The only thing differing from Greece and Cyprus...is Russian billionaire involvement. The real potential loser in Cyprus are Russians. When the smoke and dust settles...half their capital is likely gone...forever. Toss in a few dead bankers and a political figure or two as retribution...then the Cypriot cops finally get tough and toss the Russians off the isle. That’s the only outcome I see in the end.
One hint....when the Russian billionaires leave....where do they go, and how many years before that next banking sector is compromised? You can already start the clock on this one. Five to seven years....another major country failure will occur.
interesting question, where DOES the Russian new money (old KGB and mafia) go if they leave Cyprus?
perhaps the Cyprus gas fields have enough possibility that the Russians will strike a deal to take them in return for a bog loan, then just go ahead and buy Cyprus instead of renting it
You know what they say- you owe the bank $100,000 and it owns you. You owe the bank $100 Billion dollars, and you own it
I don't believe Russian money drove this issue at all. This stuff about Russian mob money is a distraction.
If it did, consider the crap going on with US banks.
...that didn't make me feel better about this, either.