Russia to Contribute to Cyprus Aid-Package

People ♦ Published: April 8, 2013; 16:46 ♦ (Vindobona)

President Vladimir Putin has announced that Russia will contribute to rescue-package for Cyprus.

Russia to Contribute to Cyprus Aid-Package / Picture: © Wikipedia / Túrelio

After Putin’s visit to the industrial fair in Hannover, Germany, on Monday, he announced that Moscow has given Cyprus $ 1bn as a state loan which will now be restructured. However, he assumes that this solution will be an “individual case” and this method will not have to be used again. Cyprus is going to levy a compulsory tax on bank assets above € 100,000. The majority of…

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