Sports arbitration court strips Russian boxer of 2016 Olympic silverSport December 08, 22:48
Russia, US military experts, diplomats to discuss Aleppo in Geneva on Dec. 10 - LavrovWorld December 08, 22:41
Lavrov says US voiced regret over shelling of hospital in Aleppo but somewhat hazilyRussian Politics & Diplomacy December 08, 21:48
Budget revenues from Rosneft privatization to be $11.1 bln — ministerBusiness & Economy December 08, 21:18
Lavrov, Kerry discuss militants’ withdrawal from Aleppo — Russian foreign ministryRussian Politics & Diplomacy December 08, 21:00
Lavrov: Combat actions in Aleppo suspended to take civilians out of cityRussian Politics & Diplomacy December 08, 20:56
Bach says WADA to play part in deciding on 2021 IBU World Championship in RussiaSport December 08, 20:44
Gazprom signs contract for construction of Turkish Stream’s first line with AllseasBusiness & Economy December 08, 20:03
Russian Energy Ministry confirms non-OPEC countries meeting date as December 10 in ViennaBusiness & Economy December 08, 19:59
GORKI, March 20 (Itar-Tass) – Prime Minister Dmitry Medvedev warned that the financial situation in Cyprus can trigger a series of new crises, can inflict heavy losses on many banks and can lead to termination of the Russian-Cypriot agreement on the avoidance of double taxation.
“There is no doubt that this situation [regarding the Cyprus debt crisis] worries everyone in the European Union and can trigger a new series of local financial crises,” he said in an interview with European media on Wednesday, March 20.
In his opinion, the Cyprus crisis can have many consequences. One may affect the Russian-Cypriot agreement on the avoidance of double taxation. “I do not know whether we need such an agreement in this situation. Its termination can become an issue to consider,” he said.
“We support efforts aimed at bringing order to the financial sector, revitalising banks and opening up information on account holders and beneficiaries. All these are normal things to do, but they should not cause the banking system to collapse,” the prime minister said.
In his opinion, the Cypriot banking system “is in a very difficult situation. It has basically been brought to a halt, let alone the fact that the financial situation in this EU member country is on the verge of default,” he said.
“We believe that they should have discussed such negotiations and decisions with different interested parties rather than hide behind phrases that it is inappropriate for Cyprus to discuss this with someone else,” Medvedev said. “Then let them make all decisions only within the EU. But I am not sure that this is so good,” he added.
He compared proposals to seize a part of bank deposits with the seizure of property by Soviet power. “The proposed measure is obviously expropriating and confiscating, and absolutely unprecedented in nature,” Medvedev said. “I cannot compare it with anything else but the decisions that were made at some point by Soviet power which handled people’s savings quite unceremoniously.”
“We live in the 21st century in a global economy and insist that the right of ownership and all key provisions regarding bank regulations should be complied with,” he said.