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| And so are the Russian deposits ... |
If Zero Hedge is correct, the deep pockets of the oligarchs will not be picked to save the Cypriot banks. Seems that subsidiaries were left open with no limits on withdrawals so ..... poof! On the bright side (assuming there is one) if they have no deposits then they should not get any ownership in the recapitalized banks. That would mean the folks that could not get their money out and suffered the big hit could come out OK in 5 or 10 years and ... uh Gator ... put down the bowl, son. That's a pipe dream.
