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EU CURRENCY AND CYPRUS

Benefits and problems from the EU membership.

EU CURRENCY AND CYPRUS

Postby CY-UK » Tue Apr 07, 2009 9:35 pm

Hi

I have not been to Cyprus for two years now, but people tell me that the EU currency has been exploited and now some basic comodities are far to expensive?

If this is true will it not have a detrimental effect on tourism?

Regards

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Postby miltiades » Tue Apr 07, 2009 9:58 pm

Basic commodities have risen sharply when converting the cost in Euros to stg. Milk , butter , eggs , sugar , coffee,
bread , cheese are all far too expensive . A 200 grm of kerrygold butter costs 3.15 euros in carefour supermarket almost three times as much as it costs here in the UK.
Electricity has also gone up considerably , I dont understand how the locals make do with such prices.
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Postby kurupetos » Tue Apr 07, 2009 10:56 pm

miltiades wrote:Basic commodities have risen sharply when converting the cost in Euros to stg. Milk , butter , eggs , sugar , coffee,
bread , cheese are all far too expensive . A 200 grm of kerrygold butter costs 3.15 euros in carefour supermarket almost three times as much as it costs here in the UK.
Electricity has also gone up considerably , I dont understand how the locals make do with such prices.


By tax evasion.
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Re: EU CURRENCY AND CYPRUS

Postby Hatter » Tue Apr 07, 2009 11:35 pm

CY-UK wrote:Hi

I have not been to Cyprus for two years now, but people tell me that the EU currency has been exploited and now some basic comodities are far to expensive?

If this is true will it not have a detrimental effect on tourism?

Regards

CY-UK


Would you care to elaborate on what "people" mean, exactly, when they tell you that "the EU currency has been exploited"?
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Postby Raymanoff » Wed Apr 08, 2009 12:57 am

CY-UK, you wouldnt be in the deep shit now if you had followed the rest of europeans... i lost 40% of my income value because of this.... and now instead of working i am having a bottle of JDs every night...
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Postby Hatter » Wed Apr 08, 2009 1:23 am

kurupetos wrote:
miltiades wrote:Basic commodities have risen sharply when converting the cost in Euros to stg. Milk , butter , eggs , sugar , coffee,
bread , cheese are all far too expensive . A 200 grm of kerrygold butter costs 3.15 euros in carefour supermarket almost three times as much as it costs here in the UK.
Electricity has also gone up considerably , I dont understand how the locals make do with such prices.


By tax evasion.



For those people that do pay tax, i.e. for most people, it is easier to make do, taxed on a PAYE basis in Cyprus, compared to their opposite numbers in the UK. In the UK, the first 5000 UKP of personal income is tax-free. In Cyprus the corresponding amount is 19500 EUR. And, of course, in Cyprus people are being paid in EUR.

Miltiades,

it would be interesting and very informative to show a wider range of comparative prices of the basic commodities in CY and UK. There is no doubt that the cost of living is higher now compared to, say, a year ago or two years ago, but it would be difficult to quantify how much of the increase is attributable to "exploitiing the EU currency", don't you think?
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Postby CY-UK » Wed Apr 08, 2009 10:07 am

Hi,

When i say people i mean family that have visited recently, or family that live there.

If you think that up to 5 years ago petrol was 35c per Litre, but the wage is still the same.

Also there is reports that this worldwide economic crisis has caught up with cyprus and it will make things harder.

Regards
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Postby CBBB » Wed Apr 08, 2009 10:17 am

CY-UK wrote:Hi,

When i say people i mean family that have visited recently, or family that live there.

If you think that up to 5 years ago petrol was 35c per Litre, but the wage is still the same.

Also there is reports that this worldwide economic crisis has caught up with cyprus and it will make things harder.

Regards


It's not harder for us, we just fly to the UK to do our shopping and with the current exchange rate our savings more than pay for the air ticket!
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Postby miltiades » Wed Apr 08, 2009 11:00 am

Hatter wrote:
kurupetos wrote:
miltiades wrote:Basic commodities have risen sharply when converting the cost in Euros to stg. Milk , butter , eggs , sugar , coffee,
bread , cheese are all far too expensive . A 200 grm of kerrygold butter costs 3.15 euros in carefour supermarket almost three times as much as it costs here in the UK.
Electricity has also gone up considerably , I dont understand how the locals make do with such prices.


By tax evasion.



For those people that do pay tax, i.e. for most people, it is easier to make do, taxed on a PAYE basis in Cyprus, compared to their opposite numbers in the UK. In the UK, the first 5000 UKP of personal income is tax-free. In Cyprus the corresponding amount is 19500 EUR. And, of course, in Cyprus people are being paid in EUR.

Miltiades,

it would be interesting and very informative to show a wider range of comparative prices of the basic commodities in CY and UK. There is no doubt that the cost of living is higher now compared to, say, a year ago or two years ago, but it would be difficult to quantify how much of the increase is attributable to "exploitiing the EU currency", don't you think?

My own feeling is that Cyprus is one of the most expensive places in Europe when it comes to basics , based on UK prices that is. I understand
that service charges such as water and waste , council , rates are below those of the UK . The basic food items that cost far more do so because of general lack of competition , there is no way that a 200 grm of Butter can cost over 3 euros. The price of bread is almost 3 times as much as the UK. Years back meat prices were considerably cheaper in Cyprus but right now a leg of fresh lamb in Sainsubys is under £10.00 thats a whole leg ! Pork again used to be cheaper but not anymore. Chicken prices are a joke too.
As far as food prices and essentials such as soaps , Shampoos , detergents and basic essentials are concerned the UK is much much cheaper than Cyprus.
Its not the Euro that has forced prices up , it is the supermarkets along with the importers and distributors.
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Postby kurupetos » Wed Apr 08, 2009 11:08 am

Hatter wrote:
kurupetos wrote:
miltiades wrote:Basic commodities have risen sharply when converting the cost in Euros to stg. Milk , butter , eggs , sugar , coffee,
bread , cheese are all far too expensive . A 200 grm of kerrygold butter costs 3.15 euros in carefour supermarket almost three times as much as it costs here in the UK.
Electricity has also gone up considerably , I dont understand how the locals make do with such prices.


By tax evasion.



For those people that do pay tax, i.e. for most people, it is easier to make do, taxed on a PAYE basis in Cyprus, compared to their opposite numbers in the UK. In the UK, the first 5000 UKP of personal income is tax-free. In Cyprus the corresponding amount is 19500 EUR. And, of course, in Cyprus people are being paid in EUR.



Hatter, I only know a handful of cypriot people, in the private sector, that pay tax as they are obliged by the law. I am not joking.
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