‘Cyprus avoids being expelled from Eurozone’

Published on 26 March 2013 at 12:01


As a result of the March 25 agreement on the Cypriot bailout, "Cyprus could definitively lose its role as an offshore financial centre," writes the Moscow daily.
Certainly, it will be viewed negatively by the "large number of Russian investors who will be affected" by the 30 to 50 per cent haircut on Bank of Cyprus deposits.
Russian Prime Minister Dmitri Medvedev has declared that "stealing continues" in Cyprus, while President Vladimir Putin has asked his government to negotiate a restructuring of the €2.5bn loan Moscow granted to the island in 2011.

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