by Pyrpolizer » Sat Jan 13, 2007 3:31 pm
As I understand this guy considers the parallel trading of shares at the Cyprus stock Exchange (CSE) with the Greek stock exchange a step towards Enosis.Thats kind of weird…
In the occupied people lost their life time savings in the so called Banks fiasco. How could we fall behind? We lost our life time savings in the CSE fiasco. The CSE fiasco was called 3rd Attila because the money people lost is near the value of the properties they lost during the invasion.
After this fiasco where at least 200,000 GCs lost all their money to a handful of crooks the CSE came to the point of almost complete collapse.
From the 130 companies in the CSE about 5 were totally bankrupt with zero activity whatsoever, other than doing iconic buying-selling of shares. About 90 Companies had from zero to ridiculous trade volumes, e.g there were companies selling 40 shares @25 cents total volume 10 pounds a day! The next day they would buy it back at 30 cents to show 25% increase!!! With the exception of the 4 Banks traded in CSE the situation was good only for laughs. To save the CSE from total collapse they decided to do this parallel trading of the shares of CSE with those of the Greek stock exchange. Nothing really fascinating happened other than there is now a war as to which Bank is going to buy another Bank through the Stock Exchange.
That could be translated to some kind of Enosis if it was indeed a transaction among Greek and Cypriot Banks. This is NOT so however. The one and only successful buying so far i.e that of Marfin Group and the Cyprus Popular Bank is not a Greek to Cypriot buying out, because the Marfin Group is French, that controls Greek Banks. These days there is another game at the stock Exchanges with some other Greek Banks controlled by Arabs from Kuwait and Dubai trying to buy out the Bank of Cyprus and another smaller Bank.
All in all from the now 170 (?) Companies in CSE only the 4 major Cypriot Banks have some traded volume in Athens. The same goes with the 700+ companies in the Greek Stock Exchange.
It is important to notice that before they proceeded to this parallel trading of stocks with the Greek stock Exchange they tried to do a regional stock exchsange with Israel and other neighbouring countries.In fact as I recall for 2-3 months there was a great interest from Cypriot investors for the Israeli stock Exchange. Soon they discovered the Israelis were more crooks than the Cypriots though….
I wonder what would this guy think if the efforts to establish a regional Stock Exchange with the Israelis were successful. Enosis with Israel?????