Cyprus-Forum.com

[erolz66]

Australia is in no squeeze at all.

https://www.google.com.cy/search?source ... 0kkiTGKJQI

[Paphitis]

Australia is in no squeeze at all.

https://www.google.com.cy/search?source ... 0kkiTGKJQI

Hiawei Embargo.

The media are always full of articles like this saying Australia has too many interests in Chinese trade.

But there are Australian Warships and Aircraft participating in Freedom of Navigation in the South China Sea. That is a very clear example of where Australia sits.

Australia has also signed a memorandum with the USA that both countries will be going to the moon by 2024 and then to Mars.

Also, 5 eyes. Don't forget Australia is linked to the USA in terms of Security. It has no such links with China at all. In fact, there is a Cold War with China.

[Pyrpolizer]

Btw Paphitis, credit due to our friend Robin Hood (btw where is he- Milti do you know anything is he in good health??) we learned that
the days when the central Banks were just printing money to fight recession are over.
The paper money circulating in any market today is less than 4(?) percent.
So if a certain Country within the Eurozone wants to fight recession, then the local authorities must do more spending and offer more loans.
This is exactly what Italy did, and instead of recovering it got worse reaching a very high Government Debt.
This proves that Italy's problems are totally irrelevant to the currency.

[Paphitis]

Btw Paphitis, credit due to our friend Robin Hood (btw where is he- Milti do you know anything is he in good health??) we learned that
the days when the central Banks were just printing money to fight recession are over.
The paper money circulating in any market today is less than 4(?) percent.
So if a certain Country within the Eurozone wants to fight recession, then the local authorities must do more spending and offer more loans.
This is exactly what Italy did, and instead of recovering it got worse reaching a very high Government Debt.
This proves that Italy's problems are totally irrelevant to the currency.

I wouldn't listen to him.

The Banking system is fractional yes. But 4%, I am not so sure that is correct.

But in any case, I don't know what he is up to. He was and is no fan of the EU.

[Pyrpolizer]

Adoption of the Euro has proven disastrous for the Italians. You can’t hide that fact in obfuscating bullshit.

Yeah right, prove it! I am sorry you are so confused that anything other than a straight line is obfuscating to you.
Just tell me, do you think the Italians are stupid? What's keeping them from abandoning the Euro and reverting to their old Italian Lira if in fact their demise was because of the Euro?

The proof is in the pudding. And it couldn't be more obvious even if it hit you across the face. The EU had a disastrous financial crisis. You felt it more than any. Every day for about 4 years the EU was in the global headlines as the crisis deepened and threatened the existence of the Eurozone itself.

EU member states such as Italy, Spain, Ireland, Portugal, and in particular Cyprus and Greece had an unprecedented collapse of their GDP which was largely unseen outside.

Comparing this of course to Malta (who fared well) is extremely disingenuous, because this small country could easily shield itself with good financial management and restraint by balancing their current accounts.

Comparing it to Germany that virtually kept growing the entire time is also disingenuous because the Euro is virtually the DM and the ECB is protecting the Big EU States like Germany at the expense of Southern Europe who had to eat shit for breakfast, lunch and dinner.

Once again:
the eurozone consists of 19 countries: Austria, Belgium, Cyprus, Estonia, Finland, France, Germany, Greece, Ireland, Italy, Latvia, Lithuania, Luxembourg, Malta, the Netherlands, Portugal, Slovakia, Slovenia, and Spain. From all those 19 only 5 had problems and from those 5 Greece and Cyprus problems WERE NOT BECAUSE of the Euro but for other reasons.
Assuming your claim that the Euro is destined to destroy economies like Italy's Spain's and Portugal's then what's keeping them from going back to their ex-national currency.
You too must answer the question if you think the Italians, the Spanish and the Portuguese are stupid for not doing so.

Not all countries will collapse.

But all countries that did collapse or have a near collapse happen to be EU. It was the Eurozone in the news every single day.

That's your proof.

You didn't answer my question. Do you think the Italians, the Spanish and the Portuguese are stupid for not abandoning the Euro and reverting to their old currencies?

[Paphitis]

You didn't answer my question. Do you think the Italians, the Spanish and the Portuguese are stupid for not abandoning the Euro and reverting to their old currencies?

It's very early days for that.

No I do not think they are stupid.

Every attempt by ANYONE to leave the EU has been undermined and interfrered with by the EU - Irish and Dutch referendums. Now all eyes on the UK.

No other country has fought the EU so resolutely than the British. If they win and they will win, more dominos will fall.

I think the Greeks are stupid for not telling the EU to jam it in 2012. I do not think the Cypriots are stupid because their decision is political because of the occupation so the RoC's motivations for staying in the EU are survival.

Italy is actually a very euro-skeptical country these days so that is a powder keg that will one day blow up as well. The Italians are a proud people.

The Brits are anti big Government and anti centralization. Same as Australians, Americans and Canadians. You do not understand such a concept but democracy is a much bigger thing for these countries than you can ever understand.

Look, I think Greece lost and sold out on its dignity a long time ago but that doesn't mean it can never win it back. Greece has done some remarkable things in history and there is no reason why it can't do similar things in the future.

As for Cyprus, I think that is a lost cause. If Cyprus tries to get out of the EU, the EU will destroy Cyprus and let Turkey imprison Cyprus forever. Cyprus is handcuffed with no place to go. We have seen that the EU will use every dirty truck in its arsenal and Cyprus will get pulverized. The EU are even using Ireland to entrap the UK sand the UK is a superpower.

Italy, Spain, and Portugal and even Greece can hit at the EU as can Austria and Hungary. there are a lot of countries watching the UK. What the Brits are doing is very brave and they ARE fighting for their country.

[Pyrpolizer]

Btw Paphitis, credit due to our friend Robin Hood (btw where is he- Milti do you know anything is he in good health??) we learned that
the days when the central Banks were just printing money to fight recession are over.
The paper money circulating in any market today is less than 4(?) percent.
So if a certain Country within the Eurozone wants to fight recession, then the local authorities must do more spending and offer more loans.
This is exactly what Italy did, and instead of recovering it got worse reaching a very high Government Debt.
This proves that Italy's problems are totally irrelevant to the currency.

I wouldn't listen to him.

The Banking system is fractional yes. But 4%, I am not so sure that is correct.

But in any case, I don't know what he is up to. He was and is no fan of the EU.

You didn't have to listen to him. Listen to me:
Do you disagree that the days of the central Bank printing paper money to fight recession are over once and for all regardless of the country or the currency it uses?
Do you disagree that the current practice of fighting recession (in an otherwise healthy economy) depends entirely on the local Governments?

NB. Exception to the rule is of course the petrodollar country of USA.

[Paphitis]

Btw Paphitis, credit due to our friend Robin Hood (btw where is he- Milti do you know anything is he in good health??) we learned that
the days when the central Banks were just printing money to fight recession are over.
The paper money circulating in any market today is less than 4(?) percent.
So if a certain Country within the Eurozone wants to fight recession, then the local authorities must do more spending and offer more loans.
This is exactly what Italy did, and instead of recovering it got worse reaching a very high Government Debt.
This proves that Italy's problems are totally irrelevant to the currency.

I wouldn't listen to him.

The Banking system is fractional yes. But 4%, I am not so sure that is correct.

But in any case, I don't know what he is up to. He was and is no fan of the EU.

You didn't have to listen to him. Listen to me:
Do you disagree that the days of the central Bank printing paper money to fight recession are over once and for all regardless of the country or the currency it uses?
Do you disagree that the current practice of fighting recession (in an otherwise healthy economy) depends entirely on the local Governments?

NB. Exception to the rule is of course the petrodollar country of USA.

In the USA and Australia and also in the UK, our Central Banks do print money and they have done that forever.

Our Central Banks raise and reduce interest rates and control lending. They control the pace of inflation and the rate our economies grow or decline. Right now, they are trying to stimulate our economies by reducing borrowing costs. Thanks to our Central banks and their managment, our economies have been growing in adverse headwind conditions.

I agree with this completely. It serves us well and we are lucky to have complete control of our fiscal and monetary policies.

If Greece and Cyprus had this power they would not have had as big a disaster as they did during the GFC.

[cyprusgrump]

Btw Paphitis, credit due to our friend Robin Hood (btw where is he- Milti do you know anything is he in good health??) we learned that
the days when the central Banks were just printing money to fight recession are over.
The paper money circulating in any market today is less than 4(?) percent.
So if a certain Country within the Eurozone wants to fight recession, then the local authorities must do more spending and offer more loans.
This is exactly what Italy did, and instead of recovering it got worse reaching a very high Government Debt.
This proves that Italy's problems are totally irrelevant to the currency.

I wouldn't listen to him.

The Banking system is fractional yes. But 4%, I am not so sure that is correct.

But in any case, I don't know what he is up to. He was and is no fan of the EU.

You didn't have to listen to him. Listen to me:
Do you disagree that the days of the central Bank printing paper money to fight recession are over once and for all regardless of the country or the currency it uses?
Do you disagree that the current practice of fighting recession (in an otherwise healthy economy) depends entirely on the local Governments?

NB. Exception to the rule is of course the petrodollar country of USA.

Um...

ECB to restart QE from October

The European Central Bank (ECB) will cut its deposit rate next week and announce a restart of quantitative easing (bond purchases) program from October, according to the latest Reuters poll of nearly 70 economists conducted between Aug. 29-Sept. 3.

Key points (Source: Reuters)

Nearly 90% of respondents expected the ECB to announce the restarting of its money printing presses, with monthly purchases of €30 billion from October.
Almost 90% of respondents said the ECB would introduce some form of compensation for banks to offset the unwelcome side-effects of negative interest rates.
Nearly 70 economists were expecting the ECB to cut its deposit rate at its Sept. 12 meeting, with the vast majority predicting a 10 basis point reduction to -0.5%.
Note that the Eurozone money markets are now pricing a 60% chance of a 20 basis point cut in the deposit rate from the current minus 0.4%.

[Pyrpolizer]

You didn't answer my question. Do you think the Italians, the Spanish and the Portuguese are stupid for not abandoning the Euro and reverting to their old currencies?

It's very early days for that.

No I do not think they are stupid.

Every attempt by ANYONE to leave the EU has been undermined and interfrered with by the EU - Irish and Dutch referendums. Now all eyes on the UK.

We are not talking for leaving the EU! We are talking for leaving the Euro currency.