Replies to post #242215 on BOUNCE (BOING)

[oldberkeley]

There's many people of Russian descent in Cyprus, so there's a cultural link.

More importantly, in the 90's a lot of the Russian rich (both legal and not-so-legal) began putting their cash into Cyprus banks because those banks did not ask many questions about where the money came from.

Probably about 1/3 of all the deposits in Cyprus banks are Russian. You can bet that they've put a lot of pressure on Cyprus politicians!