March 17, 2013 16:09
Levy on bank deposits would undermine trust in Cyprus - Russian lawmaker
MOSCOW. March 17 (Interfax) - The proposed levy on bank deposits in Cyprus to finance a bailout for that country would undermine trust in Cyprus and negatively impact Russia's interests, said Russian lawmaker and head of the Russian Regional Banks Association Anatoly Aksakov.
Cyprus' wellbeing rested on Russian capital at one time, so "trust in Cyprus as an appealing place in which to save capital would be undermined," Aksakov told Interfax.
Obviously, Europeans did not put money into Cypriot banks, so the bailout will be based on Cypriots' and Russians' bank accounts, he also said.
In experts' estimate, banks in Cyprus keep up to $20 billion in Russian capital, Aksakov said.
Concerning Russia's $2.5 billion in financial aid provided to Cyprus in 2011, Aksakov said "the decision was ill-conceived, if our companies have failed to withdrawn their capital now."
"The situation has highlighted again that the Russian economy must pull out from offshore zones where capital is not always legal, and that the G20, given its influence, "may close such zones."
Reports said earlier that international donors want to reduce their role in the economic recovery of Cyprus and they demanded that a 6.75% levy be imposed on all deposits under 100,000 euros and 9.9% over that amount. Cypriots and foreign nationals residing in Cyprus were shocked by the prospect.
The levy, promising to bring in 5.8 billion euros, will be collected from all residents of Cyprus, including Cypriot civil servants and Russian oligarchs who use Cyprus as a tax haven, La Libre Belgique writes,
The Cypriot parliament's emergency debates of the proposed bill, earlier set for Sunday, have been pushed back to Monday. The debates are due to begin at 4 p.m. locale time (6 p.m., Moscow time).
(Our editorial staff can be reached at email@example.com)
May 21, 2013
There are "very, very many problems" in South Ossetia - Putin
United Shipbuilding Corp to outsource some operations to foreign companies
Lavrov, Kerry discuss preparations for intl conference on Syria
LAVROV, KERRY DISCUSS SYRIA, PREPARATIONS FOR INTERNATIONAL CONFERENCE - RUSSIAN FOREIGN MINISTRY
Dismissal of Moldovan parliamentary speaker, appointing of acting speaker legitimate - Constitutional Court
Russia refuses to let Americans adopt 33 children
Belgazprombank spends almost $3 mln to buy Soutines, Chagalls
Azerbaijan can change Karabakh status quo by recognizing it - Armenian diplomat
Man, woman suspected of involvement in Monday bomb attack in Makhachkala - official
Pro-Western policies essential for Georgia - Saakashvili
Results of Interregional Trading for OFZ & OBR
Russia's top shipbuilder allegedly misses deadlines on 30% of defense contract portfolio
UN Secretary General Ban Ki-moon has given an interview to Interfax ahead of his visit to Russia on May 16-19 in which he speaks about the goals of his visit, pressing tasks that the UN face, the organization‘s reform, as well as topical issues on the international agenda, including situation in Syria and the Middle East settlement.
Deputy NATO Secretary General Alexander Vershbow, who is visiting Moscow for an informal conference of former U.S. ambassadors to Russia and Russian ambassador to the United States, has given an interview to Interfax in which he speaks about NATO-Russia cooperation, as well as pressing issues on the international agenda, such as the missile defense issue, North Korea, Syria and Afghanistan.
British Foreign Secretary William Hague has given an interview to Interfax‘ journalist Olga Golovanova ahead of the 2+2 meeting slated for March 13 in London, on which he speaks about the agenda of the upcoming 2+2 talks, the whole range of British-Russian relations, including human rights, as well as pressing international issues notably Syria.