Cyprus-Forum.com

[tsukoui]

I have read some commentators saying that a Grexit would mean not only an exit from the Euro Zone for Greece but an exit from the European Union as well.

As I have said many times, the primary reason for Cyprus being in the EU is the veto against Turkey, without Greece, this becomes even more important.

So how can we stay in Europe for the time being, how can we prepare? Thoughts...

[Get Real!]

So how can we stay in Europe for the time being, how can we prepare? Thoughts...

That’s based on your assumption that the majority want to stay in the EU. You may be surprised…

[tsukoui]

So how can we stay in Europe for the time being, how can we prepare? Thoughts...

That’s based on your assumption that the majority want to stay in the EU. You may be surprised…

Personally I would rather we were out of the EU as well, but as I have stated the ability to veto Turkey is strategically important. If we left the EU and Turkey joined what then?

[Get Real!]

So how can we stay in Europe for the time being, how can we prepare? Thoughts...

That’s based on your assumption that the majority want to stay in the EU. You may be surprised…

Personally I would rather we were out of the EU as well, but as I have stated the ability to veto Turkey is strategically important. If we left the EU and Turkey joined what then?

I really don’t think that Turkey would be welcomed into the EU so our veto is pretty lame.

[GreekIslandGirl]

I've given up counting how many times I have repeated there is never, ever going to be such a thing as a "Grexit".

This time two years ago...

No chance. Heard it all before. Went through the same hysteria over a "Grexit"! etc etc etc.

cyprus40154-20.html

Two and a half years ago...

For over 2 years these same posters have been propagating alarmist monthly predictions of the inevitability of Greece defaulting, Greece leaving the euro (Grexit seems to have disappeared as fast as it was branded), Greece being bought over etc etc and now it's Cyprus' turn. Well, I may not know much about economics but I know the Greek people and it was that knowledge which made me 100% certain they picked on Greece because secretly they all know Greece's fortitude!

Nearly 3 years ago...

For over 2 years these same posters have been propagating alarmist monthly predictions of the inevitability of Greece defaulting, Greece leaving the euro (Grexit seems to have disappeared as fast as it was branded), Greece being bought over etc etc and now it's Cyprus' turn. Well, I may not know much about economics but I know the Greek people and it was that knowledge which made me 100% certain they picked on Greece because secretly they all know Greece's fortitude!

Now, stop spreading the propaganda that just helps bankers make more money, silly fools!

[Maximus]

I have read some commentators saying that a Grexit would mean not only an exit from the Euro Zone for Greece but an exit from the European Union as well.

As I have said many times, the primary reason for Cyprus being in the EU is the veto against Turkey, without Greece, this becomes even more important.

So how can we stay in Europe for the time being, how can we prepare? Thoughts...

This is incorrect, they are two separate things. A Grexit refers to Greece leaving the euro and reverting back to the Drachma.

Cyprus's veto is all that is needed to stop Turkey acceding to the EU. Given Turkeys track record though, she cant meet the criteria to qualify anyway.

No one can kick Cyprus out of the EU but Cyprus can leave the EU on its own accord.

[Maximus]

So how can we stay in Europe for the time being, how can we prepare? Thoughts...

That’s based on your assumption that the majority want to stay in the EU. You may be surprised…

Personally I would rather we were out of the EU as well, but as I have stated the ability to veto Turkey is strategically important. If we left the EU and Turkey joined what then?

Turkey can not join the EU because it occupies another country. Whether Cyprus is in or out of the EU makes no difference. Turkey must fulfill the Copenhagen criteria.

Even in the absence of Cyprus's veto, there are other countries in the EU that will veto Turkeys EU accession process. France is one, Austria is another.

[Paphitis]

I've given up counting how many times I have repeated there is never, ever going to be such a thing as a "Grexit".

This time two years ago...

No chance. Heard it all before. Went through the same hysteria over a "Grexit"! etc etc etc.

cyprus40154-20.html

Two and a half years ago...

For over 2 years these same posters have been propagating alarmist monthly predictions of the inevitability of Greece defaulting, Greece leaving the euro (Grexit seems to have disappeared as fast as it was branded), Greece being bought over etc etc and now it's Cyprus' turn. Well, I may not know much about economics but I know the Greek people and it was that knowledge which made me 100% certain they picked on Greece because secretly they all know Greece's fortitude!

Nearly 3 years ago...

For over 2 years these same posters have been propagating alarmist monthly predictions of the inevitability of Greece defaulting, Greece leaving the euro (Grexit seems to have disappeared as fast as it was branded), Greece being bought over etc etc and now it's Cyprus' turn. Well, I may not know much about economics but I know the Greek people and it was that knowledge which made me 100% certain they picked on Greece because secretly they all know Greece's fortitude!

Now, stop spreading the propaganda that just helps bankers make more money, silly fools!

That's only because there was an agreement and Germany is paying.

If there was no agreement, and Greece defaulted, then there would be a GREXIT alright!

[Oceanside50]

There will not be a Grexit for numerous reasons here's another one

http://www.swissinfo.ch/eng/nato-sees-g ... s/41501684

[Robin Hood]

Surely a Greek exit from the Eurozone or the EU itself will make no difference to Cyprus’ status within either. Cyprus is an independent country …….. it is not part of Greece.

However, I think ‘GR” has a point. Many GC’s regret adopting the Euro as their currency, as it was from this point on they started to suffer their serious financial problems. The problem is the Eurozone and the Euro….. it does not work and never will.

GIG: You seem to be aware that it is the banking system that is where all is not as it seems? I think you are absolutely spot on but, do you actually know anything about money creation and the way the banking system works?

Paphitis: You said that the ‘banking system was stable’? I think that is an illusion! The banking system collapsed with Lehman Brothers failure in 2008. Had it not been for the FED creating multi billions of dollars out of thin air and increasing the international banking systems reserves, they would have all gone down the pan. Everything that has happened within the banking system since 2008 (maybe even before that) has been to prevent the collapse of the US dominated global banking system. The BRICs nations realise this which is why they are already creating their own banking system and World Bank. Other countries outside BRIC’s are also signing up ……… even the UK!!!!!!!!

In Australia, in the last couple of days there has been a meeting of world bankers ….. a very low key affair with no protests. Do you know what they discussed? You will recall a little thing that happened in Cyprus a while back called a ‘bail in’? That meeting of top bankers has now decided that this is now the norm when banks fail …….... the depositors will be the first to lose their money! If things do go ‘pear shaped’ (IMO inevitable) the banks are liable to claims from each other of a sum that is twenty times the worlds GDP if the financial markets collapse and their derivatives kick in.

A few weeks ago in the UK the same group of bankers sat down to formulate a way of doing away with ‘note-and-coin’ and having themselves control all ‘currency’ electronically’. Think about the implications of that. You can be declared a ‘non-person’ at a single key stroke and deprived of everything that requires the transfer of money…… and a lot of other things that don’t!

Henry Ford said something on the lines of ....."If the people knew how money was created and how the banking system worked, there would be riots in the streets!" and many US Presidents, ex-bankers and many academics, have expressed the same sentiments. The first thing to do to understand what will likely happen in Greece is to understand the process of the creation of money by commercial banks and how the banking system operates.