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by petre
2109 days ago
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Banks in Cyprus got recapitalized with some amount of Russian money during the 2011-2013 Eurozone crisis, or at least that's the commonly known narrative. It was basically a convenience crackdown on a fiscal paradise within the EU. If you read the last line of the article you have linked it says: European leaders wanted to limit the size of the rescue loans — which are backed by European taxpayers — to €10 billion. Leaders were also reluctant to bail out Russian depositors whose funds may be the result of tax evasion, crime or money laundering. Additionally, there are sanctions in place since the 2014 Crimean crisis. https://www.themoscowtimes.com/2019/01/10/cyprus-no-longer-m... |
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