Looking at Standard and Poor's Downgrading
Staying true to the positive theme we are trying to maintain on IheartCyprus I feel that we can look at the Standard and Poor's downgrading the of Cyprus's debt rating as a positive. I realize it is never a good thing to be graded lower but in this issue I for one can find a positive.
If you look at any grading system you see that grading is done as a tool to help the person or country being graded, to realize where there current standings are, see their strengths and weaknesses and move on from there. Usually this happens on a number of occcasions in order for tracking progress and decline.
Being a part of the Cyprus business class I understand that there are some issues that are troubling my particular profession that are being ignored and not taken seriously by anyone in the government. If these issues were taken care of then things can be much better not only for my profession but many other related fields and the whole country. So despite my lack of total understanding of Standards and Poor's system and how they evaluate and grade a country it seems to me they have to be right in downgrading Cyprus.
My optimistic side hopes that the people in Cyprus responsible for fixing these problems do so. To look within for answers instead of blaming others of conspiring against Cyprus. There is always room for improvement. Lets take this attitude and tighten our belts and get to work. We can do this and if we can't do it now we can try again in the next elections (without a revolution).
Unfortunatley I don't think they are. They are laying the blame on outside source who are plotting against them. President Demetris Christofias said that the goverment holds no reponsibility for the down grade. We just want to say please listen Mr. President and lets take some action now while we still have an "A-" since there is a chance for more slippage which they have stated
If you look at any grading system you see that grading is done as a tool to help the person or country being graded, to realize where there current standings are, see their strengths and weaknesses and move on from there. Usually this happens on a number of occcasions in order for tracking progress and decline.
Being a part of the Cyprus business class I understand that there are some issues that are troubling my particular profession that are being ignored and not taken seriously by anyone in the government. If these issues were taken care of then things can be much better not only for my profession but many other related fields and the whole country. So despite my lack of total understanding of Standards and Poor's system and how they evaluate and grade a country it seems to me they have to be right in downgrading Cyprus.
My optimistic side hopes that the people in Cyprus responsible for fixing these problems do so. To look within for answers instead of blaming others of conspiring against Cyprus. There is always room for improvement. Lets take this attitude and tighten our belts and get to work. We can do this and if we can't do it now we can try again in the next elections (without a revolution).
Unfortunatley I don't think they are. They are laying the blame on outside source who are plotting against them. President Demetris Christofias said that the goverment holds no reponsibility for the down grade. We just want to say please listen Mr. President and lets take some action now while we still have an "A-" since there is a chance for more slippage which they have stated
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