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Has the Euro been good for Cyprus?

Benefits and problems from the EU membership.

Do you believe that Cyprus should have joined the Eurozone?


Note: Your vote in this poll is NOT confidential. Your username will be displayed under the option(s) you select

Yes - it was a good decision
4
31%
 
Bananiot, CBBB, kurupetos, Oceanside50
No - we should have kept the Cyprus Pound (Lira)
7
54%
 
cyprusgrump, DrCyprus, FragnaticDeath, Mik, Paphitis, Smiler Brian, supporttheunderdog
It doesn't worry me either way
2
15%
 
bill cobbett, SKI-preo
 
Total votes : 13

Re: Has the Euro been good for Cyprus?

Postby Paphitis » Mon Apr 01, 2013 4:22 pm

B25 wrote:
Paphitis wrote:OK this topic should be resurrected.

Once again, as I have said before, Britain has been smart by staying away!

We went into the Eurozone but if we had the Cyprus Pound we could print and devalue our currency and inflate our debt away. The Government could bail the Banks keeping them alive.

Well it seems that some of you back in early 2012 just had no clue.


My understanding of the euro joining was that it was a pre-requisite to joining the EU.

We also had to have the pound track the euro for a while before the final exchange.

I don't think it was a case of, 'oh let us join the euro boys'


Not sure mate.

I wonder how Britain got away with it then? Maybe it was introduced after.

Maybe we could have told the EU that we changed our mind. What could they do? Could they kick us out once we are already a full member?
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Re: Has the Euro been good for Cyprus?

Postby supporttheunderdog » Mon Apr 01, 2013 4:30 pm

yes it was introduced after the UK joined. and Cyprus was essentially forced to join.
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Re: Has the Euro been good for Cyprus?

Postby B25 » Mon Apr 01, 2013 4:30 pm

Paphitis wrote:
B25 wrote:
Paphitis wrote:OK this topic should be resurrected.

Once again, as I have said before, Britain has been smart by staying away!

We went into the Eurozone but if we had the Cyprus Pound we could print and devalue our currency and inflate our debt away. The Government could bail the Banks keeping them alive.

Well it seems that some of you back in early 2012 just had no clue.


My understanding of the euro joining was that it was a pre-requisite to joining the EU.

We also had to have the pound track the euro for a while before the final exchange.

I don't think it was a case of, 'oh let us join the euro boys'


Not sure mate.

I wonder how Britain got away with it then? Maybe it was introduced after.

Maybe we could have told the EU that we changed our mind. What could they do? Could they kick us out once we are already a full member?


The new rule was brought in after for all new joining countries. Once we had signed the EU dotted line we were committed.

This doesn't mean to say that if we can manage (ha ha) to get the economy to a sustainable position that we cannot review the situation. Anastasiades shouting his mouth off at this stage about not leaving the euro is premature IMHO, the dust has not yet settle, we still cannot see the wood from the trees.

The situation will become a little more clear in the next few weeks to come.
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Re: Has the Euro been good for Cyprus?

Postby georgios100 » Mon Apr 01, 2013 5:55 pm

UK is right not to join the Eurozone but small countries should join for monetary protection.
Only when CY becomes financially independent should entertain the return to Lira (10 years from now).
Reason: Only strong economies can support own currency.
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Re: Has the Euro been good for Cyprus?

Postby Get Real! » Mon Apr 01, 2013 5:57 pm

georgios100 wrote:...small countries should join for monetary protection.

George, you're smoking weed again aren't you? :?
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Re: Has the Euro been good for Cyprus?

Postby Paphitis » Mon Apr 01, 2013 6:01 pm

georgios100 wrote:UK is right not to join the Eurozone but small countries should join for monetary protection.
Only when CY becomes financially independent should entertain the return to Lira (10 years from now).
Reason: Only strong economies can support own currency.


Oh yeh right!

They did a real good job at protecting Cyprus. :roll:

I have no faith in the EU or Eurozone. In fact the way I feel about them, the sooner they disintegrate the better. Arseholes!
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Re: Has the Euro been good for Cyprus?

Postby georgios100 » Mon Apr 01, 2013 6:02 pm

Get Real! wrote:
georgios100 wrote:...small countries should join for monetary protection.

George, you're smoking weed again aren't you? :?


GR, are you bias to weed smoking forumers? Shame on you...

To the subject: Even if Cyprus kept the Lira, CY still needed saving from this mess we are in... so,
what's your point?
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Re: Has the Euro been good for Cyprus?

Postby DrCyprus » Mon Apr 01, 2013 6:05 pm

The reason we entered the E.U and the Euro was to suck up to the Europeans thinking they would protect us from Turkey. They are essentially doing jack shit about it.
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Re: Has the Euro been good for Cyprus?

Postby georgios100 » Mon Apr 01, 2013 6:05 pm

Paphitis wrote:
georgios100 wrote:UK is right not to join the Eurozone but small countries should join for monetary protection.
Only when CY becomes financially independent should entertain the return to Lira (10 years from now).
Reason: Only strong economies can support own currency.


Oh yeh right!

They did a real good job at protecting Cyprus. :roll:

I have no faith in the EU or Eurozone. In fact the way I feel about them, the sooner they disintegrate the better. Arseholes!


Hey, I don't like them either but everyone worries about their own.
Still, we fucked up and now must pay the price!
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Re: Has the Euro been good for Cyprus?

Postby Paphitis » Mon Apr 01, 2013 6:08 pm

georgios100 wrote:
Get Real! wrote:
georgios100 wrote:...small countries should join for monetary protection.

George, you're smoking weed again aren't you? :?


GR, are you bias to weed smoking forumers? Shame on you...

To the subject: Even if Cyprus kept the Lira, CY still needed saving from this mess we are in... so,
what's your point?


No not exactly!

If we were not in the Eurozone they would not be able to force us to take a haircut on our Greek Bonds, putting us in this predicament.

And even if we were in a bad predicament and "needed saving" then our Central Bank is free to print Cyprus Pounds which stimulates the economy and allows GDP to inflate thus reducing debt but with higher inflation and a devalued currency which would eventually recover anyway. :roll:
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