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Non-euro area residents' deposits in Cyprus are E20.9bn (31% of total deposits) and an estimated two-thirds are Russian accounts. Cyprus' GDP is E17.9bn.
posted by Whispering Walls at 12:21 pm
Friday, March 22, 2013
Non-euro area residents' deposits in Cyprus are E20.9bn (31% of total deposits) and an estimated two-thirds are Russian accounts. Cyprus' GDP is E17.9bn.
6 Comments:
It would be interesting to discover how the Cyprus (Greek) situation is impacting on Turkish North Cyprus. The 'border' is open and it could be possible to draw Turkish lira from ATMs there.
For a country that was almost on its knees not that long ago, Russia is spending scarily large sums of money. Son's current school (used to be in Winchester, which was how I found you) has more than its fair share of russians. The school doesn't like to ask too closely What Daddy Does.
Hi Portinari - I doubt it: all the Cypriot banks are closed so they'd need a Turkish bank account.
Greetings JR! Yes I've heard mixed reports re Russians at English schools. I hope your son is enjoying school and am pleased you found my blog.
Northern Cyprus is effectively Turkey. Mind you, hell mend the Greek Cypriots. They voted NOT to re-unify whilst the north voted for re-unification. I have a friend who has a villa ( read compound) next to where Asil Nadir has one. Whatever prompted him to come back to the UK is completely beyond me. I remember a broker telling me in the 80s that the only way PP could make that much money was if the orange boxes contained cash.
Indeed KL - can't believe he really thought he'd have amnesty
The Russians at my children's French school paid their school fees and other dues in cash. And spent their summer holidays in Cyprus!
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