Europe's 10 cheapest cities to visit

As we live in a age of austerity with the continental countries of Europe facing unprecedented EU challenges, such as escalating inflation rates, higher VAT and with the general impact of the credit crunch and import costs, future tourists are starting to look carefully which destination offers the best value for summer 2013 or a winter break.

Here below is the updated list of Europe's 10 cheapest major cities to visit.

The greatest surprise on the list is London, which due to the fact it is outside the EU prices are relatively falling enabling it to reach Europe's bargain hotspot top 10 for the first time in 5 years. This is good news for Olympic Games visitors, however we must balance this information with the recent increase in exchange between the euro and the Pound Sterling, making it more expensive to buy GB Pounds now than in the last 5 years or so.

It's interesting to see that London is sixth on the list and the Norwegian capital Oslo last. 

10 Cheapest European Cities:

1. Warsaw, Poland.
2. Prague, Czech Republic.
3. Budapest, Hungary.
4. Vilnius, Lithuania.
5. Brussels, Belgium.
6. London, England.
7. Berlin, Germany.
8. Lisbon, Portugal.
9. Dublin, Ireland.
10. Madrid, Spain.

By: Progress On 02:31

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The hypocritical reality of the EU and Western Governments on Tax enforcement

No doubt most citizens of Europe have noticed a trend of late, whereby Governments in league with the European Union and other Western countries are focusing the Media attention and propaganda efforts on Tax Evasion and Tax Avoidance. The goal here seems to be on focusing a complicit mainstream media on stirring up hatred (thereby dividing an conquering) towards productive individuals and companies from legally or illegally avoiding taxes. This of course is a distraction to stimulate emotions on the topic and channel the sentiment towards paying Taxes. 

Of course at no point during such media exposure centered on Tax evasion does the mainstream media indicate within the same article of sentence the utter abuse of Taxpayers money that is occurring within the EU and across many countries in the western world. To name just a few, Illegal or immoral wars, bank bail-outs, corruption in Politics, scandalous expenses of Politicians, black operations and general abuse of public money come to mind.

For the Citizens of Europe, one of the most astonishing revelations is that concerning officials who work for the European Commission and the European Parliament, even the highest category of unelected people that earn a NET take-home pay of around 120,000 euro per year pay a maximum Tax of just 12%.

Now considering the Troika forced aggressive Tax increases and austerity measures on the poor people living in the Mediterranean Bail-Out countries, this information is effectively Tax Fraud on a pan-European scale. How can this be possibly fair?

How can the unelected people working for the EU Commissions and Parliament in Brussels that enforce high Taxes on everyone else explain this to the 16 million unemployed people within the Euro-zone? What possible reason is given for such huge Tax breaks and Pension benefits on a scale not seen anywhere else in the world, while the rest of the average citizens pay more h=than their fair share?

By: Progress On 02:20

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The clock is ticking to get your money out of the Euro-zone

The dust is slowing settling on the dramatic events that led to the Cyprus economic crisis earlier this year in spring. Subsequently, we consider it a poignant moment to remind the all PT's that the clock is ticking to get your money and assets out of the EU.

What happened in Cyprus?

In essence, 2 formally arrogant Cypriot banks in collusion with the Cyprus Government committed what is best described as a bank robbery in broad daylight earlier this year. Moreover, the EU feels that its got away with it! Many Cypriots and foreigners alike trusted the banks and the Cyprus Government with their hard earned money as it was an EU country and in many cases it amounted to peoples entire life savings.

Yet few of the powers that be on the island of Cyprus or across the continent did anything significant to protect the rights of people. Cypriot politicians simply made agreements with the Troika and IMF regardless and in some cases, a few families in the know transferred millions before the banks were closed. The President who signed for the original shameful haircut blamed the Finance Minister and still holds power.

In balance, the Government of Cyprus was basically given 2 options by the IMF and the EU

1. Confiscate money from private bank accounts in breach of the European Court of Human Rights.
2. Leave the eurozone and face political instability.

Seemingly, the so called proposal was presented as a "take it or leave it" proposition, and many objective observers are using the word "blackmail" to describe what happened.

Only Nigel Farage (captioned in the video above) had the courage and common sense to speak for the people of the EU on the right platform.

The Cyprus Beta Test
Unfortunately, the Cyprus case has set an ominous precedent for the future in the EU and it will likely generate ripple effects far beyond the small Island nation of Cyprus.

The EU appear eager to gauge if the rest of the world will let them get away with it. Cyprus was most likely selected as a "Crash Test Nation" because it's very small (least potential for a strong reaction) and because there is a lot of foreign (such as Russian) money is deposited there. The IMF and the Troika could have very easily bailed out Cyprus without issue, but they coldly calculated not to do that. Instead, the goal was to test the notion of a "Wealth Tax".

Now that the precedent has been set with money taken from bank accounts in Cyprus, plans are afoot to start doing it everywhere. The EU are reasonably pleased with the success of this modern day "Bank Robbery", hence it's only be a matter of time before depositors in other EU nations such as Greece, Italy, Spain and Portugal will be expected to loser their fortunes.

Cyprus is a very small nation, so the volume of money involved is not too significant. However, the reason why this whole affair is all so concerning is that the "Wealth Tax" experiment part 2 will likely shatter confidence in the European banking system overall.

So as eloquently as Nigel Farage articulates what will happen to the EU, we remind all PT's across the EU to take action now before it's too late. Get out of the Euro now!

By: Progress On 16:23

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Europe Slammed by its own Latest Poll!

Paradoxically, EU people and non-EU people seem to have one thing in common; lack of trust in the European Union.

Traditionally, Britain was always the most consistently Euro-skeptic country within the EU. Since the recent raft of Bail-Outs, that has now changed.

According to the most recent survey conducted in the UK, a shocking 68% of UK citizens don't trust the EU, however that number is even greater in Cyprus, Spain, Greece, Portugal and even more.

Just to get an idea, a worrying 83% of Cypriot citizens say they do not trust the EU decisions. It's not surprising that the vicious Troika cocktail of austerity, doom and gloom which has been forced on the unsuspecting people of the EU bail-out countries is deeply unpopular.

Interestingly, the Poll of 32,000 people across a section of people within the Euro-zone was paid for by Brussels. 

The unpleasant and revealing results for the unpopular European Commission were semi concealed, as they were not featured in any Press Release. Instead, they were camouflaged within a boring 200 page report giving the full details. Such reports are rarely read by the Public.

Despite the distasteful effects of the Bail-Outs leading to war-time like conditions in countries like Greece, large food banks for the poor, increased crime, shocking unemployment levels (especially for the young), street riots and the fear of anxiety for the population at large, the social tank of the EU carries on regardless. 

All of this while the EU commissioners seemingly show NO empathy or compassion for the destruction caused by the Euro and the exchange mechanism to southern European communities.

By: Progress On 16:26

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The True Story of The Tulip - Holland

The next few lines will sound like a fairy tale to you, but actually this is the true story of the tulip.

Many years before, there was a flower unable to settle down anywhere. From the mountains in Kazakhstan, people tried to plant it in Persia, China and Turkey with no success when a Dutch scientist took the flower bulb with him to a small European country.

In this small country, the climate and soil facilitated its growing, and the inhabitants went crazy for it immediately. Soon it became the national symbol of the country.

Thanks to this scientist, we can enjoy the following pictures!

By: Progress On 00:19

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Mountains in Europe: These are the Best!

According to http://travel.nationalgeographic.com, Europe's most wonderful mountains are the ones below!

We couldn't agree more!

1. Bicaz Gorges, Romania

2. Matterhorn Glacier, Switzerland

3. Riisitunturi National Park, Finland

4. Big Bear Peak, Montenegro

5. Arctic Fox, Iceland

6. Alpine Ibex, Italy

7. Mountains, Iceland

8. Roussanou Monastery, Greece

9. Caucasus, Russia                     

10. Forest, Montenegro

By: Progress On 00:03

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Cyprus Financial Crisis: How, When & Why

The Cypriot financial crisis was generated by the exposure of Cypriot banks to the Greek debt haircut, the downgrading of the Cypriot economy to junk status by international rating agencies and the inability of the government to refund its state expenses.

In September 2011, just 2 months after the Evangelos Florakis Naval Base explosion, the credit rating of Cyprus was downgraded by all major credit rating agencies. Despite Cyprus's population and small economy, the island has a large off-shore banking industry that was shaken to its foundations during the financial turmoil. With a total amount of €19.5 billion, the country was unable to stabilize its banks.

A report published a year ago by a team of 16 Cypriot economists attributes the causes of the crisis to sliding competitiveness and increasing public and private debt that were exacerbated by the banking crisis.

Since January 2012, Cyprus has been relying on a €2.5 billion emergency loan from Russia to cover its budget deficit and re-finance maturing debt. The loan has an interest rate of 4.5% and it is valid for 4.5 years. It was originally expected that Cyprus would be able to fund itself again by the first quarter of 2013. When Fitch downgraded bonds issued by Cyprus to BB+ last June, the Cypriot government requested a bailout from the European Financial Stability Facility or the European Stability Mechanism

The Cypriot government expressed disagreement over the bailout terms, and continued negotiation with Troika representatives concerning possible alterations to the terms throughout the following months.

On November, the government handed its counter-proposals to the Troika on the terms of the bailout. The bailout terms were made public on 30 November.They include strong austerity measures, including cuts in civil service salaries, social benefits, allowances and pensions and increases in VAT.

On 16 March 2013, the EU and International Monetary Fund agreed a €10 billion deal with Cyprus. As part of the deal, a one-off bank deposit levy of 6.7% for deposits up to €100,000 and 9.9% for higher deposits, was announced on all domestic bank accounts. Savers were due to be compensated with shares in their banks. Measures were put in place to prevent withdrawal or transfer of moneys representing the prescribed levy.

The deal required the approval of the Cypriot parliament, which was due to debate it on 18 March. According to President Nicos Anastasiades, failure to ratify the measures would lead to a "disorderly bankruptcy" of the country.

The Russian government "blasted Cyprus's bank levy, piling more pressure on Nicosia" ahead of the parliament's vote on the bailout. Russia has decided to extend its existing loan to Cyprus but hasn't shown interest in doing more as reports say that Russia felt betrayed due to Mr. Anastasiades friendly moves towards Europe.

The deal was rejected by the Cypriot parliament on 19 March 2013 with 36 votes against, 19 abstentions and one not present for the vote.

Cyprus is now the center of attention for all European States and even for more.
It's strange how an island that small can influence all west countries that much, isn't it?

By: Progress On 23:18

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Danger Ahead: Beware of Investing in the Eurozone!

The story of recent unfolding events linked to the Cyprus economic crisis and eventual so called “Bail-In” deal, will now likely play out across Europe and beyond as EU citizens and foreign investors holding deposits within the EU start to contemplate this question “Could it happen to me?”.

In an unprecedented step the Troika (name given to the collection of EU & International money lenders) forced the recently elected Cypriot Government to accept what basically amounts to daylight robbery of depositors accounts within the 2 main Banks of Cyprus (Marfin Popular Laiki Bank and Bank of Cyprus). Everyone with more than 100,000 euro deposited within these 2 Banks will surely lose out in a significant way.

Question is, what will the people of other economically struggling member nations think now? Greece, Spain, Ireland and Portugal already received Bail-Outs and more are possible down the line. Behind EU closed doors it is thought that the Cypriot so called “Bail-In” is a kind of pilot template to use for the next country in trouble, which is likely to be Italy.

It is however a recipe for an economic disaster and subsequently no-one will invest in Cyprus again for many decades and with rising taxes many companies will relocate or simply close.

If the people of the EU are not over taxed enough already, it now seems that the enduring unelected EU bureaucracy is desperately attempting to save the euro, by confiscating the life savings of ordinary people to pay for it.

There are however some Political voices telling the true story of how it really is. The leader “Nigel Farage” of the party in the UK called “UKIP” with a dramatically rising popularity has an interesting take on the matter. Check out the Video on top.

By: Progress On 13:04

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Swiss Government continue to take measures to maintain a weak Franc

The Swiss National Bank (SNB) has retained a strong stance in terms of its national currency the Franc. The Franc has performed particularly well when pitched against the Euro in recent times, so the SNB has taken measures on a number of occasions to maintain the currency as weak as possible, to stimulate the country’s exports.

The Bank has mainly been focusing on the exchange rate with the Euro, as this region is the one where most Swiss export transactions take place. The price floor in the EUR/CHF currency pair at the present time is seen to be at around the 1.20 mark. Prices have been around this region (with very low volatility levels) for a long time this year.

However, people involved in the market of selling positions have impacted on this price floor, as the Swiss Franc, brief though it was, rose above the 1.20 when up against the Euro. It briefly brought the credibility of the central bank into question and raised the idea that we could see other price floor breaches in the future.

But how can traders foresee and predict future price activity in the EUR/CHF currency pair? A key area to keep your eye open for the direct commentary from the SNB leadership, this could provide some clues on the future policy strategies that could well be enabled.

Perpetual Travellers and peple that wish to hedge or diversify, traditionally hold Swiss Francs as a safe haven currency, especially during difficult economic times. However, the above news may be something to consider or think twice about this strategy. Swiss Francs are certainly stable and cannot be considered risky, but in the light of this news the currency may not hold a strong value like it did in the past, due to the actions of the SNB. Still, many believe that Swiss FRancs are better than euros and safer in the long run than GPB Sterling and U Dollars.

By: Progress On 01:35

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2011: A vintage year for the European consumer



Ensuring consumers benefit fully from the EU's Internal Market is the work of Parliament's Internal Market and Consumer Protection committee or "IMCO" and it's off to a flying start to 2011, with the Consumer Protection Directive on its agenda this month. More will follow, from strengthening e-commerce and modernising package holiday rules to facilitating the introduction of innovative fibres in clothing and new, safer, materials in buildings. Watch this space, 2011 holds a lot of promise.

One Directive to unite them
The proposed Consumer Protection directive has one goal above all: to ensure maximum, although by no means total, harmonisation of consumer protection provisions throughout the European Union. As a legal instrument it will replace four existing directives, covering all forms of consumer rights, including protection from unfair terms imposed on consumers and the right to simply change their mind and walk away from a purchase they made over the internet or by phone, just as if they had bought something at a shop.

Alternative Dispute Resolution
At some point everyone must have felt the urge to take a shopkeeper or supplier to Court, only the Court can be complicated and very expensive. Enter the "Alternative Dispute Resolution", which can offer "cheap, simple and quick redress" for consumers if applied widely enough. So far however, that is simply not the case, which is why Parliament is now examining possible ways forward. In the same vein, the committee will look into ways of improving the functioning of the retail market and product safety, where there are fears that not enough is being done in all member states.

Safer and (maybe) cheaper buildings
The directive on construction materials is again on the committee's agenda this month, the aim being to open the internal market to all materials used in construction thus improving competition and reducing prices. Equally though, new safety mechanisms will be put in place to better ensure that all materials used are safe for human health.
Hi-tech clothes
Labelling rules set to be approved by the committee should make the introduction of innovative materials in clothing much easier for the manufacturers without undermining safety. Also, ever heard of clothes that recharge mobile phones? They may be moving a few steps closer to reality.

and much more….

MEPs will also look into the actual functioning of important European legislation in the member states. Reports are thus being prepared on the state of play in the implementation of the Services Directive, which promises to greatly enhance competition in the crucial services sector but has run into difficulties in several member states, and the recognition of professional qualifications, the other vital piece of EU legislation that is encountering significant obstacles.

With the chair of the Committee Malcolm Harbour (ECR) hoping the New Year will bring "a strong programme on the Single Market Act" helping consumers feel more confident and more protected, especially on-line. Consumer protection and the good functioning of the internal market remain among the most important elements of EU policy and Parliament's role in ensuring that everything that can be done, is done, is vital. 2011 may well prove to be a landmark year on both fronts.

By: Progress On 19:17

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