Sunday, April 21, 2013

Russian PM says "stealing continues" in Cyprus

The European Union bailout of Cyprus made the Russian government angry because this will result in a heavy loss for foreign depositors, which includes many Russians.  This will also result in a loss of uninsured bank deposits in Cyprus over 100,000 euros, which is about $130,000.  However, this sends a good message for those who are thinking about moving their capital to Russian banks.  Russians are thought to have most of the 19 billion euros of non-EU, non-bank money in Cypriot banks.  
 

2 comments:

Anonymous said...
This comment has been removed by the author.
Anonymous said...

I wish the Russian officials, specifically Putin, would reveal their assets - similarly to the French cabinet ministers who now have to disclose their financial wealth. I wonder if any of the Russian officials have any money hiding in Cyprus banks.