British Expats - Search Results

Search: Posts Made By: Michael

Showing results 1 to 6 of 6
Search took 0.07 seconds.

Forum: Cyprus

Mar 30th 2013, 3:42 am

Replies: 36

Thinking of moving to Cyprus, is it a bad time?

Views: 19,555

Posted By Michael

Re: Thinking of moving to Cyprus, is it a bad time?

You are watching too many conservative news programs. $16 trillion national debt and $1 trillion annual deficits sounds very bad but when you delve into the real figures, it's not as bad as it looks....

Forum: Cyprus

Mar 29th 2013, 9:38 pm

Replies: 36

Thinking of moving to Cyprus, is it a bad time?

Views: 19,555

Posted By Michael

Re: Thinking of moving to Cyprus, is it a bad time?

Luxembourg is the granddaddy of them all when it comes to banking systems. It has assets of 2,700% of GDP or about 4x what Cyprus had. A loss of just 4% of it's banking assets would be greater than...

Forum: Cyprus

Mar 28th 2013, 8:59 am

Replies: 36

Thinking of moving to Cyprus, is it a bad time?

Views: 19,555

Posted By Michael

Re: Thinking of moving to Cyprus, is it a bad time?

I was just watching the news and someone representing the Cyprus central bank indicated that some money was taken out of other European branches but the amount was in the millions and not billions....

Forum: Cyprus

Mar 28th 2013, 8:38 am

Replies: 36

Thinking of moving to Cyprus, is it a bad time?

Views: 19,555

Posted By Michael

Re: Thinking of moving to Cyprus, is it a bad time?

It appears that you are correct since €4.2bn in Laiki deposits (if still in the bank) of more than €100,000 will be placed in a "bad bank", meaning they could be wiped out entirely. However total...

Forum: Cyprus

Mar 28th 2013, 8:08 am

Replies: 36

Thinking of moving to Cyprus, is it a bad time?

Views: 19,555

Posted By Michael

Re: Thinking of moving to Cyprus, is it a bad time?

That is true but believe it or not, Laiki branches in other countries in Europe were not closed. According to the news, there is a possibility that the Russians and other foreigners were able to pull...

Forum: Cyprus

Mar 28th 2013, 7:08 am

Replies: 36

Thinking of moving to Cyprus, is it a bad time?

Views: 19,555

Posted By Michael

Re: Thinking of moving to Cyprus, is it a bad time?

In my opinion, the main problem is that the Cyprus banking system with assets of 750% of GDP will likely shrink significantly. The Cyprus banking system with it's tax haven, secrecy, and high...

Showing results 1 to 6 of 6