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Cyprus Comment: In the footsteps of the Greek economic model

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AlsancakJack



Joined: 14/08/2008
Posts: 5762

Message Posted:
04/02/2010 20:07

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Message 1 of 5 in Discussion

CYPRUS IMPACT

'The economic situation in Greece will, of course, affect Cyprus. We see here our own possible future. In a number of key areas, Cyprus is following all too closely in the economic footsteps of Greece. The government here has given up all hope of controlling the public sector (in this respect it is no different from previous governments). Pious wishes for a more egalitarian society have to eventually face some hard realities.

There is nothing egalitarian with the way the burden of the financial crisis is being shared in Cyprus. Crisis or no crisis, the public sector here grows and prospers. It is the private sector, particularly tourism and construction, that bear the full brunt of the economic decline.'



Read the full story here:

http://www.financialmirror.com/Columnist/COMMENT/586



AJ



mmmmmm



Joined: 19/12/2008
Posts: 8398

Message Posted:
04/02/2010 20:49

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Message 2 of 5 in Discussion

Ironically, you might find that 'TRNC' is top heavy in Civil servants, too ..



The article takes no account of the figures that suggest TR might be about to kill it's golden goose



http://www.timesonline.co.uk/tol/travel/news/article5481594.ece



ROBnJO


Joined: 30/06/2008
Posts: 1289

Message Posted:
04/02/2010 20:55

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Message 3 of 5 in Discussion

At least Turkey isn't teetering on Bankruptcy as Greece is.



AlsancakJack



Joined: 14/08/2008
Posts: 5762

Message Posted:
04/02/2010 21:05

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Message 4 of 5 in Discussion

Mark

I do not deny that the same is true of the TRNC but the TRNC and Turkey are not in the EU, they only have to answer to themselves and not the EU. As you are well aware the ROC lied about their fiscal status on admittance to the EU and the EU were aware of 'minor transgressions' and decided for political purposes to accept the ROC into its fold. Sometime ago we had a debate about Turkey and the IMF. Let us now see who needs the IMF.

AJ



AlsancakJack



Joined: 14/08/2008
Posts: 5762

Message Posted:
04/02/2010 22:11

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Message 5 of 5 in Discussion

No reply Mark?



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