Cyprus-Forum.com

[Paphitis]

Yes, thank you P... don't think we'll be slashing our wrists here in England any time soon... except over the frigging, bleeding cricket....!!! .... arggggh...!!!

Howdy BillC!

Yes the British Economy is doing far better than the cricket team.

I think England crumbled under pressure. They are a better team than that. They need time to sort their heads out!

[miltiades]

I wonder if in the rest of EU there are loan rates advertised as heavily as they are in the UK enticing borrowers to have loans at over 1000% .The expansion and promotion of these shark loans, some at over 2000% ,can not be a good sign for the British economy which incidentally is still in recession.

Main street banks are not lending to industry, FACT, recession will continue until industry is able to raise capital.The British economy is not as healthy as some believe.

[CBBB]

What the fuck was Ireland doing with all that money? That's the great mystery!

The leprachauns are keeping it safe in a pot of gold at the end of a rainbow

No seriously... does anyone know what's been happening in Ireland?

They've been drinking a hell of a lot of Guinness, on credit!

[Paphitis]

I wonder if in the rest of EU there are loan rates advertised as heavily as they are in the UK enticing borrowers to have loans at over 1000% .The expansion and promotion of these shark loans, some at over 2000% ,can not be a good sign for the British economy which incidentally is still in recession.

Main street banks are not lending to industry, FACT, recession will continue until industry is able to raise capital.The British economy is not as healthy as some believe.

Doesn't look like a recession to me!

http://www.bbc.co.uk/news/10613201

Btw, how is it legal to flog loans at 1000%? Got an example?

[Milo]

With respect, on a Cyprus forum, and given the dire circumstances, isnt Cyprus more in need of your undivided attention

Cyprus is in huge trouble financially, wouldn't it be far better and maybe helpful to try and sort out the Cyprus economy ?

You have people literally needing food banks daily, mortgages going unpaid, loads of businesses closing, big and small, developers owing huge amounts in IPTs being named in newspapers ! and the biggest youth unemployment in Europe? You need to get rid of those responsible who did this, before they do it again...

I'm not denying the UKs problems, BUT they're not apparent on the ground with the population in general, in Cyprus they're very apparent on the ground and I sense unrest, I even spotted signs in windows advertising a job ' only for Cypriots ' come on now, you all know that the economic problems Cyprus now faces wasn't caused by anyone other than the bankers and the developers and successive govts corrupt to the core. Cypriot workers in the tourism sector will rightly demand higher wages than was ever paid to foreign workers, so unless tourism increases then prices will rise in that sector, vat has just increased another percent, petrol has increased by 6cents per litre, social stamp has increased by 1 to 2 per cent for everyone except the public sector, and there's more to come....

Surely this discussion should be on here everyday, yet it hardly warrants a mention

Will it need another bailout? Will there be another haircut? Will they give out title deeds as demanded by the end of 2014? What will happen to the € 8 billion in developer loans? € 5 billion non performing? Will the banks take already owned properties as collateral ? Will property values continue to fall so drastically? When you sell, how long before you can get your money out?

Most sensible people took their money out of Cyprus when Greece went down, the warning signs were there long ago...

How many more broken legs will be needed before they decide that most foriegners are actually legal?

http://www.sbs.com.au/news/article/2014 ... n-49-years

[miltiades]

Check this one out:
http://www.thisismoney.co.uk/money/card ... -pain.html

'Our charges are not extortionate': Wonga defends 5,853% interest rate as MPs accuse lender of causing 'real pain'

Read more: http://www.thisismoney.co.uk/money/card ... z2pPnm2S7D
Follow us: @MailOnline on Twitter | DailyMail on Facebook

As for the recession coming to an end, I dont think so.Take a look at this.
http://www.telegraph.co.uk/finance/news ... -down.html

http://www.dailymail.co.uk/news/article ... tores.html

[Maximus]

With respect, on a Cyprus forum, and given the dire circumstances, isnt Cyprus more in need of your undivided attention

Cyprus is in huge trouble financially, wouldn't it be far better and maybe helpful to try and sort out the Cyprus economy ?

You have people literally needing food banks daily, mortgages going unpaid, loads of businesses closing, big and small, developers owing huge amounts in IPTs being named in newspapers ! and the biggest youth unemployment in Europe? You need to get rid of those responsible who did this, before they do it again...

I'm not denying the UKs problems, BUT they're not apparent on the ground with the population in general, in Cyprus they're very apparent on the ground and I sense unrest, I even spotted signs in windows advertising a job ' only for Cypriots ' come on now, you all know that the economic problems Cyprus now faces wasn't caused by anyone other than the bankers and the developers and successive govts corrupt to the core. Cypriot workers in the tourism sector will rightly demand higher wages than was ever paid to foreign workers, so unless tourism increases then prices will rise in that sector, vat has just increased another percent, petrol has increased by 6cents per litre, social stamp has increased by 1 to 2 per cent for everyone except the public sector, and there's more to come....

Surely this discussion should be on here everyday, yet it hardly warrants a mention

Will it need another bailout? Will there be another haircut? Will they give out title deeds as demanded by the end of 2014? What will happen to the € 8 billion in developer loans? € 5 billion non performing? Will the banks take already owned properties as collateral ? Will property values continue to fall so drastically? When you sell, how long before you can get your money out?

Most sensible people took their money out of Cyprus when Greece went down, the warning signs were there long ago...

How many more broken legs will be needed before they decide that most foriegners are actually legal?

http://www.sbs.com.au/news/article/2014 ... n-49-years

Please go and start another thread or contribute to this one in a way that is relevant to the subject discussion.

We can talk about what we want here.

[Flying Horse]

Yes I do live in the UK, and I live in a place other than that fabled London place where house prices have just risen by 14%, and migrants think the streets are paved with gold.

I live where you can't sell your house(so far I've not succeeded and am looking to lose 25% on the asking price of five years ago when I tried to sell previously) shops are empty, business is dreadful, FOOD BANKS exist here and they have risen in number by 66% compared to 2010!
Banks are state owned to save the economy because of bankers greed, banks are shady and getting fined with hefty amounts for conning people.
Someone mentioned loans of 1000%.....yes they are legal, they are payday loan companies. They popped up like fleas in recent years because people are struggling to eat or pay rising bills. Preying on vulnerable low earners. They offer short term loans of small denomination that are to be paid back over weeks rather than months. Eg 100 pounds over 20 weeks, 50 pounds interest IIRC.
I'm absolutely broke(until I sell my house) and when I do get money it stays under the mattress because I don't trust the bank as far as I could throw it! I'm a 'House manager'(housewife sounds rubbish) a rarity here in the UK.

Sounds like Cyprus?! It's quite similar in some ways.

Yes, we have our own currency, doesn't mean much!

[erolz66]

Only just started to read the original 'article' in quoted in this thread but already I am smelling BS.

But for all the positive press and good feeling, the government wasn’t really making that big a financial commitment – because back then the average working man could only expect to live to 48 years of age. That’s the equivalent of offering someone a pension today… but only when they reach the ripe old age of 115.

The BS is in the misuse of 'average life expectancy'. They have taken the average life expectancy in 1909 (around 48 years) and compared it with todays (around 80 years) and come up with an increase of 67% in life expectancy. They have then applied that 67% to the then 70 years retirement age and come up with an 'equivalent today' of 115 years. Its obvious that this is BS in that they go on to point out back in 1909 500,000 people qualified for state pension (and qualification was not JUST reaching the age of 70 but had means testing as well so there was in 1909 in excess of 1/2 million people over the age of 70). If their extrapolation of retirement age of 70 to 115 in todays terms was valid then today there should be in excess of 500,000 people in the UK + 50% more for increase in total population (from 40 mill to 60mill roughly) or approx. 750,000 people in the UK over the age of 115 - clearly that is BS.

The reason why their extrapolation is BS is because average life expectancy between 1909 and today is massively affected by death in childbirth or soon after. If they had taken a figure for average life expectancy after say age of 5 between 1909 and now, the % increase would be massively less and thus their 'extrapolated' 115 years retirement age would also be less and the figures of 500,000 then with today would not be glaringly incorrect as they are in the article.

Now I do not know if this undermines their general thesis or not but for me when I see such an obvious and blatant distortion like the one above it makes me suspicious of the entire article. If they can fuck up something so obvious what other less obvious figures have they distorted to fit their thesis ?

[erolz66]

Ok have got to the end of this AVERTISMENT, for that is what it is, masquerading as an 'article'. The irony of an advertisement where the whole 'line' is 'buy our publication to learn how to save yourself from financial disaster' finishes with the disclaimer

Information in MoneyWeek magazine is for general information only and is not intended to be relied upon by individual readers in making (or not making) specific investment decisions. Appropriate independent advice should be obtained before making any such decision.

is not lost on me.