“Cyprus had applied in June to become the fifth nation to receive a bailout in the euro crisis. But there are no signs whatsoever that Cyprus is willing to commit to a serious austerity program, sources in Brussels said. The talks could now be delayed by accusations that Cyprus is lax on money-laundering. Banks in Cyprus hold $26 billion (€20.33 billion) in deposits by Russian investors. According to the BND, most of this money has been illegally moved abroad to evade Russian tax authorities. By Cypriot standards it’s a tremendous sum given that the island’s entire annual GDP amounts to €17 billion.”
Related posts:
Global Debt Exceeds $100 Trillion as Governments Binge
Protesters banned from tax title auction; 1 man arrested for using video camera
In Newtown, Gun Permits Surge After Shooting
Who's minding the nukes?
U.S. and Europe block ‘treaty for blind people’ due to copyright concerns
Obama Says Bernanke Has Been at Fed ‘Longer Than He Wanted’
Valuations of Hong Kong's stock market operator go interstellar
Many 2011 federal budget cuts had little real-world effect
U.S. Customs seizes American nurse's $42,000 earmarked for Nigerian clinic
Biden urges end to hacking, human rights abuses by China
Ron Paul Revolt Blows Up GOP’s Unified Convention
Walmart may cancel three planned D.C. stores over 'livable wage' act
Egypt's Islamist president cuts diplomatic ties with Syria, urges no-fly zone
Capt. Joseph Hitner Of LAPD Removed In Probe Of Michelle Jordan's Rough Arrest
Saudi government smashes ‘sinful’ statues of horses