Russia speaks out against Cyprus bailout
Share Now on:
Eurozone finance ministers reached a last minute deal to grant Cyprus a $13 billion bailout early this morning. Those with large deposits in Cypriot banks could be hit will a tax of 30 percent in order to help fund the bailout.
But the news extends beyond Cyprus, which is a popular off-shore location for international bank depositors. Many Russians with money in Cypriot banks will feel the pain of the bailout. And that, according to Russian Prime Minister Dmitry Medvedev, amounts to thievery.
“The stealing of what has already been stolen continues,” Medvedev said.
The BBC’s Steve Rosenberg in Moscow joins Marketplace’s Mark Garrison to explain how Russians are responding to the latest bailout plan in Cyprus.
We’re here to help you navigate this changed world and economy.
Our mission at Marketplace is to raise the economic intelligence of the country. It’s a tough task, but it’s never been more important.
In the past year, we’ve seen record unemployment, stimulus bills, and reddit users influencing the stock market. Marketplace helps you understand it all, will fact-based, approachable, and unbiased reporting.
Generous support from listeners and readers is what powers our nonprofit news—and your donation today will help provide this essential service. For just $5/month, you can sustain independent journalism that keeps you and thousands of others informed.