Medvedev Vexed Over EU

Politics ♦ Published: March 25, 2013; 19:57 ♦ (Vindobona)

In case the government will not come to conclusion how to generate the required money (€ 5.8bn), the ECB will cut off the money supply for Cyprus’ ramshackle banks.

Medvedev Vexed Over EU / Picture: © Wikipedia / Materialscientist

The measure will cause high losses for uninsured foreign investors in Cyprian banks. The majority of them are from Russia. Medvedev considers the bail-out plan, which includes a mandatory levy for assets above the amount of € 100,000 for clients of Cyprus’ two biggest banks, as an act of theft. "The stealing of what has already been stolen continues," Medvedev was cited by news…