Cruisers Forum
 


Join CruisersForum Today

Reply
 
Thread Tools Rate Thread Display Modes
Old 17-03-2013, 17:40   #241
Senior Cruiser
 
atoll's Avatar

Cruisers Forum Supporter

Join Date: Mar 2010
Location: gettin naughty on the beach in cornwall
Boat: 63 custom alloy sloop,macwester26,prout snowgoose 37 elite catamaran!
Posts: 9,310
Images: 75
Re: What Will Happen to Boat Pricing when Euro Is Under Par to US$ ?

Quote:
Originally Posted by savoir View Post
Maybe you rushed through the stories on this. They are hitting everyone.

9.9% above 100,000 euro and 6.75% below.
latest is if you have under 100,000 you pay 3% and over 100,00 12.5% that rules out 95 % of the cypriots,and leaves the russians and others hiding money with the brunt of it! very smart these cypriots,i belive they did a similar thing with the lebanese quite a few years ago

cyprus has 118 billion in its banking system ,not bad for a country of a million people
__________________

__________________
my catamaran building project updates http://www.cruisersforum.com/forums/...36#post2502136
atoll is offline   Reply With Quote
Old 17-03-2013, 17:49   #242
Registered User

Join Date: Feb 2010
Location: Florida.... soon on a boat
Boat: looking build or buy a boat to escape from the rat race..
Posts: 36
Re: What Will Happen to Boat Pricing when Euro Is Under Par to US$ ?

Quote:
Originally Posted by savoir View Post
This coming week could get seriously ugly for the Euro. Cyprus is a popular holding place for hot money and so sees far more money pass through the system than the size of its economy might suggest.

A Tuesday run on the Cypriot banks is highly likely. You would also expect a lot of nervous people to transfer funds out of Spain and Italy into some non Euro currency.

I too see the writing on the wall and am slowing getting out of the dollar.
I too need to find my "junk-rigged retirement home" even if I have to build it.
__________________

__________________
Fernao is offline   Reply With Quote
Old 17-03-2013, 17:52   #243
Freelance Delivery Skipper..
 
boatman61's Avatar

Community Sponsor
Cruisers Forum Supporter

Join Date: Jan 2010
Location: UK/Portugal
Posts: 20,188
Images: 2
Send a message via Skype™ to boatman61
pirate Re: What Will Happen to Boat Pricing when Euro Is Under Par to US$ ?

Not so many EU folk buying cheap boats in the Caribbean/US.. more US folk buying cheap quality boats in the EU...
__________________


Born To Be Wild
boatman61 is offline   Reply With Quote
Old 17-03-2013, 17:55   #244
Nearly an old salt
 
goboatingnow's Avatar

Cruisers Forum Supporter

Join Date: Jun 2009
Posts: 13,649
Images: 3
Quote:
Originally Posted by savoir View Post
This coming week could get seriously ugly for the Euro. Cyprus is a popular holding place for hot money and so sees far more money pass through the system than the size of its economy might suggest.

A Tuesday run on the Cypriot banks is highly likely. You would also expect a lot of nervous people to transfer funds out of Spain and Italy into some non Euro currency.
Yawn, more " euro death stories " followed by more , buy my boat when the euro went to xxxxx, yawn , just how did that work for the OP.

Do you really think the wealthiest economic area on the planet will allow anything to happen to seriously threaten its currency. Have you asked yourself why the euro has remained very stable against be dollar and is well above parity.

Please this is just nothing about nothing.

Dave
__________________
Check out my new blog on smart boat technology, networking and gadgets for the connected sailor! - http://smartboats.tumblr.com
goboatingnow is offline   Reply With Quote
Old 17-03-2013, 17:57   #245
Nearly an old salt
 
goboatingnow's Avatar

Cruisers Forum Supporter

Join Date: Jun 2009
Posts: 13,649
Images: 3
Quote:
Originally Posted by boatman61 View Post
Not so many EU folk buying cheap boats in the Caribbean/US.. more US folk buying cheap quality boats in the EU...
Seen a lot of Southern Hemisphere buyers , very few yanks, remember the US is a tiny sailboat market and vat doesn't favour 2nd hand values for US buyers.

Dave
__________________
Check out my new blog on smart boat technology, networking and gadgets for the connected sailor! - http://smartboats.tumblr.com
goboatingnow is offline   Reply With Quote
Old 17-03-2013, 18:03   #246
Senior Cruiser
 
atoll's Avatar

Cruisers Forum Supporter

Join Date: Mar 2010
Location: gettin naughty on the beach in cornwall
Boat: 63 custom alloy sloop,macwester26,prout snowgoose 37 elite catamaran!
Posts: 9,310
Images: 75
Re: What Will Happen to Boat Pricing when Euro Is Under Par to US$ ?

Quote:
Originally Posted by goboatingnow View Post
Yawn, more " euro death stories " followed by more , buy my boat when the euro went to xxxxx, yawn , just how did that work for the OP.

Do you really think the wealthiest economic area on the planet will allow anything to happen to seriously threaten its currency. Have you asked yourself why the euro has remained very stable against be dollar and is well above parity.

Please this is just nothing about nothing.

Dave
+1 this is more about europe getting its hands on dirty russian money,and greek tax evaders.
,you average cypriot probably has less than 10,000 in savings
__________________
my catamaran building project updates http://www.cruisersforum.com/forums/...36#post2502136
atoll is offline   Reply With Quote
Old 17-03-2013, 18:19   #247
Nearly an old salt
 
goboatingnow's Avatar

Cruisers Forum Supporter

Join Date: Jun 2009
Posts: 13,649
Images: 3
Quote:
Originally Posted by atoll View Post

+1 this is more about europe getting its hands on dirty russian money,and greek tax evaders.
,you average cypriot probably has less than 10,000 in savings
Actually its more to do with the Germans extracting a pound of flesh , for their support. I hope they never have to be " rescued" !!!!.

Remember the Euro is a fiat currency just like the dollar , ultimately , whatever the Germans like to think, you can't default on a fiat currency, you can devalue it of course, but the Brits and the US are doing that quicker then the Euro, so values have remained relative.

Cyrus s getting a nasty smack on the backside, because at 7bn bailout its way more then the others per head of population. Certain alarmist pieces have rushed to assume that similar processes would be followed in other troubled EU countries. Anyone looking at the ECB response would see that its responses vary considerably with the size of the country and the scale of te issue.



Dave
__________________
Check out my new blog on smart boat technology, networking and gadgets for the connected sailor! - http://smartboats.tumblr.com
goboatingnow is offline   Reply With Quote
Old 17-03-2013, 18:40   #248
Senior Cruiser
 
atoll's Avatar

Cruisers Forum Supporter

Join Date: Mar 2010
Location: gettin naughty on the beach in cornwall
Boat: 63 custom alloy sloop,macwester26,prout snowgoose 37 elite catamaran!
Posts: 9,310
Images: 75
Re: What Will Happen to Boat Pricing when Euro Is Under Par to US$ ?

personally i think it is a great subterfuge to get the wealthiest who pay very little tax to part with 10% of their wealth!
taking away 6.7 % of glavkos's from the marina savings is only going to leave him 670 euros poorer,but my ex boss retired in cyprus stands to lose about 37 million!
__________________
my catamaran building project updates http://www.cruisersforum.com/forums/...36#post2502136
atoll is offline   Reply With Quote
Old 17-03-2013, 19:39   #249
Armchair Bucketeer
 
David_Old_Jersey's Avatar

Join Date: Oct 2006
Posts: 10,013
Images: 4
Re: What Will Happen to Boat Pricing when Euro Is Under Par to US$ ?

I hope GBN is right and this is a storm in a Teacup (although why the first 10k was not made tax penalty free I don't know - if I was a local politico I would figure that it would be the fella who has lost 500 euro who would be the more likely to hang a politico or 3 from a lamppost than some rich foreigner who had lost way more).

Certainly I agree that Cyprus is not economically important (and therefore no one gives a sh#t) but if I was a local in any Eurozone country but Germany I would have my cash in a German bank account, just in case!.......will be very interesting to see whether the Cyprus bank raid will lead to a run on banks elsewhere within the Eurozone next week (in a few hours!)........I am sure the Germans have considered that possibility - I just can't work out what their goal would be for risking (or acheiving!) that .........but could simply be: "another typical shabby Nazi trick" .
David_Old_Jersey is offline   Reply With Quote
Old 17-03-2013, 19:52   #250
Nearly an old salt
 
goboatingnow's Avatar

Cruisers Forum Supporter

Join Date: Jun 2009
Posts: 13,649
Images: 3
The other thing is that it actually hasn't been agreed it should be done , Tuesday is supposed to be decision day. What's to bet a good old EuroFuddle won't be arrived at.

Dave
__________________
Check out my new blog on smart boat technology, networking and gadgets for the connected sailor! - http://smartboats.tumblr.com
goboatingnow is offline   Reply With Quote
Old 18-03-2013, 08:25   #251
Registered User

Join Date: Apr 2010
Location: Newport News VA
Boat: Egg Harbor sedan cruiser 1970
Posts: 829
Re: What Will Happen to Boat Pricing when Euro Is Under Par to US$ ?

In Feb they said they would not do this.
People should not think it wont happen somewhere else.
Promises and treaties are made to be broken.
So promises regarding your money are worthless.

Cyprus rejects losses for depositors, Eurogroup skirts issue - Yahoo! Finance

Quote:
Cyprus rejects losses for depositors, Eurogroup skirts issue
Reuters Mon, Feb 11, 2013 2:22 PM EST

BRUSSELS (Reuters) - Cyprus's finance minister drew no clear support on Monday from his euro zone peers for his refusal to impose losses on bank depositors as part of the country's bailout programme.
Cyprus needs some 17 billion euros in a loan programme from the euro zone to recapitalise its banks, which were hit by the Greek sovereign debt restructuring, and finance government spending over the next three years.
Because such a bailout would almost equal the country's gross domestic product, euro zone officials are examining various ideas for how to make the island's debt sustainable.
__________________
sdowney717 is offline   Reply With Quote
Old 18-03-2013, 08:47   #252
Senior Cruiser
 
atoll's Avatar

Cruisers Forum Supporter

Join Date: Mar 2010
Location: gettin naughty on the beach in cornwall
Boat: 63 custom alloy sloop,macwester26,prout snowgoose 37 elite catamaran!
Posts: 9,310
Images: 75
Re: What Will Happen to Boat Pricing when Euro Is Under Par to US$ ?

more euro fuddle here!,seems to have got the ruskies hopping though as per my previous comments......................

They added they were looking to see a tax-free threshold for savings up to 100,000 euros ($129,000), but that under this plan deposits of more than 100,000 euros would be forced to take a bigger hit.

Russian Prime Minister Dmitry Medvedev too slammed the deal.

"We should say this directly: this simply looks like the confiscation of other people's money," Russian news agencies quoted Medvedev as saying. "I do not know who the author of this idea is, but this is what it looks like."

Several analysts said the measure was meant to make sure that Brussels did not spend billions propping up the at-times ill-gotten gains of rich Russians, who are widely reported to have exploited Cyprus's reputation as a tax haven.

Cyprus has repeatedly denied the allegations of being soft on "dirty money" and offered to open its accounts to international inspection.

Estimates vary but the Moody's rating firm estimates that up to $19 billion in private Russian cash is held in Cyprus. The figure accounts for between a third and half of all Cypriot deposits.

quote
Cyprus MPs delay bailout vote amid market turmoil - Yahoo! News UK
__________________
my catamaran building project updates http://www.cruisersforum.com/forums/...36#post2502136
atoll is offline   Reply With Quote
Old 18-03-2013, 10:09   #253
Armchair Bucketeer
 
David_Old_Jersey's Avatar

Join Date: Oct 2006
Posts: 10,013
Images: 4
Re: What Will Happen to Boat Pricing when Euro Is Under Par to US$ ?

Quote:
Originally Posted by atoll View Post
Cyprus has repeatedly denied the allegations of being soft on "dirty money" and offered to open its accounts to international inspection.

Estimates vary but the Moody's rating firm estimates that up to $19 billion in private Russian cash is held in Cyprus.
IIRC (which I may not!) Cyprus is more of a transit route for the Russkies - into Switzerland and beyond......I think it's because Russkies into Switzerland direct is diffilcult for them (including for tax reasons!), but Cyprus has good tax treaties with both Russia and Switzerland (and elsewhere).....therefore I suspect that a lot (most?) of the Russkie money (dodgy and not) might be recorded as being in Cyprus but is actually not there enough to be subject to the confiscation?

Of course problems for Cyprus could be good for other tax havens - especially those selling political and economic stability.........No names .
David_Old_Jersey is offline   Reply With Quote
Old 18-03-2013, 10:09   #254
Nearly an old salt
 
goboatingnow's Avatar

Cruisers Forum Supporter

Join Date: Jun 2009
Posts: 13,649
Images: 3
Re: What Will Happen to Boat Pricing when Euro Is Under Par to US$ ?

Id say it will get dumped as an idea, certainly for the 100K and below!

Dave
__________________
Check out my new blog on smart boat technology, networking and gadgets for the connected sailor! - http://smartboats.tumblr.com
goboatingnow is offline   Reply With Quote
Old 19-03-2013, 10:44   #255
Registered User
 
vegasandre's Avatar

Join Date: Oct 2008
Location: Moving to Coronado, Hurray!
Boat: Catalina 350 MK11
Posts: 80
Re: What Will Happen to Boat Pricing when Euro Is Under Par to US$ ?

Quote:
Originally Posted by goboatingnow View Post
Seen a lot of Southern Hemisphere buyers , very few yanks, remember the US is a tiny sailboat market and vat doesn't favour 2nd hand values for US buyers.

Dave
USA isnt a tiny sailboat market. US owners also dont have to pay a VAT if they follow specific protocol and dont intend to leave the boat in EUR waters- as far as I know.

Anyway -great discussion. we will see how this plays out. May take a few more years still ......
__________________

__________________
vegasandre is offline   Reply With Quote
Reply

Thread Tools
Display Modes Rate This Thread
Rate This Thread:

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are Off
Pingbacks are Off
Refbacks are Off


Similar Threads
Thread Thread Starter Forum Replies Last Post
Girl Overboard ! TigerLilly Health, Safety & Related Gear 82 24-02-2016 23:07
Are You Scared of Wood ? CharlieCobra General Sailing Forum 116 18-03-2013 17:45
Questions About Putting a Boat Into Charter . . . Rich_Maler Dollars & Cents 27 07-03-2012 20:29
Thinking of Buying a Sailing Catamaran ? Some Thoughts . . . papagena Multihull Sailboats 12 23-12-2011 11:21
Need Advice on Buying a Boat Capt. lulz Liveaboard's Forum 45 25-07-2011 13:17



Copyright 2002- Social Knowledge, LLC All Rights Reserved.

All times are GMT -7. The time now is 00:40.


Google+
Powered by vBulletin® Version 3.8.8 Beta 1
Copyright ©2000 - 2017, vBulletin Solutions, Inc.
Social Knowledge Networks
Powered by vBulletin® Version 3.8.8 Beta 1
Copyright ©2000 - 2017, vBulletin Solutions, Inc.

ShowCase vBulletin Plugins by Drive Thru Online, Inc.