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Are you looking forward to changing to the Euro

Benefits and problems from the EU membership.

Are you looking forward to changing to the Euro

Postby The Judge » Tue Feb 13, 2007 11:19 pm

I'm not sure if I am. Things will increase in price but I guess mortgages will come down. Cyprus will lose something, identity in Europe.
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Postby Sotos » Wed Feb 14, 2007 6:40 am

I am not sure either. There will be some benefits but there will be some negatives also. Mortgages will come down but property prices will rise. Some will try to take advantage of the initial confusion to profit, but I heard that the government will give for free 250.000 Pound to Euro calculators one for each family. I don't know if our pounds is so much of our identity. I mean we got them because we were a British colony. Have we decided about the design of our Euro coins? :P
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Postby THE HIGHLANDER » Wed Feb 14, 2007 7:53 am

One of the best things Britain ever did in Cyprus did was to introduce the £ and it has worked well for the country and even as a independant republic Cyprus has excelled in growth to the extent that the Cyprus £ is stronger than the Brittish £ giving the country it own personal identity in europe and the world markets,as for the euro i'm affraid its a... no... no,it will be a sad day when Cyprus looses it £ and there will be many unrepented conciquences,compaired to little few gains,i personaly am not looking forward to it one little bit !!!!!!
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Postby Strahd » Wed Feb 14, 2007 9:04 am

THE HIGHLANDER wrote:One of the best things Britain ever did in Cyprus did was to introduce the £ and it has worked well for the country and even as a independant republic Cyprus has excelled in growth to the extent that the Cyprus £ is stronger than the Brittish £ giving the country it own personal identity in europe and the world markets,as for the euro i'm affraid its a... no... no,it will be a sad day when Cyprus looses it £ and there will be many unrepented conciquences,compaired to little few gains,i personaly am not looking forward to it one little bit !!!!!!


Whatever... does it matter that is called a pound or is called crap? It still would have been stonger than brittish pounds.... :lol: :lol: :lol:

A pound is not an identity is the last remenant of the british colonialism and I am very happy that it will be finally dropped! It will be a very good move and will strengthen the position of Cyprus in the region and the world in general. in short term the loss I see is that for rounding purposes 0.5c will be charged 1euro. For current exchange rates that is an increase of about 10% in prices and that will be met usually in cheap products at periptera etc. In the long run the Cyprus economy has much to gain!

Last but not least, joining Euro and in effect becoming a Shengen member it will give a boost to Tourism and drop Cyprus ties to UK tourism. People from france, Germany, Italy etc will feel more at home and would not have even their passports checked when the come in the country, same for Cypriots of course if we go there.

It is final for those who cannot understand Greek and cannot follow news. RoC has filed its Euro admission yesterday and by June we would know the locked exchange rate. The coins have been designed also

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Postby karma » Wed Feb 14, 2007 9:24 am

I am afraid Euro will bring Cyprus only fears and tears..like it hapened in Greece :(
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Postby miltiades » Wed Feb 14, 2007 9:43 am

Having joined Europe , this is a part and parcel of membership. At least the currency will be stable , and as for UK Cypriots who for years have confused the exchange rate by complaining that they loose every time they change £100 they only get £80 , now they can say they are are gaining 50 euros , if you know what I mean.
The Cy £ has served the nation well , the British introduced the £ way back , but only gave the £ 18 shillings , not 20 , and each shilling had 9 piastres , not 10 . You can see even then the British were eccentric !!!
Talking about the British , the majority do not wish to see sterling replaced with the Euro. The number one objection , guess what , loss of sovereignty !!!
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Postby Strahd » Wed Feb 14, 2007 9:52 am

karma wrote:I am afraid Euro will bring Cyprus only fears and tears..like it hapened in Greece :(


Two different countries, two differnet currencies. Drachma was a inflationary currency almost 400drachma where equal to 1euro... So in the mind of the people it was difficult to settle the 1euro (one) was a lot of money for a bottle of water... The cyprus economy is much stonger that Greece and it will not suffer the same consequences. There will be some short term losses but what we should be looking at is the future...

As for the Brittish, den exoune ypothesi, their economy will suffer very soon the consequences of severeignity... :lol: :lol: :lol: :lol:
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Postby karma » Wed Feb 14, 2007 11:37 am

u may be rite, dunno, lets see :)
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Postby Pete_D » Wed Feb 14, 2007 7:11 pm

Strahd wrote:As for the Brittish, den exoune ypothesi

TRANSLATION REQUIRED PLEASE!!!! Remember the rules of the foreign regarding posting in non-English language....

Strahd wrote:, their economy will suffer very soon the consequences of severeignity... :lol: :lol: :lol: :lol:

It is "sovereignty". and no... you seem to be wrong about this.

Campaigners for the Euro in the UK a number of years ago were quick to point out that "the pound would suffer as a currency if it were not in the Eurozone". Really? Uh, uh that didn't happen.

And now look at the price of sterling. Have you seen is lately, nearly 2 US $ you can get for one GBP?

So if that's the case then what, I hear you cry, is it REALLY all about?
To use that famous quote... "it's the economy, stupid!"

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Postby caroler » Wed Feb 14, 2007 7:33 pm

In France we lost our French Franc to the Euro. Everything went up in the shops due to 'ROUNDING OFF'. In Cyprus, consumers should not be happy at the prospect of having the Euro but shopkeepers will be rubbing their hands with glee at the prospect of all that extra money........................ I hope the Cyprus Government will take note of the critism of the populations of former new members and control the future euro exchange rate in shops and businesses.
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