is in a lot of trouble, as is the US Dollar and GBP. The Australian Dollar is about to surpass the USD within the next few weeks. The bright sparks are in Asia, and they're driving Australian Commodity prices through the roof!

They manufacture goods, we sell them the Energy and materials and then we buy those goods from them at a cheap price. That is how the Global Economy is going!

Sorry mate but the Aussie Dollar doesn't exactly fit into the European and American currency platforms !!!
As you know China takes payment in dollars , STG and Euro !!

The Euro today is trading at 1.143 against STG , MMR rate .It looks as if my earlier forecast of the pound trading at below 1.13 euros might just be around the corner. Frankly I think the UK has very acute financial problems right now which have an adverse affect on STG .

And the Eurozone doesn't?

Quote of the day that is!