Cyprus-Forum.com

[Kikapu]

It will also mean the end of Greek Youth in Greece unless of course they are from a wealthy family.
Greece will only be for the wealthy.

Greece needs a reduction of its debt to 100% of GDP. It is currently about 190%.

Greece is also paying an interest spread between 6 and 10.5%, while the USA are paying under 1%.

If they don't get the haircut, then they should default and send the markets into a spin.

The pain inflicted on all Greek citizens is short term compared to decades upon decades of Austerity where Greek workers are working for peanuts and pensioners are below the poverty line and their youth can't find jobs.

Greece pays a lower % of its GDP in debt repayment than other European countries. It's getting progressively worse because the amateurs "running" the country think it's a poker game.

Go and tell the citizens of Greece they will only have to go hungry "short term", that should cheer them up.

Let's have a source for your 6 and 10.5%

Given that interest rates have fallen significantly from 2014, actual interest expenditures of Greece will be likely below 2pc of GDP in 2015, if Greece will meet the conditions of the bail-out programm
http://www.telegraph.co.uk/finance/econ ... ntain.html

At one stage, Greece was paying 17% in interest. You look for the source yourself. The rates are readily available for Greek Bonds on the Internet. They are also shown on CNBC, Bloomberg, Sky News and BBC Business.

The choice is not a good one but yes, it's only logical that short term starvation is a damn sight better than long term starvation and slave labour and no future for 3 generations at least.

I am speaking to local Greeks now, and whilst some will vote YES, many will vote NO because they can't see an exit or sustainable debt management for decades.

No, I've looked and can't find a source that says the ECB or IMF charge Greece anything like 17%, stop making things up or give me a link to a reliable source.

I think the 17% Paphitis referring to, is what it cost Greece at the time before the bail out, to pay as an interest on sold bonds, in order for Greece to get some hard cash.

[Paphitis]

It will also mean the end of Greek Youth in Greece unless of course they are from a wealthy family.
Greece will only be for the wealthy.

Greece needs a reduction of its debt to 100% of GDP. It is currently about 190%.

Greece is also paying an interest spread between 6 and 10.5%, while the USA are paying under 1%.

If they don't get the haircut, then they should default and send the markets into a spin.

The pain inflicted on all Greek citizens is short term compared to decades upon decades of Austerity where Greek workers are working for peanuts and pensioners are below the poverty line and their youth can't find jobs.

Greece pays a lower % of its GDP in debt repayment than other European countries. It's getting progressively worse because the amateurs "running" the country think it's a poker game.

Go and tell the citizens of Greece they will only have to go hungry "short term", that should cheer them up.

Let's have a source for your 6 and 10.5%

Given that interest rates have fallen significantly from 2014, actual interest expenditures of Greece will be likely below 2pc of GDP in 2015, if Greece will meet the conditions of the bail-out programm
http://www.telegraph.co.uk/finance/econ ... ntain.html

At one stage, Greece was paying 17% in interest. You look for the source yourself. The rates are readily available for Greek Bonds on the Internet. They are also shown on CNBC, Bloomberg, Sky News and BBC Business.

The choice is not a good one but yes, it's only logical that short term starvation is a damn sight better than long term starvation and slave labour and no future for 3 generations at least.

I am speaking to local Greeks now, and whilst some will vote YES, many will vote NO because they can't see an exit or sustainable debt management for decades.

No, I've looked and can't find a source that says the ECB or IMF charge Greece anything like 17%, stop making things up or give me a link to a reliable source.

I think the 17% Paphitis referring to, is what it cost Greece at the time before the bail out, to pay as an interest on sold bonds, in order for Greece to get some hard cash.

Yes that was pre bailout.

But, the current 10 year Greek Bond matures at 10.2% last time I checked. There are different rates for 5 year, 2 year, 1 year bonds etc and the spread is about 6 to 10%.

The rates might have gone up when Standard and Poors degraded Greece to C minus.

Germany, USA, UK are borrowing at under under 1% with their AAA ratings.

[Kikapu]

No, I've looked and can't find a source that says the ECB or IMF charge Greece anything like 17%, stop making things up or give me a link to a reliable source.

I think the 17% Paphitis referring to, is what it cost Greece at the time before the bail out, to pay as an interest on sold bonds, in order for Greece to get some hard cash.

Yes that was pre bailout.

But, the current 10 year Greek Bond matures at 10.2% last time I checked. There are different rates for 5 year, 2 year, 1 year bonds etc and the spread is about 6 to 10%.

The rates might have gone up when Standard and Poors degraded Greece to C minus.

Germany, USA, UK are borrowing at under under 1% with their AAA ratings.

Yes Paphitis, but those bond rates are different rates than what the interests rates are on the bail-out, which I have not even bothered to check it, but are most definitely way below the past and present bond rates for sure.

[Lordo]

are people gone mad, talking about griik bonds. who the hell is going to buy griik bonds now. have you not been learned nufink.

[Kikapu]

has terggy collapsed yet kikapu

Tic-tock....... tick-tock.......tick-tock.............!

Fitch: Turkish firms vulnerable to foreign exchange risks

July 03, 2015, Friday/ 17:56:07/ TODAY'S ZAMAN / ISTANBUL

Turkey is the most vulnerable country among European, Middle Eastern and African nations in regards to foreign exchange risks, according to an announcement by credit rating agency Fitch on Friday.
More than 85 percent of Turkish companies' foreign debt is denominated in dollars, even though their revenues are primarily in lira, according to Fitch.
This reality has become a nightmare for Turkish firms as the lira emerged as one of the worst performing currencies among developing countries this year, losing around 13 percent of its value. As the lira weakened, Turkish firms have been forced to dip further into their revenues in order to cover the ballooning debt that has resulted from the devaluation.
The sinking lira has resulted in a number of firms going bankrupt in Turkey in recent months, while exporters have been disappointed by a major decrease in outflowing goods.

http://www.todayszaman.com/business_fit ... 92788.html

[Paphitis]

are people gone mad, talking about griik bonds. who the hell is going to buy griik bonds now. have you not been learned nufink.

A lot of Banks are buying the Bonds at higher interest rates. The interest rates are set precisely so that they attract buyers.

I wouldn't be buying but there are Financial Institutions like Goldman and Sachs who do.

[Nikitas]

Jerry said:

"Hopefully that will mean the end of the amateur big-shot politicians and a return to reality with the usual professional crooked politicians."

Sad but true that in a few months after the election it gets to this.

Mind you, the orgy of nepotistic appointments made by these young mandarins has been an eye opener, so who know how they will be in the corruption stakes in the future. One satirical paper today wrote that the new drachma bills will have a portrait of Tsotsoros on them, the guy who gave himself a 70 per cent pay rise last week, bringing his salary to 280 000 per annum.


Since the election the Athens stock aexchange has been through a roller coaster of highs and lows. Anyone with some insider info on the series of non papers would have made a killing several times over. Just a thought.... nothing more. We know that such things do not happen here.

[Cap]

Nikitas input has been pretty much revealing.

But I bet some of the Diaspora reading this forum have been stunned into slack-jawed silence.

[Paphitis]

Nikitas input has been pretty much revealing.

But I bet some of the Diaspora reading this forum have been stunned into slack-jawed silence.

Yes perhaps people in the Diaspora (like you) who have no clue about Greece should keep their mouth shut.

I am in Greece right now, visit yearly and sometimes 2 times per year. I have also put my money where my mouth is when it comes to Greece and pretty much forgotten about the shit hole known as Cyprus because that is what it is as far as I am concerned.

[Cap]

Nikitas input has been pretty much revealing.

But I bet some of the Diaspora reading this forum have been stunned into slack-jawed silence.

Yes perhaps people in the Diaspora (like you) who have no clue about Greece should keep their mouth shut.

I am in Greece right now, visit yearly and sometimes 2 times per year. I have also put my money where my mouth is when it comes to Greece and pretty much forgotten about the shit hole known as Cyprus because that is what it is as far as I am concerned.

Actually I think I've been pretty quiet on this topic in comparison to you.
But I am entitled to my opinion.

And where is Nikitas? Mars?
Others live there and others who don't seem to have the biggest mouths.