“The euro rescuers face a dilemma. On the one hand, they want to prevent the country from going bankrupt. On the other hand, they lack the support of a majority of member states for an aid program that would mostly benefit rich Russian tax fugitives.  The tricky situation is prompting European leaders to do what they always do when a crisis comes to a head: play for time.  Until now, someone who wanted a safe haven for his money could simply take a plane to Nicosia, because the country is an EU member and yet is lax when it comes to financial regulation, say German investigators.”

http://www.spiegel.de/international/europe/tax-haven-reputation-plagues-eu-bailout-of-cyprus-a-877369.html

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