"Cyprus should leave the euro. Now.Or as I wrote last week:
...
What’s the path forward? Cyprus needs to have a tourist boom, plus a rapid growth of other exports — my guess would be agriculture as a driver, although I don’t know much about it. The obvious way to get there is through a large devaluation; yes, in the end this probably does come down to cheap deals that attract lots of British package tours."
"On the positive side, when Cyprus does leave the Euro behind, I'm grabbing a new passport and booking my first-ever trip to Cyprus!"And I'm quite serious about it, too. I'm thinking "Non-Euro" Vacation, Fall 2013. GB ---> CY ---> GB. I'd love to visit Greece, because it is so close, but there's a Euro problem (meaning, that it'll be overpriced simply because of the USD/EUR rate).
But as we've seen with Greece, Cyprus will probably settle for no growth, out of a perverse hope to stay in the Euro.
No comments:
Post a Comment