cyprus downgrade how it affect North Cyprus

cavalryman


Joined: 08/11/2010
Posts: 314

Message Posted:
14/01/2012 16:26

The south down another two notches any idea how many left they must be close to junk now surely.What difference will it make to Trnc it will cost them more to borrow unless the communista do special deals but if the euro continues to fall it MIGHT make the south cheaper to holiday.

Jonholmes


Joined: 08/11/2011
Posts: 184

Message Posted:
14/01/2012 16:42

Country Old Rating New Rating Cut



Austria AAA AA+ One notch, loses top rating



Belgium AA AA None



Cyprus BBB BB+ Two notches to junk



Estonia AA- AA- None



Finland AAA AAA None



France AAA AA+ One notch, loses top rating

Jonholmes


Joined: 08/11/2011
Posts: 184

Message Posted:
14/01/2012 16:43

Germany AAA AAA None



Ireland BBB+ BBB+ None



Italy A BBB+ Two notches



Luxembourg AAA AAA None



Malta A A- One notch



Netherlands AAA AAA None



Portugal BBB- BB Two notches to junk



Slovakia A+ A One notch



Slovenia AA- A+ One notch



Spain AA- A Two notches

tania


Joined: 09/12/2011
Posts: 116

Message Posted:
14/01/2012 18:56

Italy, Spain, Cyprus and Portugal were cut two notches, with the latter two given "junk" ratings. Germany kept its AAA rating.



http://www.bbc.co.uk/news/world-europe-16558465



Cyprus - junk

Jonholmes


Joined: 08/11/2011
Posts: 184

Message Posted:
14/01/2012 19:14

My apologies I read it as 2 more down it would be junk, not 2 down into junk, my bad .

rowlo



Joined: 12/10/2008
Posts: 4796

Message Posted:
14/01/2012 20:29

will make no difference to trnc ,

Jonholmes


Joined: 08/11/2011
Posts: 184

Message Posted:
15/01/2012 02:26

Rowlo, if may affect the hundreds of T/Cs who work there , so in effect it may not help the indigenous people.

canada


Joined: 17/05/2011
Posts: 195

Message Posted:
15/01/2012 18:34

the trnc is financially supported by turkey .it cannot be downgrade

as long as turkey is paying the bills all is well

rowlo



Joined: 12/10/2008
Posts: 4796

Message Posted:
15/01/2012 19:06

msg7, it made no difference to trnc when they entered somewhat cloak and dagger like , so why will it make any difference now? they are greek , let them be greek and all that goes with it .

Ed1957


Joined: 03/09/2011
Posts: 377

Message Posted:
15/01/2012 19:11

Let's hope the TRNC can afford the 13th salary for the 'memurs'

mikelapta



Joined: 20/11/2008
Posts: 2186

Message Posted:
15/01/2012 19:14

Please explain,is the ROC supported by GreeceOr is it meant to be an independent country ?



Whatever,if Greece defaults,and,it looks sooner than later,will ROC go down the pan too?



Mike

girne 29


Joined: 06/12/2007
Posts: 1488

Message Posted:
15/01/2012 19:32

Canada

'the trnc is financially supported by turkey .it cannot be downgrade



as long as turkey is paying the bills all is well ''



Exactly,nothing that happens in the outside world will affect TRNC except through any effects on Turkey'



Instead of worrying about ROC, the TRNC should be more worried about Turkey, and hope that austerity measures do not see questions asked and protests from, a relatively low paid taxpaying base about their hard earned tax lira being used to keep a large minority of free loaders in NC in Humvees and Beemers,without any advantage to the majority of non property owning or non civil servant,non politician, TC's. Questions that taxpayers throughout Europe are starting to ask of their ruling elites.