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Will Cyprus leave the Euro?

Benefits and problems from the EU membership.

Should Cyprus leave the Euro?

Yes
12
40%
No
12
40%
Don't know
3
10%
Don't care
3
10%
 
Total votes : 30

Re: Will Cyprus leave the Euro?

Postby GreekIslandGirl » Fri Jan 18, 2013 5:40 pm

Of course his views on the French, Germans, and the Mediterranean countries can be viewed as racist because he thinks the British culture is superior to these other states in terms of work ethic etc. This is why the UK does not belong in the EU. England is not a team player They have to be top dog. For this reason, he knows what is best for Britain. I think he's phenomenal and can quite understand why he wants to see the EU destroyed (he loves his country).
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Re: Will Cyprus leave the Euro?

Postby cyprusgrump » Fri Jan 18, 2013 7:23 pm

GreekIslandGirl wrote:Of course his views on the French, Germans, and the Mediterranean countries can be viewed as racist because he thinks the British culture is superior to these other states in terms of work ethic etc. This is why the UK does not belong in the EU. England is not a team player They have to be top dog. For this reason, he knows what is best for Britain. I think he's phenomenal and can quite understand why he wants to see the EU destroyed (he loves his country).



So when he said he welcomed the French and Germans to the UK 'because the countries were so similar' he was in fact saying that the UK was far superior...? :roll:

You really do need to get a grip on reality... :lol: :lol: :lol:
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Re: Will Cyprus leave the Euro?

Postby GreekIslandGirl » Fri Jan 18, 2013 9:18 pm

cyprusgrump wrote:
GreekIslandGirl wrote:Of course his views on the French, Germans, and the Mediterranean countries can be viewed as racist because he thinks the British culture is superior to these other states in terms of work ethic etc. This is why the UK does not belong in the EU. England is not a team player They have to be top dog. For this reason, he knows what is best for Britain. I think he's phenomenal and can quite understand why he wants to see the EU destroyed (he loves his country).



So when he said he welcomed the French and Germans to the UK 'because the countries were so similar' he was in fact saying that the UK was far superior...? :roll:

You really do need to get a grip on reality... :lol: :lol: :lol:


He doesn't welcome anyone into the UK but he was making the relative point (relative racism?) that the French and Germans, being more similar in culture to Brits than Eastern Europeans, are more tolerated. When GD make the same point, you call them neo-nazis - when the Brits make this point, they are "welcoming". Hypocrisy! He then went on to slag the Germans a hell of a lot and try to stir up anti-German feelings among the French viewers - whom he called stupid. But he is phenomenal - a real rhetorician. Expertly subverting. Feigned concern. Patronizing and superior. Said all the right things to stop anyone accusing him of possessing Germanic neo-nazism (he has his own perversive brand).

I agree with him on a few things; England should leave the EU and stop interfering and that unregulated banking is behind the financial crisis.
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Re: Will Cyprus leave the Euro?

Postby cyprusgrump » Wed Jan 30, 2013 8:38 pm

Chaos is coming....

The state-sponsored chorus about the end of the debt crisis in the Eurozone has been deafening. It even has feel-good metrics: the Euro Breakup Index for January fell to 17.2%—the percentage of investors who thought that at least one country would leave the Eurozone within twelve months. In July, it stood at 73%. For Cyprus, the fifth Eurozone country to ask for a bailout, the index fell to 7.5%. “A euro breakup is almost no issue anymore among investors,” the statement said.

Just then, in a fight over whether or not to bail out Cyprus, top Eurocrats exposed what a taxpayer-funded con game they thought these bailouts really were—and how fragile the Eurozone was.

A debate has been raging in Germany about Cyprus. Not that the German parliament, which has a say in this, wouldn’t rubberstamp an eventual bailout, as it rubberstamped others before, but right now they’re not in the mood. Cyprus is too much of a mess. Bailing out uninsured depositors of Cypriot banks would set a costly precedent for other countries. And bailing out Russian “black money,” which makes up a large portion of the deposits, would be, well, distasteful in Germany, a few months before the federal elections.

For the tiny country whose economy is barely a rounding error in the Eurozone, it would be an enormous bailout. At €17.5 billion, it would amount to about 100% of GDP: €10 billion for the banks, €6 billion for holders of existing debt, and €1.5 billion to cover budget deficits through 2016. The new debt, a €2.5 billion loan that Russia extended in 2011, and other debt would amount to 150% of GDP, according to Moody’s. Unsustainable. So haircuts would be necessary. But whose hair would be cut?

As always, there is never an alternative to a bailout. “It’s essential that everybody realizes that a disorderly default of Cyprus could lead to an exit of Cyprus from the Eurozone,” said Olli Rehn, European Commissioner for Economic and Monetary Affairs. “It would be extremely stupid to take any risk of that nature.”
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Re: Will Cyprus leave the Euro?

Postby CBBB » Wed Jan 30, 2013 9:25 pm

cyprusgrump wrote:Chaos is coming....

The state-sponsored chorus about the end of the debt crisis in the Eurozone has been deafening. It even has feel-good metrics: the Euro Breakup Index for January fell to 17.2%—the percentage of investors who thought that at least one country would leave the Eurozone within twelve months. In July, it stood at 73%. For Cyprus, the fifth Eurozone country to ask for a bailout, the index fell to 7.5%. “A euro breakup is almost no issue anymore among investors,” the statement said.

Just then, in a fight over whether or not to bail out Cyprus, top Eurocrats exposed what a taxpayer-funded con game they thought these bailouts really were—and how fragile the Eurozone was.

A debate has been raging in Germany about Cyprus. Not that the German parliament, which has a say in this, wouldn’t rubberstamp an eventual bailout, as it rubberstamped others before, but right now they’re not in the mood. Cyprus is too much of a mess. Bailing out uninsured depositors of Cypriot banks would set a costly precedent for other countries. And bailing out Russian “black money,” which makes up a large portion of the deposits, would be, well, distasteful in Germany, a few months before the federal elections.

For the tiny country whose economy is barely a rounding error in the Eurozone, it would be an enormous bailout. At €17.5 billion, it would amount to about 100% of GDP: €10 billion for the banks, €6 billion for holders of existing debt, and €1.5 billion to cover budget deficits through 2016. The new debt, a €2.5 billion loan that Russia extended in 2011, and other debt would amount to 150% of GDP, according to Moody’s. Unsustainable. So haircuts would be necessary. But whose hair would be cut?

As always, there is never an alternative to a bailout. “It’s essential that everybody realizes that a disorderly default of Cyprus could lead to an exit of Cyprus from the Eurozone,” said Olli Rehn, European Commissioner for Economic and Monetary Affairs. “It would be extremely stupid to take any risk of that nature.”


So why is EUR/GBP = 1.16414?
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Re: Will Cyprus leave the Euro?

Postby cyprusgrump » Wed Jan 30, 2013 9:53 pm

CBBB wrote:
cyprusgrump wrote:Chaos is coming....

The state-sponsored chorus about the end of the debt crisis in the Eurozone has been deafening. It even has feel-good metrics: the Euro Breakup Index for January fell to 17.2%—the percentage of investors who thought that at least one country would leave the Eurozone within twelve months. In July, it stood at 73%. For Cyprus, the fifth Eurozone country to ask for a bailout, the index fell to 7.5%. “A euro breakup is almost no issue anymore among investors,” the statement said.

Just then, in a fight over whether or not to bail out Cyprus, top Eurocrats exposed what a taxpayer-funded con game they thought these bailouts really were—and how fragile the Eurozone was.

A debate has been raging in Germany about Cyprus. Not that the German parliament, which has a say in this, wouldn’t rubberstamp an eventual bailout, as it rubberstamped others before, but right now they’re not in the mood. Cyprus is too much of a mess. Bailing out uninsured depositors of Cypriot banks would set a costly precedent for other countries. And bailing out Russian “black money,” which makes up a large portion of the deposits, would be, well, distasteful in Germany, a few months before the federal elections.

For the tiny country whose economy is barely a rounding error in the Eurozone, it would be an enormous bailout. At €17.5 billion, it would amount to about 100% of GDP: €10 billion for the banks, €6 billion for holders of existing debt, and €1.5 billion to cover budget deficits through 2016. The new debt, a €2.5 billion loan that Russia extended in 2011, and other debt would amount to 150% of GDP, according to Moody’s. Unsustainable. So haircuts would be necessary. But whose hair would be cut?

As always, there is never an alternative to a bailout. “It’s essential that everybody realizes that a disorderly default of Cyprus could lead to an exit of Cyprus from the Eurozone,” said Olli Rehn, European Commissioner for Economic and Monetary Affairs. “It would be extremely stupid to take any risk of that nature.”


So why is EUR/GBP = 1.16414?


You think the rate is too low...?
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Re: Will Cyprus leave the Euro?

Postby cyprusgrump » Wed Jan 30, 2013 10:09 pm

UK population ~70 million - GDP ~$2T

Eurozone ~300 million - GDP ~ $12T
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Re: Will Cyprus leave the Euro?

Postby Get Real! » Thu Jan 31, 2013 12:32 am

I reckon all the Brits living in Cyprus should pay a “colonialist tax” for old time’s sake!

What do you say Grumps? :lol:
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Re: Will Cyprus leave the Euro?

Postby cyprusgrump » Thu Jan 31, 2013 8:14 am

Get Real! wrote:I reckon all the Brits living in Cyprus should pay a “colonialist tax” for old time’s sake!

What do you say Grumps? :lol:


:lol: :lol: :lol:
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Re: Will Cyprus leave the Euro?

Postby jackarm » Thu Mar 21, 2013 9:27 pm

Should Cyprus leave the EU? No. What Cyprus should do is nothing. Let the EU kick them out. I think Cyprus can do whatever they please the EU will not kick them out. The EU is afraid if one goes - it will all break down. cyprus - just milk it for all it's worth. ignore the rest.
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