Originally Posted by BlackCrayon

What does having money in a cyprus bank have to do with anything with being on an international level? Last time I checked you can use a bank account in any country to send money to any other country. if I am missing something, please fill me in. Why can't these people from unstable countries use a bank in germany or the UK?

Everyone knows why people set up accounts in cyprus. Yeah. Im sure all the adult companies set up there just want to have money in some international bank? What makes cyrpus an 'international' bank more so than any other bank? I don't agree with what they did at all but for example if someone had 100k in an american bank and 100k in a cyprus bank fpr five years, after the 10% they still would be better off in cyprus just because of the high interest rate.

i don't see it happening anywhere else because spain and italy, etc don't have the same banking laws that cyprus does. who is putting their money in spain and italy to avoid taxes? you say there are many reasons for using cyprus, i just don't see if. can you point me to a list of legitimate reasons perhaps?