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Wrong. The banks loan out money that is deposited to people seeking loans. These Russians are helping Cyprus. There is no such thing as parking money (with the
by steve19 14y ago
Wrong. The banks loan out money that is deposited to people seeking loans. These Russians are helping Cyprus. There is no such thing as parking money (with the exception of stuffing your mattress with usd)
The people who save (Russians, Cyprus locals) should not be punished.
- dschiptsov 14y agoIt seems like you have never been in Cyprus.) There is nowhere to loan billions. The population is small, businesses are tiny. And of course there are no "people who save". It is mostly enterprises trying to hide money from taxes and corrupted officials, who cannot show unearned "wealth" at home. People would benefit when the money would be invested at home (well, in Russia it is a suicide), or perhaps, in an agriculture in a highly populated developing countries where lots of people just need a job to support their families.
- justincormack 14y agoThats not quite true. There was a massive property bubble. But a lot was lent in Greece, or used to buy Greek and Cypriot government debt.