Possible consequences of EU bailout for Cyprus?
I'm new to the board and hope to learn more about Cyprus as a possible retirement place. My husband and I purchased a retirement home in Portugal, just before the bailout and since then the country has gone to he**.
Vat has increased to 23% on electricity, gas, restaurants, and many foods. Property prices have crashed. Income taxes increased. In short, the country is no longer a desirable place to live. If anyone disagrees, I have a place for you!
Looking at the other bailout recipients- also referred to as PIGGS- Portugal, Ireland, Italy, Greece, Spain- it doesn't look like they are doing well either.
Does anyone in Cyprus have concerns about potential negative consequences about receiving a bailout? Is this talked about in the newspapers?
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