Cyprus-Forum.com

[Robin Hood]

Personally I do not concern my self too much with the process used by banks to create money.
What I'm concerned on a personal level is that upon the sale of my property and my return to Cyprus I shall be worst off as of today by around 100 thousand euros, maybe a lot more in due course.

Naturally one is more concerned with personal finances than intricate processes used by the BoE and banks in general in creating debt, money, etc. At the end of the day one passes judgement based purely on personal circumstances. Selfish but true.

i cant comment on cyprus ,but in spain property tax for EU is 7% and non-EU 13%

Cyprus ..... called Immovable Property Tax (IPT) and is charged on the property value, decided by the Land Registry, Doesn't matter if you are Cypriot, British, Russian, Arab, Jewish ...... you pay the tax on the property not your nationality!

[Paul ZKTV]

Personally I do not concern my self too much with the process used by banks to create money.
What I'm concerned on a personal level is that upon the sale of my property and my return to Cyprus I shall be worst off as of today by around 100 thousand euros, maybe a lot more in due course.

Naturally one is more concerned with personal finances than intricate processes used by the BoE and banks in general in creating debt, money, etc. At the end of the day one passes judgement based purely on personal circumstances. Selfish but true.

i cant comment on cyprus ,but in spain property tax for EU is 7% and non-EU 13%

Cyprus ..... called Immovable Property Tax (IPT) and is charged on the property value, decided by the Land Registry, Doesn't matter if you are Cypriot, British, Russian, Arab, Jewish ...... you pay the tax on the property not your nationality!

it not your nationality - its if your EEA or non-EEA
i would have thought that they could bring that in with no problem if they want to get money out of fleeing brits ..

[Robin Hood]

Personally I do not concern my self too much with the process used by banks to create money.
What I'm concerned on a personal level is that upon the sale of my property and my return to Cyprus I shall be worst off as of today by around 100 thousand euros, maybe a lot more in due course.

Naturally one is more concerned with personal finances than intricate processes used by the BoE and banks in general in creating debt, money, etc. At the end of the day one passes judgement based purely on personal circumstances. Selfish but true.

i cant comment on cyprus ,but in spain property tax for EU is 7% and non-EU 13%

Cyprus ..... called Immovable Property Tax (IPT) and is charged on the property value, decided by the Land Registry, Doesn't matter if you are Cypriot, British, Russian, Arab, Jewish ...... you pay the tax on the property not your nationality!

it not your nationality - its if your EEA or non-EEA
i would have thought that they could bring that in with no problem if they want to get money out of fleeing brits ..

Makes no difference EEA or non EEA it is to do with the property and the fact it is in Cyprus.

Only idiots like you have this idea that the Brits are going to flee. You might be of a panic first, think afterwards mentality........ but the Brits are far more pragmatic than that and are not going anywhere,

[Robin Hood]

Milti:

Euro and other currencies. The fall is 100% due to the Brexit result, not due to any other factor as some seem to suggest.

I Disagree. The vote was the trigger, the fall in the value of Sterling is due to currency speculators.

All economic indicators point to a loss of faith in UK's economy, Commercial property funds trading has come to a complete standstill , no buying or selling

All FINANCIAL MARKET indictors not economic! The UK’s economy is reasonably sound although I will admit we don’t have too much of a REAL economy left these days. Thatcher gave precedence to a market economy based on the financial markets an the Banking system. It is the financial economy that is having a hard time ............ and that was 100% predictable.

The fall of sterling will continue in days and weeks to come. Am i deliriously happy about this, NO IM NOT.

Neither am I but I am more optimistic than you. I think what you are overlooking is that Europe is becoming very unstable and the mass of ordinary people have been spurred to look for change by the ‘Brexit’ vote in the UK. We have said to them “Look, you can change the system!” If Europe erupts .... which is far more likely than it is in the UK, as we are a less volatile people, then the Euro will plummet in exactly the same way as the pound has.

I want the best for our country, I want an economy that helps our industries, an economy that thrives and has a bright future benefiting all. Instead of this we now " HAVE OUR COUNTRY BACK "

Without having to toe the EU Commissions line we have that very opportunity on a Global scale. Britain has to rebuild its industries so that we can produce our own steel, build our own nuclear power stations, our own aircraft and capitalise on the skills we have always had as innovators and inventors. My generation and those that followed, have given the young the opportunity for education that was not generally available to my generation unless you had money. Now it is up to the young to use their education and skills to make it work. It is up to us to encourage that and help where we can not just sit there wringing our hands and telling them that this is all the fault of a bunch of geriatric little Englanders.

[Kikapu]

Kickapu:

No, what Robin is saying if I'm not mistaken, is that, the leave camp did not have a Plan B, hence the fact that the remain camp is unhappy with the current situation and not because Brexit took place in the first place. So had the leave camp had a Plan B where lives of the Brits would have been much better than pre Brexit, then the remain camp would be glad that Brexit happened.

Not quite. The Brexit people had a plan ..... they wanted out of an increasingly Federal Europe. For them plan ‘B’ was simply no change we are stuck on the deck of the Titanic of Europe, with every one else. They saw a bigger picture.

The ‘remain’ camp could tell us all the scare scenarios but had no plan in the drawer to cope with any of them if they lost. They should have, because THEY were in Government. It was a referendum not an election. If it had been the latter then today it would have been Farage in No.10. THEN he would need a much bigger plan!

I personally refute that statement. We had a divided country on the referendum. The leave camp, despite not having heard or wanted to hear what Plan B was going to be after the Brexit, they went and voted to leave the EU anyway and most are still happy with their leave vote, even after they have found out that there never was a plan B. There isn't any logical explanation to this in what the leave camp did, other than just wanted to roll the dice and hope for the best.

Surely, it was the elected Government that needed a plan ‘B’? The logical failure is that the Government had no contingency plan to stabilize the financial economy if the vote went against them, the result of that being obvious!. Surely if you predict doom and gloom then you should have a plan ..... they didn’t. So why blame those that voted leave?

So far the instability is ALL associated with the financial economy not the REAL economy. The financial market is little more than a posh betting shop ..... the odds were on the favourite but the outsider won. Now the backers of the favourite want their stake back and the outsider shot ,because it should never have been allowed to rune in the first place.

Then I stand corrected as to whom should have had a Plan B.

Government's Plan B was to remain in the EU. Plan C would have been to vote with the leave camp with no plan at all and be where we are today. It is not just the UK who had control over the Brexit outcome. The EU too have a say so, and the EU did have a Plan B, which was to tell the UK, "you want to go, then go, and make it fast".

[Paul ZKTV]

Milti:

Euro and other currencies. The fall is 100% due to the Brexit result, not due to any other factor as some seem to suggest.

I Disagree. The vote was the trigger, the fall in the value of Sterling is due to currency speculators.

All economic indicators point to a loss of faith in UK's economy, Commercial property funds trading has come to a complete standstill , no buying or selling

All FINANCIAL MARKET indictors not economic! The UK’s economy is reasonably sound although I will admit we don’t have too much of a REAL economy left these days. Thatcher gave precedence to a market economy based on the financial markets an the Banking system. It is the financial economy that is having a hard time ............ and that was 100% predictable.

The fall of sterling will continue in days and weeks to come. Am i deliriously happy about this, NO IM NOT.

Neither am I but I am more optimistic than you. I think what you are overlooking is that Europe is becoming very unstable and the mass of ordinary people have been spurred to look for change by the ‘Brexit’ vote in the UK. We have said to them “Look, you can change the system!” If Europe erupts .... which is far more likely than it is in the UK, as we are a less volatile people, then the Euro will plummet in exactly the same way as the pound has.

I want the best for our country, I want an economy that helps our industries, an economy that thrives and has a bright future benefiting all. Instead of this we now " HAVE OUR COUNTRY BACK "

Without having to toe the EU Commissions line we have that very opportunity on a Global scale. Britain has to rebuild its industries so that we can produce our own steel, build our own nuclear power stations, our own aircraft and capitalise on the skills we have always had as innovators and inventors. My generation and those that followed, have given the young the opportunity for education that was not generally available to my generation unless you had money. Now it is up to the young to use their education and skills to make it work. It is up to us to encourage that and help where we can not just sit there wringing our hands and telling them that this is all the fault of a bunch of geriatric little Englanders.

Thats like saying people who rob goods from shipwreaks are those who cause it ?????

the second bit is total madness - no one in the EU will call a referenum ...its 12% on the right and a lot of sad people who have a crap life due to bad housing bad jobs ,bad weather . sod all to do with the EU
WHAT DO THEY MAKE IN THE UK - excude non british first who will be off soon ???
build our own nuclear power stations - its was the FRENCH GOVERNMENT and CHINA paying for it
our own aircraft - it makes the WINGS - now not even that
capitalise on the skills we have always had as innovators and inventors - if you mean YOUNG PEOPLE - they will be off into the EU head hunted
the fault of a bunch of geriatric little Englanders. - IT IS !!!!

[Paul ZKTV]

[
Then I stand corrected as to whom should have had a Plan B.

the best thing for Germania ,sorry the EU ,is to lose the UK
the EURO was based on a SINGLE MARKET and a SINGLE EURO

one of DC moans ,which he won on was the the pound was being treated as second class money
thats al gone now
The new SINGLE FIN SERVICE would have brought billions to the UK
thats all gone now ...

[Tim Drayton]

What a couple of foreign exchange analysts are saying today:

Andrew Edwards, CEO of trading firm ETX Capital, says investors are reacting to M&G Investments, Aviva and Standard Life freezing their UK property funds.

"Investors are now nervously casting their eyes around for other funds that may shutter. The negative effect on sentiment in the investment market will underpin sterling weakness.
Pessimistic predictions for sterling are coming true. The pound is the chief proxy for the post-Brexit mood in the markets. Sterling is bearing the brunt of market stress, in sharp contrast to the FTSE 100, which is holding firm because 75% or so of earnings comes from overseas and because of heavy weighting towards the big international groups on the index. The question is: how long can this last if more funds start pulling the plug?”

Andy Scott of currency firm HiFX fears that political instability will hurt the pound:

“The fears over Brexit are quickly being realised with an initial heavy selloff following the shock result, followed by this second wave of investors who held their nerve initially, but are now deciding that they’d rather accept the losses so far than risk losing more.
Clearly Mark Carney and George Osborne believe there are very rough times ahead for the UK economy as they begin rolling out a number of measures to cushion the potential impact. The Pound is now clearly seen as a high risk asset and when market sentiment becomes very risk averse, it will come under pressure as seen over the past two days."

https://www.theguardian.com/business/li ... iness-live

One thing's for sure - the hedge funds and other big professional investors are all piling in against the pound, and they never lose. I have just been to my UK bank account and sent all but a tiny amount of the balance there to my euro account here in Cyprus. So, my only remaining GBP assets are the small change left in the account and, sadly, some receivables that I can do nothing about at the moment. So, I'm sitting fairly pretty as the pound collapses. I'm still heartbroken about what's happening to my country, though.

[Pyrpolizer]

Early morning and the pound has already dropped down to 1.288 Dollars and 1.166 Euros respectively. Will the down fall stop any time soon, will the pound recover ? I do not think so.

Looking at the charts it dropped some 16% before it stabilized, the odds are it will drop another 16% before it finally stabilizes.
My prediction based on the above is it will drop down to about 1.02 to the Euro and then stabilize around that.
If it goes below the psychological barrier of 1:1 vs the Euro, pack your suitcases and abandon the UK dear Milti. Armageddon follows

[miltiades]

Early morning and the pound has already dropped down to 1.288 Dollars and 1.166 Euros respectively. Will the down fall stop any time soon, will the pound recover ? I do not think so.

Looking at the charts it dropped some 16% before it stabilized, the odds are it will drop another 16% before it finally stabilizes.
My prediction based on the above is it will drop down to about 1.02 to the Euro and then stabilize around that.
If it goes below the psychological barrier of 1:1 vs the Euro, pack your suitcases and abandon the UK dear Milti. Armageddon follows

Well mate, Im almost packed and ready to enter.....Paradise island, just as soon as my affairs here are finalized. Frankly I can not wait to get that one way ticket, 55 years in the UK is more than enough.
At least Cyprus is still an EU member, hope it continues to be.
In view of the economic circumstances I shall no doubt be looking for a part time....job.
I play the bouzouki, I sing and can also do the twist