Cyprus-Forum.com

[CBBB]

As do I..... And also Number 6

#

I disagree with 6 as well, at the moment they are doing a good job of keeping the stray cats and dogs population down!

[Get Real!]

Putting jokes aside the solution to any country’s economic problems is always the theoretically simple… decreasing the gap between income and expenditure.

That of course means exporting more and importing less but when your exports are limited to foodstuff and lightweight manufacturing you haven’t got much to go on.

This is made worse by the severe deterioration of Cyprus’ banking & finance industry which was about 35% of her GDP. By comparison, tourism at around 8% of her GDP was pocket money so an increase in tourist arrivals which have been a steady 2.2m average p/a for the last decade, is not the solution.

So how does Cyprus bridge the huge gap especially knowing that she will also have to pay compounding interest on around 12.5 billion euros of borrowed EU and Russian money?

Put simply I really don’t think Cyprus can so I expect our politicians to be making frequent trips back and forth to the EU to restructure the non viable debt, all to no avail just so Cyprus can declare bankruptcy about a year or two later!

The only good thing about bankruptcy (assuming standard rules apply) is that you only need to pay back about 40% of your debts at a loss of state control!

Perhaps it’s a good idea for Cypriots to lose control of their state because they are terrible managers of it anyway and if the past is anything to go by these “Cypriots” being in control of Cyprus can only continue with their treasonous ways of constantly aiding Greece at Cyprus’ peril.

I wish I could say that my compatriots have a chance or are capable of doing something right for this island but I’ve gradually lost all hope and no longer want to jeopardize myself and my family under their incompetent administration.

Under the severe circumstances what I’d now like to see is for the UNSC to declare the RoC null & void, completely remove these so called “Cypriots” (read Greek agents) from office, remove the Turkish military, and return the whole island to the British as it was before the stupidities began.

Let us press RESET on Cyprus if we're to have any kind of future!

[cyprusgrump]

VOTE: How long will the capital controls in Cyprus last?

7% Weeks
30% Months
63% Years

Vote here...

[kurupetos]

Seeing that Cyprus’ biggest export is xenomania I’d impose the following taxes to straighten this country out:


1. Hoisting the Gay flag at one’s residence or bragging that one is “choirokitian” should warrant the “Midget Homosexual Wannabe tax”.

2. Bragging about Turkey’s “prowess” or complaining about a TC genocide should warrant the “Ottoman Remnant tax”.

3. Complaining about how bad Cyprus is and/or getting caught looking for British products at supermarkets and/or wearing white socks with sandals should warrant the “Colonialist tax”.

4. Getting caught drunk with vodka three or more times in the streets should warrant the “CCCP tax”.

5. Cypriot females dyeing their hair blond and pretending to be 5ft Swedish goddesses should warrant the “Greta Garbo tax”.

6. Chinese/Filipinos who have been living/working here for over a year and who still eat traditional Asian food should warrant the “Can’t get out of my disgusting habits tax”.

7. Sri Lankan women living/working here for over a year and who still look like Bollywood actresses should warrant the “Taj Mahal tax”.


I could go on and on but no more time for this so start with these measures and we’ll take it from there.

There was a problem with #1. I have corrected it.

[Mik]

Should have been amended 1.a and 1.b as both points are basically the same thing...

[cyprusgrump]

Capital Controls announced

Details of Cyprus's capital controls are now hitting the newswires.

Here are the key points (mainly via Dow Jones and Reuters).

• All savings accounts must run until their expiry date - with no early withdrawals allowed.

• Cashing of cheques will be suspended, but 'cheque deposits' will be allowed.

• Individuals will only be allowed to take €3,000 in cash on each trip out of the country.

• Cypriots will only be allowed to transfer up to €10,000 per quarter for fellow citizens who are studying abroad.

• All credit/debit card transactions abroad will be capped at €5,000 per person, per month.

• The measures will apply to all accounts, regardless of the currency it uses.

• Import payments will be allowed when 'the relevant documents' are provided to the authorities.

• They will run for seven days

[Paphitis]

Putting jokes aside the solution to any country’s economic problems is always the theoretically simple… decreasing the gap between income and expenditure.

That of course means exporting more and importing less but when your exports are limited to foodstuff and lightweight manufacturing you haven’t got much to go on.

This is made worse by the severe deterioration of Cyprus’ banking & finance industry which was about 35% of her GDP. By comparison, tourism at around 8% of her GDP was pocket money so an increase in tourist arrivals which have been a steady 2.2m average p/a for the last decade, is not the solution.

So how does Cyprus bridge the huge gap especially knowing that she will also have to pay compounding interest on around 12.5 billion euros of borrowed EU and Russian money?

Put simply I really don’t think Cyprus can so I expect our politicians to be making frequent trips back and forth to the EU to restructure the non viable debt, all to no avail just so Cyprus can declare bankruptcy about a year or two later!

The only good thing about bankruptcy (assuming standard rules apply) is that you only need to pay back about 40% of your debts at a loss of state control!

Perhaps it’s a good idea for Cypriots to lose control of their state because they are terrible managers of it anyway and if the past is anything to go by these “Cypriots” being in control of Cyprus can only continue with their treasonous ways of constantly aiding Greece at Cyprus’ peril.

I wish I could say that my compatriots have a chance or are capable of doing something right for this island but I’ve gradually lost all hope and no longer want to jeopardize myself and my family under their incompetent administration.

Under the severe circumstances what I’d now like to see is for the UNSC to declare the RoC null & void, completely remove these so called “Cypriots” (read Greek agents) from office, remove the Turkish military, and return the whole island to the British as it was before the stupidities began.

Let us press RESET on Cyprus if we're to have any kind of future!

Cyprus really did need a real big shake up and it surely got that.

I wouldn't toss in the towel. Cyprus can get out of this. One positive is the Oil and Gas. Cyprus will recover when the taps open in a few years at the latest.

Cypriot politicians are awful. Never throughout our history has the island had good leadership. A change in the guard is required. Why can't the people seize control?

Cyprus needs to develop a manufacturing base. New strategic partnerships are necessary.

[Mik]

So no more accepting Cheque payments for job for me then!

[B0B]

there is only one development measure that needs to be taken
exit the euro
cyprus was fine before it
it will be fine after it

[CBBB]

Capital Controls announced

Details of Cyprus's capital controls are now hitting the newswires.

Here are the key points (mainly via Dow Jones and Reuters).

• All savings accounts must run until their expiry date - with no early withdrawals allowed.

• Cashing of cheques will be suspended, but 'cheque deposits' will be allowed.

• Individuals will only be allowed to take €3,000 in cash on each trip out of the country.

• Cypriots will only be allowed to transfer up to €10,000 per quarter for fellow citizens who are studying abroad.

• All credit/debit card transactions abroad will be capped at €5,000 per person, per month.

• The measures will apply to all accounts, regardless of the currency it uses.

• Import payments will be allowed when 'the relevant documents' are provided to the authorities.

• They will run for seven days

Come on Grump, you know better than that!

Source?