Pyrpolizer wrote:Paphitis wrote:The results speak for themselves.
Greece was strung up and they were responsible for this 100% In contrast, the boring Cypriot Finance Minister (I am no fan of him) has delivered some good results and Cyprus is on the correct trajectory.
No one has the Greek Mentality, not even the Turks.
Sorry but it is time this bubble burst. Greeks don't conform. Italy, Spain, Ireland and Cyprus can't all be wrong and then in give kudos to Greece for not be a "lamb". The entire Greek System or way of thinking is very flawed and we do not share it in Cyprus. It's broken well and truly.
Which results??
The public finances were not a major issue in Cyprus. Our problem was and still is the Banks.
They only needed some economizing plus this new tax on everyone's properties to recover. As simple as that.
In Greece the Banks were OK, whereas the problem were the public finances. Their problem was and still is the same.
They have a reason for not conforming. It's impossible... They need a debt write-off and they are sure they will get it.
Whereas we in Cyprus just accepted to commit suicide.
All economic indicators are showing accelerated growth.
No one said that the public finances would be solved overnight. This is impossible as it will take time. However, if the RoC economy is growing, then Government income increases and the burden on Public Finances become less and less. On top of that, unemployment will decline provided the economy keeps growing, increasing tax revenues further and reducing any burden on the state.
Cyprus has returned back to International Markets and the Credit Rating Agencies have revised their outlook to POSITIVE!
The Banks have restructured themselves. And tax is a necessary thing for the State to function. The EU used this crisis as an opportunity to steer Cyprus into the right direction and introduce property land taxes which are standard in most EU countries. They have expanded the RoC's revenue base as anyone who owns land is unable to avoid this tax.
And sorry but you have nothing to complain about. I too pay IPT and in Cyprus it is dirt cheap compared to anywhere else. Paying a couple of hundred Euro each year is just peanuts!