Quote:
Originally Posted by Antonio
If the EU was so badly concerned about its last tax haven (Cyprus) and their quite lax banking, they could have easily applied enough pressure to make the necessary legal changes.
This is where this is heading - "haircut" on the big deposits, which means very unhappy Russians and all its short and long term implications PLUS some (hopefully not too many) jumpy investors who would think twice before depositing large amounts of money in any EU bank.
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The EU pissing off the Russians is NOT a good idea, I could see some european countries freezing in the not to distant future
Quote:
Originally Posted by Antonio
Geeezes. The EU doesn't have to do shit - the Cyprus issue was pure stupidity + spite + upcoming elections in Germany. The bailout was tiny (20 billion) compared to the Greek one (400 billion), yet instead of making it a routine operation, the issue was messed up big time.
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I'd be concerned that the EU is using Cyprus as a test case for these type of conditions for future bailouts, I'd be particularly concerned if I had money in Greece, Italy, Spain, Portugal, Ireland.