Moscow: No Bail Out for Russian Savers in Cyprus
The Russian government announced it will not compensate Russian savers who have lost money in the Cyprus banking crisis.
Russians are believed to have billions of euros in Cypriot accounts and following the painful haircuts in the two biggest banks deposits above EUR 100,000 could shrink by as much as 60%.
"Such losses would be a great shame, but the Russian government won't take any action in that situation," First Deputy PM Igor Shuvalov said,
Speaking on the Russian state TV channel Rossiya 1, Mr Shuvalov said Russian money in Cyprus included some that had been taxed and some that had not.
He said the Russian government would still look at cases where there were "serious losses, involving companies in which the Russian state is a shareholder".
That review would take place in Russia, and "for this it would certainly not be necessary to help the Republic of Cyprus", he said.
Bank of Cyprus depositors with more than EUR 100 000 could lose up to 60% of their savings as part of an EU-IMF bailout restructuring move.
Large depositors in the Bank of Cyprus will get back 37.5% of their money in shares instead of cash, but they may be worth nothing, analysts have warned.
Up to 22.5% will go into a fund attracting no interest and may be subject to further write-offs.
The other 40% will attract interest - but this will not be paid unless the bank performs well.
The move is the part of the painful Cyprus rescue package, but analysts say the shares offered are "near worthless".
Cypriot officials have also said that big depositors at Laiki - the country's second largest bank - could face an even tougher "haircut". However, no details have been released.
The plan is for Laiki to be eventually absorbed into the Bank of Cyprus.
Cyprus needs to raise EUR 5.8 B to qualify for the bailout, and has become the first Eurozone member country to bring in capital controls to prevent mass torrents of money leaving the island and credit institutions collapsing.
The original EUR 10 B bailout deal was agreed in Brussels earlier this month. It placed a one-off tax on all customers of Cypriot banks, starting at 6.75% for the smallest deposits.
The move led to mass protests across Cyprus, and the deal was later voted down by the country's Parliament. MPs later backed a revised deal.
On Thursday, banks in Cyprus opened for the first time in nearly two weeks. Long lines were reported as people tried to access their money, but the mood was generally calm and by Friday the banks returned to normal.
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"There is nothing in your post, either, that justifies your positions of hate for “the modern "True Democracies" Leaders which bring sufferings and death to peoples “ ".----------Formidable!!!
Everything is clear, DP. Almost million of deaths as a result of USA&Co
"democratic" interference is nothing. Bravo.
My answer to your post, sa-sha, lays in your own words: in the contradictions in your statements based on convenient selective application of morality as in the phrase “I hate killings”, which you further emphasised in the following: “Russians-including me- remember everything on the WHOLE, not selectively as You do, DP.
Are you saying, sa-sha, that “everything on the WHOLE” gives more weight to your moral argumentation against main--“selective” one? As expected from a Russian, you gave us a much more thorough account of the evils perpetrated by the communists to your people than I could ever muster. You did that excellently and proved my point, because, there is no redemption to be found in the balance of “everything on the WHOLE” against “the selectively” one when speaking on the act of “killing”.
There is nothing in your post, either, that justifies your positions of hate for “the modern "True Democracies" Leaders which bring sufferings and death to peoples “, but there is a lot of double standard and fuzzy moral indignation in condoning killing on one hand and raving against “dirty ‘methods’ on the other one...
As far as my “shameful rubbish” goes, I have no problem with the “shameful" me. I can live with that. It is not a sin...
Paranoia? Let it be. All for You, DP ;-)......
Well, "anti-commies": You replied to Ivanko' "They have one thing in common, they all are 'anti-commie' ", right? Imho Ivanko had in mind all this modern "anti-commie" scum which is exactly-or at least mainly- anti-Russian.
"Are you so brainwashed"---interesting idea ;-) But...All for You, DP.
"What the communists DID to your country? How about the Russian victims of Stalin and the notorious gulags?"---sorry, DP, but think I know A BIT more than You about it, about Russian life, about Russian history, about destiny of those(including my parents' relatives) who had gone through/died in Gulag, about all evil and, btw, good... Russians-including me- remember everything on the WHOLE, not selectively as You do, DP.
"And what did the Americans do to deserve your hatred?"---are You serious, DP? Hundreds of thousands, if not millions, of innocent victimes of USA&Co "democratic" interference is nothing? "Don't know what damaged your brain", DP, really.
Leaving aside Your shameful, sorry, rubbish ("...what damaged your brain,...you certainly have allowed an insane nationalism to blind you and betray your ancestors who escaped after the revolution in 1917..."[though "a vodka induced stupor" is not bad]),
I allow myself to remark: I love Russia, I never betrayed neither my ancestors nor my parents, but I hate killings, I hate dirty "methods" of the modern "True Democracies" Leaders which bring sufferings and death to peoples. Simple.
Hi, Viking. Killing of the innocent people-by Nazis, by Stalin [or by any others, I would add] is a crime, and I agreed with it while replying to DP' "Commies did a lot of bad things, similar to what the nazis did".
As for the difference, it's obvious: GOALS. Stalin was establishing his dominance over his country and applied his "methods" in his country, while Hitler with his "methods" was near to establish the dominance over the whole Europe (and was stopped just by Stalin, btw), and that Hitler' style striving to the world domination is the modern USA policy'
backbone....with the similar "methods". You find them acceptable?
You (Western democracies' people) are tolerant towards the crimes of
Your leaders in Afghan, Irak, Libya...Why? Killings of innocents is a crime always. And "The victims are all dead", right You are. So, why
You, Westerners, are so calm? Goals, Viking.
Sorry for my friend. And, btw, he's the ex-"commie", you guessed right...;-)
sa-sha..........your comrades aren't as smart as they think they are. They got caught with their pants down. Don't blame the EU and the rest of the world for Russia's problems and unpopularity.
And aren't you a bit paranoia? Anti-commie DOES NOT mean anti-Russian in my book. This must have become clear to you ever since you joined the forum.
Are you so brainwashed, or too young to know what the communists DID to your country? How about the Russian victims of Stalin and the notorious gulags?And what did the Americans do to deserve your hatred?
Don't know what damaged your brain, but you certainly have allowed an insane nationalism to blind you and betray your ancestors who escaped after the revolution in 1917? Or was that a fantasy you just happened to dream up and proclaimed in the forum in a vodka induced stupor?
As you can see I can be as preachy as you are.
End of sermon!
" those "commies" (if You mean Stalin' regime) did it against its own people first of all, while the Nazis did it against peoples of many other states.
Can you tell me the difference? The victims are all dead and it is not more pleasant to be snuffed by your "own people
By the way the name you gave me (for travel to Russia) was a complete failure. I contacted them twice and they did not even bother to reply.
Must be "commies" ! lol
Sorry, DP, but aren't You biased a bit? "Commies", "Regime",
"democrats", "True Democracy" etc, all this scum is widely used by the modern mass media for achieving the absolutely certain goals: to orient the public opinion (in Western countries first of all) in the due direction. Look: "You say "anti-commies" like it is a bad thing...", You wrote. Yes, DP, it is a very bad thing, since today "anti-commies" de facto means "anti-Russians", i.e. the leaders of USA first of all. What do they bring today to the World, DP? Blood, sufferings, chaos, despair, death. Yougoslavia, Afghan, Irak,Libya, Syria now, Iran tomorrow...Hundreds of thousands of death, what for? For the global triumph of the "true democracy"?......
"Commies did a lot of bad things, similar to what the nazis did"--- yes, but You leave aside-just like Western media-the principal difference: those "commies" (if You mean Stalin' regime) did it against its own people first of all, while the Nazis did it against peoples of many other states, as USA&Co do it right now, do just those "bad things, similar to what the nazis did", simply a fact......
So, the new perfume "Anti-commies" with two fresh aroma-"True Democracy" and "Nazis"- on the market. Detonating mixture, I think. And may be "this is a thought worth pondering"...........
So, you have no problem with anti-commies per se, but you think that they are beyond idiots (paraphrasing your words) and shouldn't be taken seriously for arguing a point based on their convictions?
Hm, this is a thought worth pondering....No wonder people like you are taken very seriously (just a notch below genius...;-).