Russia's Defense Ministry says US-led coalition unlikely to launch battle for Raqqa soonRussian Politics & Diplomacy March 25, 19:06
Russia cuts oil production by 185,000 barrels per day as of today — energy ministerBusiness & Economy March 25, 18:30
OPEC has no objections to speed of Russia's oil production cutsBusiness & Economy March 25, 12:38
Opposition leader Vladimir Neklyayev detained in Belarus - news agency directorWorld March 25, 5:33
Russia submits amicus curiae brief to US Supreme CourtRussian Politics & Diplomacy March 25, 3:34
Russia, China suggest for UN SC to adopt resolution on chemical terrorism threatRussian Politics & Diplomacy March 25, 3:23
Russian lawmaker compares European Union to Soviet UnionRussian Politics & Diplomacy March 25, 3:16
Russian emergencies ministry says fire at Kazan’s gunpowder factory fully extinguishedWorld March 25, 3:01
Relations btw US, Russia worst over half-century - Lukin quoting KissingerRussian Politics & Diplomacy March 25, 2:58
MOSCOW March 20 (Itar-Tass) – Attempts to impose a tax on bank deposits in Cyprus signify that the neoliberal economic model has outlived itself, Russian Railways President Vladimir Yakunin said.
He believes that this situation may eventually lead to a global economic crisis.
“This is the end of neo-liberalism if Europe is going to solve the European Union’s problems at the expense of bank deposits and using resources of Russian companies and Russian citizens,” Yakunin said at the Moscow Economic Forum on Wednesday, March 20.
He noted that the crisis in Cyprus reflect crisis processes in global finances. In order to avoid a global economic collapse, it is necessary to create international institutions that will oversee the financial sector, Yakunin said.
On March 19, the Cypriot parliament rejected the proposed tax on bank deposits.