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Ian Bremmer: Why Russia refused to bail out Cyprus


From FT:

bailing out offshore accounts would have been quite awkward. The wealthy Russians who he would be bailing out are one of his most loyal constituencies: they are thorough Putinists, and the current political landscape offers them no other outlet for their allegiance. When it comes to broader domestic opinion, any other Russians who were actually paying attention to the issue likely approved of Mr Putin’s performance. He was vocal in his protests against any plan that would hit Russian depositors but when the time came, he walked away from the table. Read more

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