Topic: Cyprus Bailout
- Russia, Cyprus to Continue Vital Loan Talks
- Russian Banking Giant VTB Alarmed by Cyprus Deposit Tax
- Russian, Cypriot Presidents Discuss Deposit Tax Crisis
- Cypriot Parliament Rejects Tax on Deposits
- Russia’s Ex-Finance Minister Slams Cyprus Deposit Levy Plans
- Trendwatcher: Cyprus Bailout: March Madness for Russia’s Rich
GORKI (Moscow Region), March 20 (RIA Novosti) – Russian Prime Minister Dmitry Medvedev on Wednesday slammed the European Union and Cyprus for their handling of the island nation’s debt woes.
Medvedev told a group of European media outlets in an interview that the crisis had been entirely mishandled, undermining confidence in financial institutions, in Cyprus and beyond.
“The actions of the EU, the European Commission and the Cypriot government to settle the debt problem unfortunately only resemble the actions of a bull in a china shop,” Medvedev said.
Parliament in Cyprus on Tuesday rejected a government bill that envisioned a levy of 6.75 percent on deposits of less than 100,000 euros ($128,950) and 9.9 percent on larger deposits, which has been set as a precondition for securing an international 10 billion euro ($13 billion) bailout loan.
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