do I really have to say it???
From Reuters:
While ordinary Cypriots queued at ATM machines to withdraw a few hundred euros as credit card transactions stopped, other depositors used an array of techniques to access their money.
No one knows exactly how much money has left Cyprus’ banks, or where it has gone. The two banks at the centre of the crisis - Cyprus Popular Bank, also known as Laiki, and Bank of Cyprus - have units in London which remained open throughout the week and placed no limits on withdrawals. Bank of Cyprus also owns 80 percent of Russia’s Uniastrum Bank, which put no restrictions on withdrawals in Russia. Russians were among Cypriot banks’ largest depositors.
http://www.reuters.com/article/2013/03/25/eurozone-cyprus-muddle-idUSL5N0CG13920130325
Pure speculation on my part, but I’d guess that most of the big Russian money is long gone, and maybe some of the larger British expat accounts and well-heeled Cypriots may have taken advantage of this “bank holiday” as well.
As to where? Latvia, the Cayman Islands, Isle of Man, etc. most likely. I doubt any of it was repatriated to Russia. It flew away on a stream of electrons to other money havens.
But that could never happen here.
Uh oh.
Think about Warren Buffet, Goldman Sachs, Paulson and how that combo would have worked the same situation should it occur here.
I still can not figure out how that deal was never investigated.
do I really have to say it???