Cyprus-Forum.com

[bill cobbett]

The Republic has its problems but pro-rata the extent of the indebtedness of the Bankrupt Regime of "trnc" is staggering.

So just how bankrupt is the Bankrupt Regime of "trnc"...???

The answer comes in an article by Bahcelli in the Mail from interviews with a couple of economists in the Occupied Areas.

The article principally is about what pass as "elections" in "trnc" and reminds us that it won't make any difference just who is in power up there, the shots are called by the Turkish Pasha and the "protocol".

Here's a couple of paras...

..."What binds the north to the protocol, signed initially by the CTP in 2009 and then later by the UBP, is the mountain of debt under which the breakaway state languishes. At around 4.7 billion dollars it constitutes approximately 145 per cent of GDP, a situation Guryay describes as “worse than that of Greece, Spain or Portugal”.

As another Turkish Cypriot economist Mustafa Besim of the Eastern Mediterranean University (EMU) explained, the north owes 3.2 billion US dollars to Turkey for its help covering the budget deficit since 1974, plus a further 1.5 billion dollars to local banks..."

"trnc" is 4.7 Billion Dollars in debt...!!!

(... with much more at... http://cyprus-mail.com/2013/07/28/fract ... elections/ )

...which given the much smaller population up there is per-capita several times the problem facing people in the Republic.

[Demonax]

4.7bn! Where's it all gone? Talk about money down the toilet!

[Lordo]

when compared with the roc debt it is peanuts and yours of course is so salty it brings tears to your eyes.

and on top of course is that it has not interest and i dont recall any demands to start payments.

[bill cobbett]

when compared with the roc debt it is peanuts and yours of course is so salty it brings tears to your eyes.

and on top of course is that it has not interest and i dont recall any demands to start payments.

It ain't peanuts you foolish Turkish Agent... for 80,000 CYs in "trnc" it's massive...!!! ... do the sums... you do know some maths don't you...!!!

Go on Vordo do the simple sum 4.7 Billion USD divided by 80,000... you can do it can't you...???

... and the debt is being re-paid and every TL will be re-paid...

... through, for instance, all those Turkish enterprises who get "free land" and preferential treatment and don't pay any taxes,

...whilst people like the CY workers of "lefkosa municipality" are still waiting for the last three months wages.

[Lordo]

300k my friend 300k. get used to it but not for long. another 5 years and they will 1million. i have never seen a single demand or terms for paying back. get over it.

[Demonax]

300k my friend 300k. get used to it but not for long. another 5 years and they will 1million. i have never seen a single demand or terms for paying back. get over it.

Lordo believes that Turkey is gifting billions to keep the ungrateful TCs sitting on their unproductive backsides! Next, Lordo will be telling us that money really does grow on trees!

[Lordo]

you mean you dont have money plant.

oh dear no wonder you boys got into a little financial difficulty.

[Maximus]

when compared with the roc debt it is peanuts and yours of course is so salty it brings tears to your eyes.

Not quite Bordo, a resident in the "TRNC" has about 60% more debt than a resident in the Republic of Cyprus.

and on top of course is that it has not interest and i dont recall any demands to start payments.

so you are just a financial black hole that shouldn't have any more money thrown at it.

[bill cobbett]

300k my friend 300k. get used to it but not for long. another 5 years and they will 1million. i have never seen a single demand or terms for paying back. get over it.

Bordo and others have been threatening it would be One Million Illegal Settlers for years...

... but the numbers keep on decreasing, all packing their stuff in to bin-liners and getting away from the...

... No Hope and No Prospects, Just 60-year old Broken Promises of the Bankrupt Regime of "trnc".

[Lordo]

talk of bankruptcy of the north at this time is hilarious. henceforth you will be known as billerio