Cyprus News | Russia Offering Bailout to South With Strings

Cyprus News | Russia Offering Bailout to South With StringsCyprus News | Russia Offering Bailout to South With Strings

According to Russia Today, the south is being offered a $23bn bailout loan in exchange for the names of Russians holding bank accounts there. Russia’s central bank governor Sergey Ignatiev said that money laundering in Russia was costing $19.5bn a year and a substantial part of that loss might be as a result of the south’s banks being involved in money laundering.

If there were even a grain of truth in these rumours then there could be a Russian exit from the south to the north, further depressing the south’s economy as a result of lost property sales and bank withdrawals.

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