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GreekReporter.comGreek NewsCyprusVladimir Putin Orders Cabinet to Study Restructuring Greek Cyprus Loan

Vladimir Putin Orders Cabinet to Study Restructuring Greek Cyprus Loan

President Vladimir Putin has instructed his government to negotiate the restructuring of a Russian bailout loan to Greek Cyprus, his spokesman Dmitry Peskov said on Monday.
The announcement signals Moscow’s support for a 10 billion euro ($13 billion) European Union rescue deal struck over the weekend, despite concern that Russian depositors in Greek Cyprus could take losses as a result.
Prime Minister Dmitry Medvedev said Monday that Moscow intended to study the consequences of the Greek Cyprus bailout deal agreed in Brussels amid analyst warnings of Russian deposits suffering the biggest hit.
“We have to figure out what this story turns into in the long run, what the consequences for the international financial and monetary system will be — and thus, for our own interests as well,” news agencies quoted Medvedev as saying in Russia’s first official response to the rescue.

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