Cyprus-Forum.com

[Paphitis]

BTW, the Cypriot Diaspora is the largest investor group in Cyprus - not the Chinese or the Russians. Collectively, the Diaspora has billions worth of assets in Cyprus so don’t fuck with us and don’t fuck with your own people!

Cyprus should encourage financial attachments to Cyprus not discourage them.

If Cypriot Banks make it too hard, then these Billions will flee the Banks to other foreign Banks.

There are 350,000 Cypriots in the UK, 150,000 in Australia, 200,000 in US and 100,000 in Canada.

Between us we probably have more money than the Russians, Chinese and Brits have.

Sorry, I don’t mean to be rude. Cyprus frustrates me. I don’t think I can tolerate it that much. I remember it took days to register my children as Cypriots. Most people would just give up but I didn’t. In Australia, registration is automatic or a 5 minutes administrative task.

One good thing about Cyprus is the Lands Titles Office. It is way better than the shamozzke in Greece. It’s also a carbon copy of Australia’s as it was Australia that set it up for Cyprus when it was still a British Colony.

[DT.]

BTW, the Cypriot Diaspora is the largest investor group in Cyprus - not the Chinese or the Russians. Collectively, the Diaspora has billions worth of assets in Cyprus so don’t fuck with us and don’t fuck with your own people!

Cyprus should encourage financial attachments to Cyprus not discourage them.

If Cypriot Banks make it too hard, then these Billions will flee the Banks to other foreign Banks.

There are 350,000 Cypriots in the UK, 150,000 in Australia, 200,000 in US and 100,000 in Canada.

Between us we probably have more money than the Russians, Chinese and Brits have.

Sorry, I don’t mean to be rude. Cyprus frustrates me. I don’t think I can tolerate it that much. I remember it took days to register my children as Cypriots. Most people would just give up but I didn’t. In Australia, registration is automatic or a 5 minutes administrative task.

One good thing about Cyprus is the Lands Titles Office. It is way better than the shamozzke in Greece. It’s also a carbon copy of Australia’s as it was Australia that set it up for Cyprus when it was still a British Colony.

Like pyro said, the banking sector in CY needs creditworthy debtors, not more deposits. Hellenic's loan to deposit ratio stands at 50% right now...not a profitable situation.

[Paphitis]

BTW, the Cypriot Diaspora is the largest investor group in Cyprus - not the Chinese or the Russians. Collectively, the Diaspora has billions worth of assets in Cyprus so don’t fuck with us and don’t fuck with your own people!

Cyprus should encourage financial attachments to Cyprus not discourage them.

If Cypriot Banks make it too hard, then these Billions will flee the Banks to other foreign Banks.

There are 350,000 Cypriots in the UK, 150,000 in Australia, 200,000 in US and 100,000 in Canada.

Between us we probably have more money than the Russians, Chinese and Brits have.

Sorry, I don’t mean to be rude. Cyprus frustrates me. I don’t think I can tolerate it that much. I remember it took days to register my children as Cypriots. Most people would just give up but I didn’t. In Australia, registration is automatic or a 5 minutes administrative task.

One good thing about Cyprus is the Lands Titles Office. It is way better than the shamozzke in Greece. It’s also a carbon copy of Australia’s as it was Australia that set it up for Cyprus when it was still a British Colony.

Like pyro said, the banking sector in CY needs creditworthy debtors, not more deposits. Hellenic's loan to deposit ratio stands at 50% right now...not a profitable situation.

That's because DT, they kept giving and handing out credit to anyone. The yanks did that for a period when they were handing out Home Loans on Cereal packets and they had the Sub prime Crisis.

the thing about the USA though, is its BIG and there is a lot of money floating around by the Trillions and they can get themselves out of it far more quicker.

Cyprus has too much money from very wealthy Russians and Chinese which is a problem on a fractional Banking system when they run. Cyprus has 47% NPLs too, which is another massive problem.

DT, Cyprus needs the money from the Diaspora first and foremost. These are the people that support Cyprus. the Russians and the Chinese do not support Cyprus. They are just looking for a safe haven.

Cyprus can get rid of the Russians and the Chinese if there are too many depositors. And regardless, only give credit to the credit worthy not to anyone who has a pulse - it's better for the Banks and it is better for the non credit worthy to not be lumbered with debt they can't pay.

The whole Cyprus banking sector is just wrong when banks have to harass and freeze small time accounts with little money.

[Robin Hood]

BTW, the Cypriot Diaspora is the largest investor group in Cyprus - not the Chinese or the Russians. Collectively, the Diaspora has billions worth of assets in Cyprus so don’t fuck with us and don’t fuck with your own people!

Cyprus should encourage financial attachments to Cyprus not discourage them.

If Cypriot Banks make it too hard, then these Billions will flee the Banks to other foreign Banks.

There are 350,000 Cypriots in the UK, 150,000 in Australia, 200,000 in US and 100,000 in Canada.

Between us we probably have more money than the Russians, Chinese and Brits have.

Sorry, I don’t mean to be rude. Cyprus frustrates me. I don’t think I can tolerate it that much. I remember it took days to register my children as Cypriots. Most people would just give up but I didn’t. In Australia, registration is automatic or a 5 minutes administrative task.

One good thing about Cyprus is the Lands Titles Office. It is way better than the shamozzke in Greece. It’s also a carbon copy of Australia’s as it was Australia that set it up for Cyprus when it was still a British Colony.

FYI:
• Banks, do not need deposits they need debt!
• Banks make money out of debt, not out of deposits!
• Debts are assets!
• Deposits are liabilities!
• Bail-ins reduce liabilities they do not increase deposits! (For you or me it’s called a default!)
• Banks create new money from debt and destroy money when debts are repaid!
• No debts .............. no bank!
• .......... and Banks do not use the ‘fractional reserve’ principal, nor the ‘intermediary principal’......... they use the ‘creation principal’. (Proven by empirical experiments by Werner and confirmed by the Bank of England, Bulletin Qtr#1, 2014 .... The creation of money in the modern economy’. And many other MMT economists world wide.)

But if you would like to repatriate your money and build more Marinas so that there are plenty more empty offices and apartment blocks for rich Russians and Chinese to buy, to get instant EU passports, ......... then that is different.
......

[Pyrpolizer]

BTW, the Cypriot Diaspora is the largest investor group in Cyprus -

Really?
Where's your supporting data?

[Paphitis]

BTW, the Cypriot Diaspora is the largest investor group in Cyprus -

Really?
Where's your supporting data?

I don't have exact data because even the RoC has never released such data.

I am just going by the sheer numbers and the affluence of Cypriots abroad in places like Australia etc. There are almost as many Cypriots abroad than there are in Cyprus, and they are at least 4 (median) to 10 (mean) times wealthier (on balance sheet paper at least) than Cypriots in Cyprus. And most have property and accounts making them significant investors.

See the stats below.

https://en.wikipedia.org/wiki/List_of_c ... _per_adult

[Pyrpolizer]

BTW, the Cypriot Diaspora is the largest investor group in Cyprus -

Really?
Where's your supporting data?

I don't have exact data because even the RoC has never released such data.

I am just going by the sheer numbers and the affluence of Cypriots abroad in places like Australia etc. There are almost as many Cypriots abroad than there are in Cyprus, and they are at least 4 (median) to 10 (mean) times wealthier (on balance sheet paper at least) than Cypriots in Cyprus. And most have property and accounts making them significant investors.

See the stats below.

https://en.wikipedia.org/wiki/List_of_c ... _per_adult

Your link only shows the wealth per adult per country.
Sure the Cypriots living abroad are wealthy probably 10 times more wealthy as you said than the average adult living in Cyprus.
Furthermore your numbers regarding the diaspora not only are vastly inflated but they include Cypriots of 2nd,3rd even 4 generation as you can see here:
http://politis.com.cy/article/posoi-kup ... ste-telika
The property they have locally is mostly inherited agricultural land and in most cases there are so many beneficiaries that the vast majority of expats can't do any investment even if they wanted to.
Honestly I haven't seen any expat returning and investing here. The very few that ever return are just pensioners who return to spend their last years at home.
Therefore your assumption that we actually depend on investments from the expats is just a fallacy.
The expats are good in promoting the Cyprus issue abroad, and that's all about it.

[Paphitis]

BTW, the Cypriot Diaspora is the largest investor group in Cyprus -

Really?
Where's your supporting data?

I don't have exact data because even the RoC has never released such data.

I am just going by the sheer numbers and the affluence of Cypriots abroad in places like Australia etc. There are almost as many Cypriots abroad than there are in Cyprus, and they are at least 4 (median) to 10 (mean) times wealthier (on balance sheet paper at least) than Cypriots in Cyprus. And most have property and accounts making them significant investors.

See the stats below.

https://en.wikipedia.org/wiki/List_of_c ... _per_adult

Your link only shows the wealth per adult per country.
Sure the Cypriots living abroad are wealthy probably 10 times more wealthy as you said than the average adult living in Cyprus.
Furthermore your numbers regarding the diaspora not only are vastly inflated but they include Cypriots of 2nd,3rd even 4 generation as you can see here:
http://politis.com.cy/article/posoi-kup ... ste-telika
The property they have locally is mostly inherited agricultural land and in most cases there are so many beneficiaries that the vast majority of expats can't do any investment even if they wanted to.
Honestly I haven't seen any expat returning and investing here. The very few that ever return are just pensioners who return to spend their last years at home.
Therefore your assumption that we actually depend on investments from the expats is just a fallacy.
The expats are good in promoting the Cyprus issue abroad, and that's all about it.

I don’t believe they are inflated at all. The census numbers of Australia, UK and USA deflates our numbers. That’s because the Kokkinokoloi do not consider us in the Diaspora to be Cypriot, or Greek or Italian Mavrogoloi, or anything else other than Australian, British, or American.

Nevertheless, most of us are Greek Speakers, participate in Greek Customs and are Orthodox Christian and most of us have property in Cyprus, probably have some money in Cyprus, and we holiday in Cyprus and Greece.

The Australian Government only claims 30,000 odd thousand Cypriots in Australia. What they mean is 30,000 Cypriot Born. However, the figure is closer to 150,000 if not more than that. They also only claim 200,000 Greeks. But the figure is closer to 1 million. If you go to Melbourne, and Astoria in New York you think you are in Athens. Its\'s literally 1 Greek business after another and everything is covered from Groceries, to food, to Pharmacy to Law and Medical providers and everything in between.

Yes, the Australians and Americans are very good at Australianising and Americanising others. The only people they can’t do that to is the Jews because a Jew never changes ever. Not even Kissinger himself would change from a Jew to an American (that really is something). The next hardest are the Greeks. But they are slowly beating the Greeks with time.

Cyprus and Greece need to be strategic here. The Diaspora is an asset to Greece and Cyprus. They both need to do whatever they can to maintain that asset before they lose it. Israel already know the importance of their Diaspora and they have them regimented and towing the Israeli States’s line in the halls of power.

For example. 2 lots of carefully placed funding pools of about 30 million Euros to UK, Australia, and USA to the Cypriot Diaspora would be enough to create a Cyprus lobby as powerful as Turkey's or Israel's. The UK, USA and Australia would be falling over themselves because politicians are the same everywhere. They are interested in the chair (most of them).

Now, you might say Cyprus doesn't have the money and neither does Greece. Well, it costs less than a single Israeli Corvette.

The Jews know this. The Americans and Australians know it very well too which is why they are pumping Billions into the UK, Germany, South Korea, Saudi Arabia (for Oil), China and Japan. Therefore, why we have Free Trade Deals and even enjoy the same privileges as an EU country and what's better is that we don't have the excesses of all the baggage.

[CrookedRiverGuy]

The yanks did that for a period when they were handing out Home Loans on Cereal packets and they had the Sub prime Crisis.

Not that it matter much, but you make it sound like it was something next to an act of charity. It was nothing but a dirty fraud.

[Pyrpolizer]

I don’t believe they are inflated at all. The census numbers of Australia, UK and USA deflates our numbers. That’s because the Kokkinokoloi do not consider us in the Diaspora to be Cypriot, or Greek or Italian Mavrogoloi, or anything else other than Australian, British, or American.

Sometimes I wonder why am I giving you links, that you never read anyway.
Well, if you read the article it says that their data is not from the Australian Government census, but directly from the Cypriot 'paroikia"/community in Australia which on top of everything includes expats up to 4rth generation! Now how much of Cypriots are the 4rth Generation expats, only God knows. My own 2nd generation cousins in the UK are by 95% British, married with British, can hardly speak some broken Cypriot Greek hence they always revert to English, their children speak nothing but English, and half of them visited Cyprus for holidays only once.
Don't you think the "paroikia" numbers are more reliable that yours??