YN
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quote:
ORIGINAL: vincentML
quote:
Certainly you can provide some Russian names; and a summary of the things these Russians did demonstrating this control of Cyprus and Cypriot banks; and their known activities to disrupt and destroy the Cypriot financial system.
Some of that was provided in the article I linked.
I must say I am quite surprised by your vigorous defense of Russians who may have been engaged in criminal activity. Of course, these are only allegations at this time and maybe the truth will never be known but I am not willing to swear that criminal behavior is absent from banking activities. Perhaps you are, YN.
The Russians certainly can and do commit various financial crimes, without doubt.
However in this case, the fault was that of the Cypriot banks and regulations/regulators, and their purchase of Greek bonds, which took a 75% "haircut."
And your evidence and others only show that a Russian owns 10% of one bank, and that certain Russians are alleged to (and certainly do) launder money through Cyprus, and others keep their money in Cypriot banks.
Cyprus is claimed to be the third largest source of foreign investment in Russia, does this prove the Cypriots control the Russian banking system?
While it might be convenient for spin doctors and corporate opinion mongers in the Anglo media to blame Russians, the Russians who used Cyprus banks in this case are the ones paying for the EU's failings in Greece and the resulting failings in Cyprus.
Notice you don't see anything in the news reports where any sort of EU or Cypriot governmental official, Interpol, etc. is claiming Russia or Russians actually had anything to do with the crash.
However the effect, which has already began, is that Russians will now ull their billions out of Cyprus, in fact it is alreay in the news that they are looking for, and certain countries are offering to move the Russian bank trade to their lands.
Russians prepare to quit Cyprus
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“The Cypriots killed their country in one day,” says Mr Mikhin, referring to Friday March 15, when President Nicos Anastasides accepted the EU’s proposal to seize €5.8bn in emergency funds from Cyprus’s local and foreign depositors.
What concerns Mr Mikhin, the owner of an international shipping business, is not the levy itself. It will not touch his foreign bank accounts. But he is worried about the destruction of trust in Cyprus’s financial system, a move he says has spooked Russians and Russian business.
“The locals should understand: as soon as the money leaves, the people who go to restaurants, buy cars and buy property leave too. The Cypriots’ means of living will disappear,” he says.
“They are saying we laundered all the money, but they lived on that money for 10 years and forgot about it.”
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Worse, he argues, is the hypocrisy with which the EU is treating Cyprus. Most of his clients also do business with Europe’s most prestigious law firms, and are likely to move their business to these same European countries if Cyprus’s financial system collapses.
“Success breeds envy and jealousy. That is what we are facing,” he says angrily. “Out of the big cake of eastern European, Russian business, Cyprus receives 0.5 per cent, 0.6 per cent. And now Europe wants to deprive us of that as well.”
Says another Nicosia-based lawyer: “I don’t understand why it is money laundering when it’s in Cyprus, when in London it’s a perfectly respectable company.”
They may have killed the goose that laid their golden eggs.
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RE: New Zealand is thinking of going all Cyprus - .gif){kind=avatar}
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