The Russian media are reacting.. very negatively to this.
Some believe it is a plan to strongarm the Russian government into paying part of the costs of 'saving' Cyprus.
This is what worries me most.
If we extrapolate this out...
What caused all of these banks and governments to implode? Or who is the worthiest scapegoat?
These European governments and banks are in dire trouble for two reasons: overspending and investment in worthless American mortgage backed securities.
It wouldn't be a stretch for European governments to claim they've always operated this way, but it was the American and Western European bankers who sold them the 'investments' that bankrupted them.
So now Cyprus is sticking it to the the Russians purposely- I don't see this ending well.
Maybe we could round up Bawney Fwank, Timmy Geitner, The execs from lehman Brothers and Goldman Sachs and send them to Russia for a consolation prize.