Cyprus-Forum.com

[Nikitas]

These are privately owned islands, inside the 6 mile limit so they are just like any other real estate. Neither has any settlements on them so there is no heritage or poltical issue. I heard prices ranging from 20 to 100 million Euro.

Doing anything on such islands means acquisition of transport means, ie those landing craft looking vessels we call "pantofles" to move equipment and supplies. Relying on the local caikis would cost a fortune. We used to go hunting on Patroclos and the caiki captain charged us 30 Euros each for the 1200 meter trip. And there is the rat infestation problem and good luck dealing with that.

To plironame caravisio to kynigi.

[Get Real!]

Now is a good time to start saving your poops Paphitis… gia na da kamis baximadia!

[Paphitis]

Now is a good time to start saving your poops Paphitis… gia na da kamis baximadia!

I just want a simple life Get Real and you can't get anymore simple than Greece.

It's about αρχές not money. In the end, the best gift you can give your kids, όχι λεφτά.

Happiness is the key and Greece offers this. Only Greece can do what we have just seen in the last 24 hours. Only Greece!

Mark my words, this day will go down in history!

[GreekIslandGirl]

Greece has done what Cameron can only DREAM of!

[Get Real!]

Only Greece can do what we have just seen in the last 24 hours. Only Greece!

Mark my words, this day will go down in history!

What exactly have we seen in the last 24 hours?

A devious referendum with expired (read non-existent) options, and masses of fools rejoicing over utter uncertainty!

As of tomorrow the real fun begins…

[Paphitis]

Only Greece can do what we have just seen in the last 24 hours. Only Greece!

Mark my words, this day will go down in history!

What exactly have we seen in the last 24 hours?

A devious referendum with expired (read non-existent) options, and masses of fools rejoicing over utter uncertainty!

As of tomorrow the real fun begins…

Ένα μεγάλο ΟΧΙ

Tomorrow we take over Brussels, and make Legarde our little serf!

[miltiades]

"The Telegraph's Tim Stanley argues here that it is time for the EU to forgive, show compassion and restructure Greece's debt.

Telegraph "How much better the world would be if we could all walk a few steps in each other's shoes? If so, we might conclude that Greek social democracy was a greedy dud and that the country must reform - whatever its blowhard government says. But we might also feel the pain of one of the teachers with a third less pay, or one of the 50 per cent of Greek kids without a job. What was the point of the European experiment but to uplift our fellow Europeans? If the price of the project is to stamp on the face of Greece for eternity with an iron boot, then we should consider walking away from this madness in disgust."

[miltiades]

I'm convinced that some sort of a deal will be thrashed by this coming Wednesday.
The IMF and ECB will propose a deal conceding to some Greek demands, likewise the Greeks will make some concessions and averting the likelihood of a Greek exit which would have severe repercussions on the rest of European members.

Early this morning the Euro was at 1.41 to STG not much different from Friday. Europe must do all it can to avoid Greece going bankrupt and I think it will.

[DT.]

2 fundamental problems with a solution now following the referendum.

1) Tsipras needs to deliver AT LEAST the 8bn Eur package which was last proposed by him (a measure that will strangle the economy completely but a favorite with socialists. Basically retrospective tax on corporations for 2014 and increased taxation on any firm earning more than 500k EBITDA just to make sure the last few remaining firms have re-located to Malta.) Anything worse than that then this whole vote, liquidity drain from banks and a 3 years reversal of the economy was for nothing.

2) Everyone wants and is able to haircut. The debt sits with the ECB and it can easily afford to write off half of its exposure. Problem is, how do you do this without setting a precedent for Spain with elections round the corner and an other lefty basket case on its way in?

Solution is simple. Tsipras signs a great deal with a ratchet system that allows for haircut within certain targets being met. The haircut and ratchet system is kept quiet providing Tsipras with a failure, his govt falls and takes the blame. He can later reclaim ownership of a great deal after the dust has settled.

Anyone brought pop corn?

[Nikitas]

The economy has been in a straitjacket forced by specific vested interests that no politician, not even Tsip, dares tackle. The hope was that the reforms would be forced by the Troika and presented as inevitable and attributed to the "bad" foreigners.

That problem is that the foreigners of the Troika did not have the balls to insist on real reforms, they accepted half hearted attempts. So the straitjacket problem is still there.This was a failure of the ratchet mentioned by DT above.

An example, when you buy real property it is manadatory that you pay for BOTH the notary public and a lawyer predetermined fees based on the property value. The rule was imposed on the public by the lobbies of these two professions. Everyone disliked this deal, no one dared go against the two lobbies and change it.

Pharmacists, truckers, civil engineers and architects, port workers, and many others have such protected interests and went on strikes to protect their little monopolies.

The No vote yesterday is no guarantee that there will be changes. It is more a conservative call to avoid reforms ie reject any new ratchet system no matter how much we all know it is beneficial in the long term.