Cyprus-Forum.com

[cyprusgrump]

So how exactly did they make a loss on their 'investment'?

The interest rate payments (30%) alone over the last few years were more than these adjusted 'investments'!

In simple terms I suppose they made a loss because the amount they lent Greece on agreed commercial terms was suddenly written down by €100,000,000,000 on a 'take 50% or lose everything' basis...

A bit like going to the supermarket, paying the bill and the girl at the till then taking half of everything out of your trolley - even though you'd shopped there for years and contributed to their profits and growth by doing so....

[GreekIslandGirl]

So how exactly did they make a loss on their 'investment'?

The interest rate payments (30%) alone over the last few years were more than these adjusted 'investments'!

In simple terms I suppose they made a loss because the amount they lent Greece on agreed commercial terms was suddenly written down by €100,000,000,000 on a 'take 50% or lose everything' basis...

A bit like going to the supermarket, paying the bill and the girl at the till then taking half of everything out of your trolley - even though you'd shopped there for years and contributed to their profits and growth by doing so....

Seems more like dividends paid out from profits to share-holders to me.

- So no one actually made any losses on their investments. They were paid nearly 30% over 4 years and now get paid 20% on money they borrowed at 2%. Bloody exorbitant!

Meanwhile:

Somebody answer me this:

If the Euro has (supposedly) suffered so badly, since Greece joined in 2001, how come it has soared from 1.6, around the time Greece joined, to 1.2 (now) against Sterling (its equivalent European currency)?

http://www.xe.com/currencycharts/?from= ... R&view=10Y

[cyprusgrump]

So how exactly did they make a loss on their 'investment'?

The interest rate payments (30%) alone over the last few years were more than these adjusted 'investments'!

In simple terms I suppose they made a loss because the amount they lent Greece on agreed commercial terms was suddenly written down by €100,000,000,000 on a 'take 50% or lose everything' basis...

A bit like going to the supermarket, paying the bill and the girl at the till then taking half of everything out of your trolley - even though you'd shopped there for years and contributed to their profits and growth by doing so....

Seems more like dividends paid out from profits to share-holders to me.

- So no one actually made any losses on their investments. They were paid nearly 30% over 4 years and now get paid 20% on money they borrowed at 2%. Bloody exorbitant!

Meanwhile:

Somebody answer me this:

If the Euro has (supposedly) suffered so badly, since Greece joined in 2001, how come it has soared from 1.6, around the time Greece joined, to 1.2 (now) against Sterling (its equivalent European currency)?

http://www.xe.com/currencycharts/?from= ... R&view=10Y

You see, and this would just be a guess on my part as I'm not a financial expert....

But I'd guess that those guys didn't find two hundred billion €uros under their bed one day and decide to lend it to Greece at exorbitant interest rates...

I'd guess that the money was in itself borrowed or leveraged against other security and there was some insurance to pay... I'd imagine that if you were lending to basket case Greece the insurance would have been quite high...

To suggest that these guys could borrow two hundred billion €uros at 2% and then lend it out to Greece at 30% (making presumably 28% profit?) shows a naivety on your behalf which quite frankly beggars belief!

Either Greece was completely stupid to borrow at 30% when the funds were available at 2% or (once again) your argument holds no water....

[GreekIslandGirl]

So how exactly did they make a loss on their 'investment'?

The interest rate payments (30%) alone over the last few years were more than these adjusted 'investments'!

In simple terms I suppose they made a loss because the amount they lent Greece on agreed commercial terms was suddenly written down by €100,000,000,000 on a 'take 50% or lose everything' basis...

A bit like going to the supermarket, paying the bill and the girl at the till then taking half of everything out of your trolley - even though you'd shopped there for years and contributed to their profits and growth by doing so....

Seems more like dividends paid out from profits to share-holders to me.

- So no one actually made any losses on their investments. They were paid nearly 30% over 4 years and now get paid 20% on money they borrowed at 2%. Bloody exorbitant!

Meanwhile:

Somebody answer me this:

If the Euro has (supposedly) suffered so badly, since Greece joined in 2001, how come it has soared from 1.6, around the time Greece joined, to 1.2 (now) against Sterling (its equivalent European currency)?

http://www.xe.com/currencycharts/?from= ... R&view=10Y

You see, and this would just be a guess on my part as I'm not a financial expert....

But I'd guess that those guys didn't find two hundred billion €uros under their bed one day and decide to lend it to Greece at exorbitant interest rates...

I'd guess that the money was in itself borrowed or leveraged against other security and there was some insurance to pay... I'd imagine that if you were lending to basket case Greece the insurance would have been quite high...

To suggest that these guys could borrow two hundred billion €uros at 2% and then lend it out to Greece at 30% (making presumably 28% profit?) shows a naivety on your behalf which quite frankly beggars belief!

Either Greece was completely stupid to borrow at 30% when the funds were available at 2% or (once again) your argument holds no water....

Well, now we've come full circle as to why people shouldn't jump on the bandwagon and badmouth Greece simply because the HFMs/bankers say they are a bad egg.

Certain countries have excellent PR to con everyone that they are better off than others and so con richer countries (China etc) into lending them cheaply. It further pays them to scapegoat others (like Greece) as being worse than they actually are. Thus raising their (Greece's) borrowing costs. So Britain or Germany (pretending they are better off than they actually are - see my top 20 debtors link from earlier) borrow at ~2% (fact, see link) and lend to Greece at 30% (fact). Crazy? But, true!

http://blogs.news.sky.com/therealeconom ... 72254b7003

Last week Germany paid the lowest rate in its history to borrow for 10 years, paying an average of 1.47pc.

http://www.telegraph.co.uk/finance/fina ... bonds.html

Greece isn't allowed to borrow cheaply! How it started, back in 2010:

“But the Germans say the Greeks have lived beyond their means, they must solve their problems themselves” – and thus pay 3 percentage points more in interest, or twice as much, as Berlin pays on its 10-year bonds.

http://www.ft.com/cms/s/0/e1370d50-409a ... z1vofwHiL5

We've been told Greece is going to default; Greece is going to leave the Eurozone blah blah for soooo long that lenders have used these scaremongering (of their own making) to justify themselves lending to Greece at these massive interest rates. All the time (as I have already said) they know Greece is the most pro-Euro country of all. Which is precisely why they are a SAFE bet for these loans generating huge profits to the 'investors'!

[Lordo]

I gather Greek song is quite good and may actually win, so how will they be able to host it next year?

I guess all they need is the Parthenon and a mike. Never mind the mechanics. Dead cheap.

[B25]

I gather Greek song is quite good and may actually win, so how will they be able to host it next year?

I guess all they need is the Parthenon and a mike. Never mind the mechanics. Dead cheap.

Just like they hosted the Olympics that your motherland has never done Who the hell wants to fo to a barbaric terrorist country like turkey? FFS.

[boomerang]

the problem didn't start 2 or 3 years ago...the problem started when greece as soon as she joined the eurozone, read via cooking the books, borrowed money, on the cheap then and squandered it...now that is time to pay shit hits the fan dragging the whole of the eurozone down the gutter...

a quick reminder to the "honourable member GIG" that a couple of these lenders that you classified as loan sharks with a co called profiteering tag are cypriot banks on the verge of bankrupsy...but expected coz you are a greek...

greece will leave the eurozone like it or not and in an orderly fashion causing min disruption to the eurozone...this is what these bailouts are all about, easing greece out of the eurozone...short term chaos but long term prosperity...greece needs to control her own currency...there will be a massive devaluation of the drahma, to attract foreign investment, inflation will move to 3 figures, the whole of the government will be overhauled, services will be cut, fraud and corruption along with pensions will be in line for rude awakening overhaul and greeks will discover an instant coffee will be much more preferable at home rather than a frappe at the cafe... ...and greeks will be going 3 to the dollar...

if greece exits in a not so orderly fashion, the devaluation of the drahma will be in huge inflation quaranteed to be 3 digits from the word go and she will have trouble getting loans with out collateral and at a much higher rate with deeds...something she has not given so far to lenders because of the safety of the eurozone...and this is where her sovereignity will be undermined...islands going cheap...wonder how much crete will fetch?...

to me it seems the greeks are screwed to the bone and all in their own making...afou touti kalamares e faganes, pseftes tjie bagabotes...

when 14% of the population works for the government and the labour force is around the 5 million mark, this translates to 1 in 3 is a government employ...with these impressive staticks you will think that the government sector would have been efficient...but alas...useless like tits on a bull...pretty well discribes the whole of the greek mentality...instead they are insisting to be bailed out without changing the system...hello austerity means sacking the overbloated government sector, overhaul the pensions, collect taxes, cease property if can't collect, etc...it does not meant give more money so i can comtinue the same way...greece can't fool people any more, maybe a couple of fools here, but thats where it ends...

the bonus for cyprus in all all this, once the drahma is downgraded to the vietnamese dong level, 1 USD = 17510 VND, then there will be no need for filipino or other foreign workers in cyprus...i am sure cypriots will do the bid in helping the greeks...show shine boys are in short suppluy i hear on the island of cyprus... bums need wiping... ...this way they can start paying of their debt to the cypriot private investors by spit shine the soles of our shoes...there is always an up side to everything... ...i am sure greeks will be going cheap in the not so distant future...i would get a couple myself if i could...

this pretty much sums the greek mentality...give me, give me, give me...


end of the day there were happy days when greece was borrowing, but not so happy when it comes to paying...and it all started with greece joining the eurozone by cooking the books...actually greece never contibuted to the EU she always took...cyprus on the other hand is a net contributor...so you really have to ask what is greece's purpose in the EU?...

[boomerang]

i forgot to say, anyone that harms my country is an enemy of my country...anyone that harms my country's economy is an enemy of my country...

[Lordo]

I gather Greek song is quite good and may actually win, so how will they be able to host it next year?

I guess all they need is the Parthenon and a mike. Never mind the mechanics. Dead cheap.

Just like they hosted the Olympics that your motherland has never done Who the hell wants to fo to a barbaric terrorist country like turkey? FFS.

Oh you mean like Barbarism where a soldier shoots a 16 day old child in the head and cuts of 12 year old boys heads off. Do you mean that kind of barbarism, elamenite.

[B25]

I gather Greek song is quite good and may actually win, so how will they be able to host it next year?

I guess all they need is the Parthenon and a mike. Never mind the mechanics. Dead cheap.

Just like they hosted the Olympics that your motherland has never done Who the hell wants to fo to a barbaric terrorist country like turkey? FFS.

Oh you mean like Barbarism where a soldier shoots a 16 day old child in the head and cuts of 12 year old boys heads off. Do you mean that kind of barbarism, elamenite.

Yawnnnn......

Idiot, pick up on one unfortuante incident and comparing it to a government systematic effort that your lots carrys out.

Plonker as me old mate Milti would say. Where is he anyway, I do miss him.