For those of you shopping in the South

Traveller0392


Joined: 21/03/2008
Posts: 186

Message Posted:
07/02/2010 23:03

Hi all,



quick question for anyone who shops in the Greek side.



What are the prices in the likes of Carrefour and Ikea... are they rising? Or not noticed much of a change.



And also, what rate is the local exchange shop at Metahan giving on Sterling to Euros? Sorry that was 2 questions.



The reason I ask, is that the Euro/Pound rate is falling and with all recent speculation on the Greek economy and the European Union, where it is likely to be heading. Over the past 5 years the Euro/pound was fairly stable, but over the last 12 months it has the same highs and lows as the TL/Pound..... so is this a good time to sell Euros or Buy?



Thanks in anticipation for your comments.

Traveller0392


Joined: 21/03/2008
Posts: 186

Message Posted:
07/02/2010 23:09

http://www.dailymail.co.uk/debate/article-1248917/Why-euro-fracture-despite-mistakes-thank-God-Mr-Brown-kept-it.html



This is very confusing to read, but basically it is saying... well done Gordy for not going into the Euro... how true this is now perhaps.....



Still waiting for any comments from anyone...

Traveller0392


Joined: 21/03/2008
Posts: 186

Message Posted:
07/02/2010 23:20

Or do you believe what is written here in the Daily Mail? http://www.dailymail.co.uk/news/article-1248584/European-economy-crisis-panic-leads-euro-tumble-jolt-stock-market.html



This is really going to be interesting, seeing as the GC side so warmly welcomed the Euro and this has now hit them really hard in terms of forcasts for the 2010 tourism season... and it's World Cup year again.... everyone will be at home watching the good old team in S Africa .... more devastation to the Euro zone .......



Anyway... 30 odd or so people have read this since I posted it and now one has answered, so I'm guessing everyone in good old Kuzey Kibris is warmly tucked up in bed and only people from the UK or the ....mmm.. other side are reading this...



Does anyone know what the exchange rate for Euros to pounds is at the moment at Metahan crossing? Please!

Baspinar Bob


Joined: 15/02/2008
Posts: 618

Message Posted:
08/02/2010 08:08

Traveller0392



At the moment the rate at Metahan is 1.1 Euro to 1Stg. Prices in the south have risen, to the extent that many expats no longer shop there. Insurance is also a factor at 25 Euros per month, i hope this helps.



Bob.

fiendishpaul


Joined: 18/05/2008
Posts: 1720

Message Posted:
08/02/2010 08:15

Some things are very expensive in the South, particularly if you want to eat out. However, if you shop around you will find some bargains. We buy some of our stuff in the South, some in the North and some in the UK. It all depends what you are after.



Paul

Geoff


Joined: 25/06/2008
Posts: 1370

Message Posted:
08/02/2010 09:56

Meat is cheaper in the south, fish is cheaper in the north. Everything else is more or less the same taken over a typical family shopping basket. Village loaves are much cheaper here in the north. Alcoholic drinks are in general cheaper in the south, fags are much cheaper here provided you smoke the local brands,

In conclusion swings and roundabouts, shop around.

Geoff

GreenArmy


Joined: 26/10/2009
Posts: 31

Message Posted:
08/02/2010 10:16

I live in the south and buy annual car insurance for my visits to the north for 80 euros a year. I think that supermarket prices in the south are higher than the north, particularly for UK products. However, there are one or two smaller, dry goods shops importing and selling at much less than the big stores , often less than half price.

Lidls are opening in the south this year so hopefully the fireworks will begin, that is if the church/government allows them !

TRNCVaughan


Joined: 27/04/2008
Posts: 4578

Message Posted:
08/02/2010 10:23

Surely, post the Orams judgement, it's time we took a page out of the GC's book and stopped spending money on the "other" side?

fiendishpaul


Joined: 18/05/2008
Posts: 1720

Message Posted:
08/02/2010 10:39

Sorry Vaughan but I disagree. It's a free market and people should be able to spend their money wherever they please.



Paul

TRNCVaughan


Joined: 27/04/2008
Posts: 4578

Message Posted:
08/02/2010 10:51

Quite agree with you Paul, under normal circumstances.

The GCs are happliy trying to undermine the economy of the TRNC and contribute to their effort by Boycotting spending money in the North. Many refuse to buy anything here on principle.

Don't we have principles too when it comes to defending our adopted homeland?

GreenArmy


Joined: 26/10/2009
Posts: 31

Message Posted:
08/02/2010 11:00

A lot of GC's refuse to come across or won't spend anything but that doesn't stop others coming over to play the casinos as the church won't allow them to exist in the south. Farcical really because they now have small, seedy betting shops on every street corner.

fiendishpaul


Joined: 18/05/2008
Posts: 1720

Message Posted:
08/02/2010 11:10

Vaughan



"Many refuse to buy anything here on principle" - I would prefer to call it narrow minded bigotry. As GreenArmy points out, they are happy to come over here to use the casinos Free-will should rule over bigotry everytime and I would rather express my free-will than lower myself to their actions.



Just my opinion of course.



Paul

Dusterbruce


Joined: 03/08/2007
Posts: 1125

Message Posted:
08/02/2010 11:38

As well as the casinos, they also come over to use the 'night clubs'

Traveller0392


Joined: 21/03/2008
Posts: 186

Message Posted:
08/02/2010 12:25

Hi All,



Many thanks for the insight.... and it is interesting to note, from Baspinar Bob, that the rate of 1.1 Euro to the pound, seems to be one where they are even giving you a good rate, compared to the rest of Europe.... in London, typically you only get 1.14 or worse to the pound.... as you all say, free market and shop around, nothing to do with customer loyalty these days.



I am watching with interest how the drama unfolds with the Euro debts that will at some point come to light in respect of the looming crisis as reported in my earlier posts. If it goes back to the state where the Euro is similar to the rates we saw a few years ago, then dump the Euro like a 'hot potato'.... but how much of our precious Sterling has been invested by our Hedge fund managers in these countries may have a knock back effect still needs to be seen. But certainly the Euro rate for the past couple of years has seen rises and falls similar to that of the Pound and Lira... thanks for the comment

TRNCVaughan


Joined: 27/04/2008
Posts: 4578

Message Posted:
08/02/2010 13:09

1.1 Euro to the pound is a WORSE rate than 1.14....

fiendishpaul


Joined: 18/05/2008
Posts: 1720

Message Posted:
08/02/2010 13:10

Well spotted Vaughan

TRNCVaughan


Joined: 27/04/2008
Posts: 4578

Message Posted:
08/02/2010 13:23

I'm still not comfortable with the idea of spending money in the South and I don't see that as lowering myself to their standards.

The Casino/Nightclub answer is a bit of a red herring as most of the money goes back to Turkey and/or the mafia, and not into the TRNC economy.

In any case, the fact that GCs are prepared to frequent them is due to their baseness overcoming their "principles" and not the free market in action.

girne 29


Joined: 06/12/2007
Posts: 1488

Message Posted:
08/02/2010 14:17

I note one of the reasons given for being glad to be outside the Euro is that we have been able to devalue £ by 25% relative to the Euro,and thats good for exports.

Forgive me but it wasnt our brilliance at work,WE didnt devalue the pound ,it was the natural consequence of investors pulling the plug on crappy UK economy.

In order to get that money back we had to bribe the bankers by giving them 25% more Pounds for their Euros. As for having a poor £ improving our exports ,hasnt worked as we are still one of the poorest economies in the EU as far as recession goes.



Using the Daily Mails logic, it will be even better when our independence from the Euro ,allows us to devalue to £1=10Euro and similar in Dollars or Yen.

I remember when a strong currency was the sign of a country's economic stability, obviously for a lot of people the argument has been turned on its head.Now its great the pound is crap!

fiendishpaul


Joined: 18/05/2008
Posts: 1720

Message Posted:
08/02/2010 14:37

Vaughan



Your free choice which I of course respect.



As for me, if I need something that I can't get here then I am happy to go over there to get it. I am a 'paying' guest in this country with no real rights, so please forgive me if I don't really feel any 'loyalty' per se.



Regards



Paul

TRNCVaughan


Joined: 27/04/2008
Posts: 4578

Message Posted:
08/02/2010 15:25

Hi Paul,



I think if it can be argued that what you buy over there is something which can't be sourced over here, I'll go along with you. Similarly, if there is a huge cost difference in like-for-like items, I'll go along with that too, albeit reluctantly.



We may only be guests in this country but I feel we need to support our hosts if we want to stay here securely into the future.



If we left it up to the GCs, there would be no future for this country.



regards



Vaughan

fiendishpaul


Joined: 18/05/2008
Posts: 1720

Message Posted:
08/02/2010 16:05

Vaughan



Agreed



Have a good day



regards



Paul

Traveller0392


Joined: 21/03/2008
Posts: 186

Message Posted:
08/02/2010 18:10

Dear Mr Vaughan,



Re Message 15:



It depends if you are buying Euros or in my case....'Selling' ..... so the reason that I then say it is worse to buy at the 1.14 rate. This then raises a few more questions, albeit for another day. Watch this space.



thanks for pointing out my mistake ....



In summary, you are getting a good deal for pounds in Cyprus compared to the UK. at 1.1 Euro to the Pound, which is a better rate of exchange if you are selling pounds to buy Euros is probably what I should have said.



PS. Still snowing in the UK .... lots... and more expected this week. Stay there guys.... recession still biting here, jobs are short on the ground and the weather is crap .... and the government are all crooks.... well, 4 of them at least .... certainly adds to the entertainment on the BBC ...

kibsolar


Joined: 14/09/2008
Posts: 552

Message Posted:
08/02/2010 19:09

msg 18

as i remember, the STG was quite stable to the (euro , here deutschmark) for a long time....until .... the iron lady came and turned the UK economy into a "bankers heaven", producers and also the agriculture have been left alone. this appeared to be good at first, but after the bankers did their job (squeeze out the economy), nothing was left. the only way was to devaluate the STG to have at least a little chance to sell in the meantime quite unattractive products to try to cover the unbelievable debts.... (same applies for the US)

you cannot devaluate more as it is now, otherwise imports are impossible. and the UK depend on imports due to its non investments for nearly 25 years into the production sector.

where will it go?

girne 29


Joined: 06/12/2007
Posts: 1488

Message Posted:
08/02/2010 19:30

kibsolar

I agree, another thing in hindsight was the destruction of manufacturing industry . Instead of trying to modernise to compete ,we decided there was more money to be made by relying on the financial sector to bring in quick easy money,which is why we are worse off than everyone else,we have nothing else to fall back on but discredited financial institutions.

Now its seems for some, that our best chance of getting back on the ladder is for the Euro to fail,pretty sad we have to rely on that as our main plan for recovery.How the mighty have fallen!

The Euro has to crash by 30% before it even gets to the same position of 5 years ago.

If the EU and/or the Euro fail it will be a double edged sword . I mean, who will we be able to blame for our inadequacies then ?

karakum5c



Joined: 18/03/2008
Posts: 1021

Message Posted:
08/02/2010 20:27

Never spend a Euro in the south myself not even for a bottle of water or a sandwich, use their airports though and of course do not find any conflict of interest in using their toilets. Thats the only thing i leave of me on the Dark Side !

kibsolar


Joined: 14/09/2008
Posts: 552

Message Posted:
08/02/2010 20:28

yes, now its a double edged sword!

the euro always was open for the UK! Blair certainly wanted it, but the "unholy coalition of british ( and american) bankers" did use the public to refuse that. the euro never meant that single european economies will get richer than other ones.... the idea was that this is over now and europe gets stabilized. but that was not the idea of the bankers. but britain is similar to opel/vauxhall: a 55 million economy cant survive in this big pot of sharks unless they have good weapons. and britain fought back: first they put lehmans down (henry Paulson: "the britons ripped us off"), making huge debts and they refuse eg taxation of transactions (for derivates and the lot).

great idea. the europeans really love the britains for that. the same they love the greeks.

what will the EU do with the greeks? maybe visa free entrance to the EU for TR citizens? (traffic jam at Orphanides has thousands storm the greek side) what they will do to the british?