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Post by mh on Mar 23, 2013 0:12:54 GMT 1
Idea is not mine, but Ms. Merkel's, so all credits to her and her advisors. I was only humble to translate it into Croatian perspective, where the bank deposits are relativelly smaller (although bigger in apsolute terms, Cyprus and Croatia are comperable economies, with Cyprus 3 times smaller). I was also surprised that legal pretext is there, but it apparently is. As it is clear Croatia cant expect any help from EU, the next course of actions is clear. Also, keep in mind Croatia does not have any local bank and it was shown many times that mother banks like BNP, UniCredit or the Austrians will not move their finger but transfer any available funds from Croatia if needed. There is no or very little foreign investment from EU. If any, I expect Chinese, but that will be small. There is no reason for Croats to suffer if foreign investors are not suffering as well.
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Post by crojoe on Mar 23, 2013 9:55:45 GMT 1
Idea is not mine, but Ms. Merkel's, so all credits to her and her advisors. I was only humble to translate it into Croatian perspective, where the bank deposits are relativelly smaller (although bigger in apsolute terms, Cyprus and Croatia are comperable economies, with Cyprus 3 times smaller). I was also surprised that legal pretext is there, but it apparently is. As it is clear Croatia cant expect any help from EU, the next course of actions is clear. Also, keep in mind Croatia does not have any local bank and it was shown many times that mother banks like BNP, UniCredit or the Austrians will not move their finger but transfer any available funds from Croatia if needed. There is no or very little foreign investment from EU. If any, I expect Chinese, but that will be small. There is no reason for Croats to suffer if foreign investors are not suffering as well. This is what I don't get about you MH, it always goes back to the foreigners as though they brought all the bad onto Croatia. You act as though Croats can do no wrong and that they are pure saints and could never hurt a fly. I like Croats, I live there and married to one but it takes two to tango. You said it would be OK if the Croats suffer if the foreigners have suffered, in other words let's make foreigners suffer first then if we really have to then we can suffer a little. Whats a stinking attitude mate. I guess foreigners should go to war for Croatia, bail it out, feed it's people, baby them and not expect anything in return. I think your thinking about the biblical Millennium, which from all accounts has not happened yet, nor will it for the time being (we need a bit more hell on earth). You think you know but you don't. Why don't you get back to telling us how life is in your American neighborhood, the poor people you are bailing out, fighting injustice on the streets and being the "good guy Croat" (Like a recent policeman living and working in USA who won an award for going above and beyond the call of duty, and according to the news his ancestry was Croatian).
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Post by mh on Mar 23, 2013 11:43:40 GMT 1
You are tweaking CroJoe, Croats will not pay, will not go to war or anything else if not in their interest, that is my point. Sure lets be also clever and let others pay, fight or suffer, but that is not in Croats nature. And yes, Croats did nothing wrong to be the only one picking up the bills.
Back to the topic - The Plan B is to freeze all foreigner assets. Similar to Iceland, but Cyprus is not Iceland, it sound to me like the solution Slovenia did in 1992 and Croatia some time as well - bad bank, good bank, still in the Strasbourg court and daily topic in SLO-CRO relations.
So, moral of the story is - do you prefer a 5% haircut or a possibly decade freeze on your assets?
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Post by crojoe on Mar 23, 2013 12:19:40 GMT 1
You are tweaking CroJoe, Croats will not pay, will not go to war or anything else if not in their interest, that is my point. Sure lets be also clever and let others pay, fight or suffer, but that is not in Croats nature. And yes, Croats did nothing wrong to be the only one picking up the bills. Back to the topic - The Plan B is to freeze all foreigner assets. Similar to Iceland, but Cyprus is not Iceland, it sound to me like the solution Slovenia did in 1992 and Croatia some time as well - bad bank, good bank, still in the Strasbourg court and daily topic in SLO-CRO relations. So, moral of the story is - do you prefer a 5% haircut or a possibly decade freeze on your assets? Nice dream MH, but if and when you awake to reality, do hope on a plane and come to Croatia and help your fellow Croats put Croatia back on the straight and narrow.
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Post by zvekov on Mar 23, 2013 23:53:41 GMT 1
Mh ... I think Cyprus was a case of the banking regulator not serving the real interests of the banking system and now has come home to roost. Why they need anyone to bail them out is beyond me. They should let them go to the wall.. A haircut across the board... These were private banks in the real sense that thought they were commercial banks... I think depositors need to pay the price... But across the board... Not just above €100k, but that is academic...
With cro.. I just wonder how the nationalisation of meagre foreign real estate assets will help the government resolve anything... They need cash.. Not assets... The government has got assets already... They can't possibly pay any bills with assets... So nice try!! But maybe imposing a 5% tax on existing foreign assets may help... Then they can get the cash they need.. But owning an extra 5% of something they have in abundance means absolutely nothing.
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Post by crojoe on Mar 24, 2013 11:32:35 GMT 1
Mh ... I think Cyprus was a case of the banking regulator not serving the real interests of the banking system and now has come home to roost. Why they need anyone to bail them out is beyond me. They should let them go to the wall.. A haircut across the board... These were private banks in the real sense that thought they were commercial banks... I think depositors need to pay the price... But across the board... Not just above €100k, but that is academic... With cro.. I just wonder how the nationalisation of meagre foreign real estate assets will help the government resolve anything... They need cash.. Not assets... The government has got assets already... They can't possibly pay any bills with assets... So nice try!! But maybe imposing a 5% tax on existing foreign assets may help... Then they can get the cash they need.. But owning an extra 5% of something they have in abundance means absolutely nothing. So when Croatia get's the 4.5 billion EU donation on joining the EU then 5% of that should go to the government to pay of the debt (since it is foreign money)? It will probably go towards paying off the interest bill of the Croatian debt anyway.
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gramand
Full Member
[M0:0]Croatia what a wonderful place to be
Posts: 65
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Post by gramand on Apr 1, 2013 16:30:59 GMT 1
Perhaps that phrase, "paying the taxes" gets right to the nub of the problem. In Croatia it appears that people do not want to "pay the taxes". Already since fiscalisation it is most unusual to get a bill in a bar. If the government effectively cuts income tax from 25% to 10% and the mentality is to decide to not even pay that. What hope is there for the Country. The Croatian people want a Health Service, Education, honest Law and Policing, roads, Infrastructure, and so many other things, but if they do not want to pay tax when will they realise that they will get none of these things that they want so desperately.
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gramand
Full Member
[M0:0]Croatia what a wonderful place to be
Posts: 65
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Post by gramand on Apr 1, 2013 16:33:20 GMT 1
Perhaps that phrase, "paying the taxes" gets right to the nub of the problem. In Croatia it appears that people do not want to "pay the taxes". Already since fiscalisation it is most unusual to get a bill in a bar. If the government effectively cuts income tax from 25% to 10% and the mentality is to decide to not even pay that. What hope is there for the Country. The Croatian people want a Health Service, Education, honest Law and Policing, roads, Infrastructure, and so many other things, but if they do not want to pay tax when will they realise that they will get none of these things that they want so desperately.
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Post by ray51 on Apr 6, 2013 8:25:20 GMT 1
"Good"News @ Cyprus has turned out to be a veritable disaster for all Greek Cypriots - the old ones will die impoverished , the young ones see no perspective ...so , yet another good wave of youngsters emigrating to greener pastures is imminent . Anyone believes in Bilderberg rumours ? ( No , not Stevie Nicks & Mac ) Watch out for the next domino to fall , next door to HR , i.e. Dezhela ! Thank the EU & the EUro-currency-zone , for decent small countries - like SLOvenia was promising to become - folding into new-found poverty , banktrupcy and oblivion ; Portugal is still pending , also Malta - before more serious troubles occur in Italy , France , Spain..mark these my words ! Good & prosperous , happy & successful Weekend to all , R.J.M.
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