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ECONOMY ON THE BRINK

Benefits and problems from the EU membership.

ECONOMY ON THE BRINK

Postby Bananiot » Wed Nov 23, 2011 3:52 pm

Olli Rehn, the EU Economic Affairs Commissioner said yesterday that the European Union had sent early warning letters to five member states, including Cyprus, that risk violating fiscal rules next year. Rehn told reporters those countries were Belgium, Poland, Hungary, Cyprus and Malta and said he expected the four member states to take appropriate measures as they wouldn't meet their fiscal targets in 2012 without more spending cuts or tax increases. "They need to take action in order to avoid sanctions," Rehn said.

Sanctions mean of course fiscal surveilance and if it came to this dreaded end, the economy of Cyprus will be dealt a telling blow. What is worrying is that the only two persons who appear to be really worried and want to do something about it, is Kikis Kazamias, the Minister of Economics and MP Christos Stylianides of DISI party. Every body else play the populis hand trying to appease the unions and keeping one eye on the Presidential elections in 15 months time. In the meantime, the country is going down the drain but this does not seem to matter for them, as long as they do not shoulder the blame for the austerity measures that need to be undertaken in order to avoid fiscal surveilance. Interestingly, AKEL has abandoned Kazamias for cheap rhetoric and the right wing trade unions are sounding more left than PEO, who will do what AKEL asks, of course.
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Re: ECONOMY ON THE BRINK

Postby Get Real! » Wed Nov 23, 2011 4:10 pm

But that was NOT the financial situation of Cyprus up to 2004 when she was about to join the EU, so who was it that went on and on about the “huge economic and other benefits” of joining this union?

Who is prepared to go back in our threads and see who was in support of joining the EU?
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Re: ECONOMY ON THE BRINK

Postby Bananiot » Wed Nov 23, 2011 9:18 pm

Papadopoulos, your protege, told us so and who were we to doubt him? He even claim deep wisdom for rushing to put us into the eurozone, declining the request by AKEL to wait for aon year to prepare better for this. Grow up GR, does it matter who said what when we are faced with calamity?
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Re: ECONOMY ON THE BRINK

Postby Hermes » Wed Nov 23, 2011 9:31 pm

Bananiot wrote:Olli Rehn, the EU Economic Affairs Commissioner said yesterday that the European Union had sent early warning letters to five member states, including Cyprus, that risk violating fiscal rules next year. Rehn told reporters those countries were Belgium, Poland, Hungary, Cyprus and Malta and said he expected the four member states to take appropriate measures as they wouldn't meet their fiscal targets in 2012 without more spending cuts or tax increases. "They need to take action in order to avoid sanctions," Rehn said.

So what makes you think that the EU Commission's Policies of austerity are right for Cyprus? Have they worked in Ireland, Spain and Greece? All that these austerity measures have achieved is to plunge these countries deeper into recession. Which is basic economics if you cut public spending and raise taxes without a growth strategy. Enforcing austerity without a plan to create jobs is a recipe for disaster. Oli Rehn and the EU Commission have been advocating these failed policies that have only exacerbated this crisis and now you are arguing their disastrous policies should be inflicted on the Cypriot people. Heaven preserve us from the EU's brilliant economic minds!
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Re: ECONOMY ON THE BRINK

Postby Piratis » Wed Nov 23, 2011 9:48 pm

Wth Papadopoulos we had surpluses. We joined EU in 2004 and for as long as Papadopoulos was president until 2008 the economy was doing great.

The problem is that Christofias goverment is unable to dial with the crisis. This is the price that Cyprus pays for listening to Bananiots. Not only they can not move Cyprus forward as they promise, but they move Cyprus backward. These people live in their own utopian world and they have no ablity to deal with the real problems of the real world.
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Re: ECONOMY ON THE BRINK

Postby Bananiot » Wed Nov 23, 2011 10:42 pm

Square logic Piratis! All these EU countries that have financial problems are run by bananiots. If only they had some Papadopoulos's ...
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Re: ECONOMY ON THE BRINK

Postby Nikitas » Wed Nov 23, 2011 11:43 pm

Apart from Germany and Sweden, what other EU nations do not have fiscal problems? None. And Germany itself got a warning earlier today about its debt.

It is easy to "play the populist card" and blame it on whatever target is nearest. The real point is that Germany is the cause of it, its surpluses are everyone else's deficits. And they still refuse to relax fiscal policy and allow the issue of Eurobonds and/or increase the money supply. Eventually the Germans will rank as the richest and most financially "responsible" nation in a bankrupt EU. After of course having bribed their way to success. When they win this dubious title it will be interesting to see who will buy their products.

The above echoes views published in the NY Times, the F Times, the Wall Street Journal and other such "jingoistic" sources. Maybe the solution for the EU and the Eurozone is to exclude Germany and find peace.
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Re: ECONOMY ON THE BRINK

Postby kurupetos » Wed Nov 23, 2011 11:47 pm

Nikitas wrote:Apart from Germany and Sweden, what other EU nations do not have fiscal problems? None. And Germany itself got a warning earlier today about its debt.

It is easy to "play the populist card" and blame it on whatever target is nearest. The real point is that Germany is the cause of it, its surpluses are everyone else's deficits. And they still refuse to relax fiscal policy and allow the issue of Eurobonds and/or increase the money supply. Eventually the Germans will rank as the richest and most financially "responsible" nation in a bankrupt EU. After of course having bribed their way to success. When they win this dubious title it will be interesting to see who will buy their products.

Finland. Olee Rehn pulled some strings... :wink:
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Re: ECONOMY ON THE BRINK

Postby Get Real! » Thu Nov 24, 2011 12:14 am

Count the number of Audis, BMW's, Volks', and Mercedes' on the streets of Cyprus alone... :lol:

The Germans are good and we just have to admit it! Maybe we should've listened to them when they said they are a superior race and entitled to rule us! :?

Sieg Heil! :lol:
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Re: ECONOMY ON THE BRINK

Postby yialousa1971 » Thu Nov 24, 2011 12:18 am

Get Real! wrote:Count the number of Audis, BMW's, Volks', and Mercedes' on the streets of Cyprus alone... :lol:

The Germans are good and we just have to admit it! Maybe we should've listened to them when they said they are a superior race and entitled to rule us! :?

Sieg Heil! :lol:


I thought you were one of the Jews now or you still an A rab. :? :lol:
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