07.11.2012
As it is known, the Cypriot banks suffered huge losses because of the restructuring of the Greek debt, in connection with which appealed to the government with a request for recapitalization. Due to the lack of money in the budget authorities turned for help to the European Union and the IMF in June of the current year.
However, recently the Federal intelligence service of Germany-Bundesnachrichtendienstes (BND) has prepared a secret report about the financial situation in
Cyprus. According to this document at first measures to rescue the Cypriot banks will be helpful for the
Russian oligarchs.
According to some information, they keep on off-shore banks of
Cyprus about 26 billion dollars, and in addition, use accounts in these banks for money laundering.
Cyprus believes that such accusations are a provocation. The head of the government of
Cyprus Stefanos Stefan said that there are measures of struggle against «laundering» money in the banks, and the relevant legislation was approved by the Council of Europe back in October 2011. In addition, he underlined that the agreements on the avoidance of double taxation with many countries, including with
Russia, act in the state, which should also exclude illegal financial transactions.
In his turn Minister of Finance of
Cyprus Vasos Siarlis tries to restore cooperation with the creditors and assures compatriots in the fact that the new stage of negotiations on financial assistance will start in 2013.
Expert’s opinion
Cyprus is really a kind of Paradise for taxpayers: low taxes, opaque banking secrecy, and in addition, a very liberal order of granting the Cypriot citizenship to foreigners. According to the information of the Federal intelligence service of
Germany, the Cypriot citizenship has been already received by about 80
Russian oligarchs. Thus they have also acquired the right to reside and carry out commercial activities in any country of the EU.
No doubt that the
German authorities had rebelled, watching such a situation. They do not intend to save the money of the
Russian oligarchs. In essence, however, the indignation of the
German authorities is groundless. All this is carried out in accordance with the laws of
Cyprus and the European Union.
The complexity of the situation is in some of the interdependence of the countries of the Eurozone. If European countries do not help
Cyprus, the consequences for the euro area may be the most painful. Moreover, if European countries do not want to help the little
Cyprus, the assistance of Spain or Italy, is excluded.
Nazarova Yulia ( Paralegal of Moscow office Company Honest&Bright)
