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Well At Least 1 Businessman Thinks The Eu Is Broken.
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Cyprus is the reason Turkey will not join the EU for many years. Turkey occupies half of Cyprus including all of what were the best tourist areas.
The Turkish occupation of Cyprus must end, and with it all Turkish claims to Cyprus before it's membership of the EU can be ratified. That is not going to happen any time soon!. Northern Cyprus is now officially a 'no go' area under the control of United Nations military forces with no legally recognized government.
Your link shows that Cypriot banks exposure to Greek loans is due to the fact helping Greece was seen as the only possible way to counter the Turkish demands for Cyprus territory.( rather than EU intervention.)
The Turkish occupation of Cyprus must end, and with it all Turkish claims to Cyprus before it's membership of the EU can be ratified. That is not going to happen any time soon!. Northern Cyprus is now officially a 'no go' area under the control of United Nations military forces with no legally recognized government.
Your link shows that Cypriot banks exposure to Greek loans is due to the fact helping Greece was seen as the only possible way to counter the Turkish demands for Cyprus territory.( rather than EU intervention.)
Cyprus was already a broken country. And most of this guy's arguments, while perhaps applicable to the Euro, are not necessarily applicable to the EU.
Greece also could have solved its financial problems by leaving the Euro, and in fact, wouldn't have had such severe problems if it had never joined.
What he says about the Government passing the debts on to ordinary people are quite resonant, though, as that's precisely what the UK government has been doing.
Greece also could have solved its financial problems by leaving the Euro, and in fact, wouldn't have had such severe problems if it had never joined.
What he says about the Government passing the debts on to ordinary people are quite resonant, though, as that's precisely what the UK government has been doing.
^^ I know the link does not mention Turkey but the 'Turkish Problem' is the main reason Cyprus invested heavily in Greek banks and that has nothing to do with the EU. Turkey invaded Cyprus (1974?) and still occupies what were the best and most profitable tourist areas today. Turkey has caused the main financial problems to Cyprus.
Northern Cyprus is now officially a 'no go' area
that's a bit out of date. Plenty of tourists go there (including me a couple of times) and have great holidays. About all the FO says is watch out for the terrible driving; but that's north as well as south, as it has no separate advice for North Cyprus.
that's a bit out of date. Plenty of tourists go there (including me a couple of times) and have great holidays. About all the FO says is watch out for the terrible driving; but that's north as well as south, as it has no separate advice for North Cyprus.
//Turkish Problem' is the main reason Cyprus invested heavily in Greek banks and that has nothing to do with the EU.//
Who says it is ? You?
//The financial sector was allowed to grow out of control and our banking system rocketed to the equivalent of eight times gross domestic product (GDP) — more than double what it should be. Since 2007 Cyprus has been focusing on financial services — all under the watch of the European Central Bank (ECB) — and the banking system grew from being worth around 78billion euros to around 126billion euros.
Cyprus was encouraged to make loans to Greece by the Eurozone, including German Chancellor Angela Merkel.
This was negotiated by the ECB — but has turned out to have cost the country dearly.//
Greece defaulted on the loans. What has that got to do with Turkey? Ohh and I know all about the "Turkish" invasion of Cyprus and the squabble with the Greek orthodox Archbishop Makarios president, so no diverting and obfuscation there please. I was 26 yrs old when the Cypriot invasion took place and remember it very well.
Who says it is ? You?
//The financial sector was allowed to grow out of control and our banking system rocketed to the equivalent of eight times gross domestic product (GDP) — more than double what it should be. Since 2007 Cyprus has been focusing on financial services — all under the watch of the European Central Bank (ECB) — and the banking system grew from being worth around 78billion euros to around 126billion euros.
Cyprus was encouraged to make loans to Greece by the Eurozone, including German Chancellor Angela Merkel.
This was negotiated by the ECB — but has turned out to have cost the country dearly.//
Greece defaulted on the loans. What has that got to do with Turkey? Ohh and I know all about the "Turkish" invasion of Cyprus and the squabble with the Greek orthodox Archbishop Makarios president, so no diverting and obfuscation there please. I was 26 yrs old when the Cypriot invasion took place and remember it very well.
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