Monday, March 25, 2013

Saved Cyprus. Russian heavy losses for depositors.

Saved Cyprus.
Russian heavy losses for depositors.

 Eurozone finance ministers have allocated 10 billion bailout of Cyprus in return for a significant restructuring of the two largest banking groups in the island.
Germany backed the request Cyprus to cut deposit and also to collect the amount. Berlin did not take other sources of funds for the collection.
Cyprus has been denied by the idea of ​​being nationalized private pension funds under pressure in Germany.
People's Bank of Cyprus will be eliminated immediately, with the full participation of the shareholders, bondholders and unsecured deposits "and contribute to the financial support of 4.2 billion, said the chairman of the Eurogroup Diselblum Jeroen, who is also Finance Minister of the Netherlands ,
The facts are bailout 10 billion, close to the second largest bank in Cyprus heavy losses on uninsured depositors, including wealthy Russians.
Rescue Cyprus from financial collapse, closing the People's Bank of Cyprus and moving deposits under € 100,000 in "Bank of Cypress" for a "good bank".
Deposits over € 100,000, which is not guaranteed to be frozen and used to solve the debt.
End of an offshore Cyprus.
We how Russia would respond.
Expected Russian crackdown on European business, writes the newspaper "The Guardian".
Moscow will likely punish largest German companies in Russia, or by freezing tax assets.
We do not know how strong northern gas bars in Moscow.
So far it seems to Berlin does not care particularly counter-measures.

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