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Cyprus Property Blog by Cleo

Buying Property in Cyprus is a great investment choice and we discuss various aspects.

S&P Downgrades Cyprus - Who cares!?


For the first time in U.S. history its credit rating has been downgraded by Standard and Poors.  Cyprus has been downgraded twice in the last few months. Is this something we need to be concerned about?  It depends. The main thing to remember is that S & P is not the know it all of anything to do with the economy.  It is a fact that they gave AAA grading to many companies that have folded during the recent financial crisis.  So basically they evaluate and give opinions about companies and countries with a score on what they think their particular credit worthiness is compared to other of the same category. It is humans making judgements and in my opinion means that mistakes are possible.  The U.S is already claiming that the S& P made mistakes in their evaluation by not taking into account a 2 trillion dollar figure.  

The bottom line is S&P is an entity that makes mistakes and have made more than their fair share recently. They have no say with what countries can or can't do, they just give an opinion. We should not worry so much about what they say and instead listen and know that to be downgraded means that we need to look into what we must do to help ourself and fix what others see as dysfunctional.  The S&P don’t create jobs and they don’t sell houses and most likely they have never visited Cyprus but they see that something needs to be done. 

Cyprus Property & Information

Published Saturday, August 06, 2011 6:37 AM by Cleo Shahateet

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Cyprus Property is Hot! Now more than ever. There are over 20 million northern Europeans (European baby boomers) that have retired in the last few years which is a great number and many will be British. Many have been waiting for the financial crisis to past before they make the move to Cyprus. With warm weather, low crime rate, low cost of living in Cyprus and English speaking population, do you think Cyprus will have enough properties for every one?

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