Cyprus Eastern Forum Archive


This is a text archive version of our main content. To view the full site with more information, features, formatting and images please click here.

>> Eastern Cyprus Forum Archive Index

View The Full Original Topic: The economy is not as great as the Government claim.........


>> Have YOUR say - Post A Reply To This Topic

Posted By: bubblechris

The opposition parties are also surprised at the ratings upgrades when the total level of the non performing loans has still not dealt with and could still deal a devastating blow to Cyprus if it is not resolved. The very large loans, hundreds of millions, are still the main culprit but nothing is being done about them. Also why are the Government selling bonds at 4.25% when they could get much cheaper money from the Troika, I believe 2%?



Posted By: ProVox

  • bubblechris wrote:
    The opposition parties are also surprised at the ratings upgrades when the total level of the non performing loans has still not dealt with and could still deal a devastating blow to Cyprus if it is not resolved.
    The very large loans, hundreds of millions, are still the main culprit but nothing is being done about them.
    Also why are the Government selling bonds at 4.25% when they could get much cheaper money from the Troika, I believe 2%?

It doesn't take a great deal of brain power to work that out providing you can work it out for yourself .... if you wait for an honest report from the government or media you will have a long wait. :roll:

Posted By: bubblechris

More proof?
http://in-cyprus.com/cyprus-bonds-success-debatable/
    Quote:
  • “Persistent inadequacies in handling the problems of the banking sector still pose a high enough risk for markets to price the risk associated with Cypriot government borrowing considerably higher than for other eurozone countries,” said Marios Zachariadis, Associate Professor of Economics at the University of Cyprus.


Posted By: Kwacka

  • bubblechris wrote:

    Also why are the Government selling bonds at 4.25% when they could get much cheaper money from the Troika, I believe 2%?

Any deal with the troika comes with strings attached, the EU ECD and (especially) the IMF want to ensure they get their money back, even if it leaves a country worse off.

Posted By: bubblechris

  • Kwacka wrote:
    • bubblechris wrote:

      Also why are the Government selling bonds at 4.25% when they could get much cheaper money from the Troika, I believe 2%?

    Any deal with the troika comes with strings attached, the EU ECD and (especially) the IMF want to ensure they get their money back, even if it leaves a country worse off.

You mean the disaster that is Greece?
God help us, only he can save us from this Government and the biggest disaster that is the European Central Bank.

Posted By: spanner

  • bubblechris wrote:
    • Kwacka wrote:
      • bubblechris wrote:

        Also why are the Government selling bonds at 4.25% when they could get much cheaper money from the Troika, I believe 2%?

      Any deal with the troika comes with strings attached, the EU ECD and (especially) the IMF want to ensure they get their money back, even if it leaves a country worse off.

    You mean the disaster that is Greece?
    God help us, only he can save us from this Government and the biggest disaster that is the European Central Bank.

Pity he couldn't have saved us from the previous Government!

Posted By: bubblechris

Or unfortunately yourself..........................

Posted By: DAC

Last week I saw a Daily Politics program with Yanis Varoufakis as the guest speaker, interestingly he said that from the latest €85 billion bailout, that Greece would receive €0 as the entire amount would be used to repay previous bailout debts. http://www.bbc.co.uk/programmes/p0360pyr So probably also the reason why Cyprus has avoided any further dealings with the troika.





Posted By: bubblechris

  • DAC wrote:
    Last week I saw a Daily Politics program with Yanis Varoufakis as the guest speaker, interestingly he said that from the latest €85 billion bailout, that Greece would receive €0 as the entire amount would be used to repay previous bailout debts.
    http://www.bbc.co.uk/programmes/p0360pyr
    So probably also the reason why Cyprus has avoided any further dealings with the troika.

avoided any dealings? In what way?
They have and still want to impose further cuts and political acts that were not in the original MOU.
They sold Cyprus down the river and instead of looking after those that bore the brunt of their criminal acts have done everything they can to make the rich richer and the poor poorer.

Posted By: Byker

  • bubblechris wrote:

    Also why are the Government selling bonds at 4.25% when they could get much cheaper money from the Troika, I believe 2%?

Who are buying those bonds?

Posted By: bubblechris

If I understood correctly people seeking a higher return than they get from other Countries and the ECB has taken up a lot of them? Higher rates given on these bonds means higher local rates? This Government do not appear to want to reduce rates.

Posted By: spanner

  • bubblechris wrote:
    If I understood correctly people seeking a higher return than they get from other Countries and the ECB has taken up a lot of them?
    Higher rates given on these bonds means higher local rates? This Government do not appear to want to reduce rates.

There is a reason they can't get the cheap funds from the Troika for non-adjustment programme use.
    Quote:
  • Klaus Regling, the managing director of the European Stability Mechanism, who was also keynote speaker at the conference, ruled out an alternative use of the remaining bailout funds, which are made available to Cyprus below market rate, and allow significant savings for the Cypriot government which has accumulated a debt to gross domestic product ratio of 108 per cent in 2014.
    Using the remaining funds for other purposes would be “outside the mandate” of the ESM and would run counter to existing eurogroup decisions, he said.
    http://cyprusbusinessmail.com/?p=16925


Posted By: bubblechris

Makes the Government more foolish for signing the MOU as it was presented to them. Not only did they rob the 2 Cypriot Banks customer they are preventing the legally elected Government of the Island from taking action wherever they deem necessary. Possibly a blessing in this case.

Posted By: spanner

  • bubblechris wrote:
    Makes the Government more foolish for signing the MOU as it was presented to them. Not only did they rob the 2 Cypriot Banks customer they are preventing the legally elected Government of the Island from taking action wherever they deem necessary. Possibly a blessing in this case.

If they hadn't signed the MOU we would have all had to emigrate to the UK, but I don't think I would have picked Winchmore Hill!


[ ADVERTS: UK Stores Delivering To Cyprus | Find eBay Misspellings - Grab A Bargain! ]



Viewing Cyprus Eastern Forum Archive - Lo-Fi Version | Visit Cyprus Eastern Forum - Full Version | Questions?

TOP TIP: BUYING PROPERTY IN CYPRUS? PLEASE ENSURE THAT YOU SEEK INDEPENDANT LEGAL ADVICE FIRST.
Cyprus forum covering Kapparis, Protaras, Pernera, Agia Napa, Agia Thekla, Paralimni, Larnaca, Oroklini, Pervolia & surrounding areas
Please note that the views expressed on this forum are those of the author and may not reflect the views of the management.