This could get interesting.
According to Reuters 50% of bank deposits (approx. 18.3 billion Euros) in Cyprus belong to non resident Russians. I am reminded of an episode of The Sopranos with Paulie Walnuts saying: “I told you, Janice, ‘Don’t fuck with the Russians!'”
On the other hand rt.com reports: “Russia’s Finance Ministry is reportedly about to take advantage of Cyprus’ grave financial situation and, in return for a $23-billion bailout loan, get the names of Russians holding bank accounts in Cyprus, which is an infamous European tax haven.” Something just doesn’t smell right here…
For an analysis see Satyajit Das’s article below:
EconoMonitor : EconoMonitor » The Cyprus File
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