Rus News Journal

V.Tchizhov: the Russian Federation grants the loan to banks of Cyprus, instead of the European Union as a whole

the Credit given by Russia to Cyprus, is not connected with the financial help to the European Union countries which have appeared in a difficult situation, and aimed on rekapitalizatsiju bank system of republic, the constant representative of Russia in the European union Vladimir Tchizhov has informed journalists.
now it is a question about rekapitalizatsii bank system which involuntarily became a victim of close connections with bank system of Greece. If negotiations come to the end with the agreement it will be the bilateral agreement which is not concerning the program of assistance to the countries, appeared in a difficult financial position which realise Eurocommission, the European central bank (ETSB) and the International currency fund (IMF) - he has told.
we will notice that on July, 6th 2012. The Minister of Finance of the Russian Federation Anton Siluanov has informed that Russia has received the reference from Cyprus about granting to it of the credit in volume 5 mlrd euro. Cyprus has addressed not only to us. He has addressed and behind the help to the European Union, the question there is considered. We also have received the reference from the Cyprian party, now we consider - the minister has underlined. Thus, as the director of department of a public debt and the state financial actives of the Ministry of Finance of the Russian Federation Konstantin Vyshkovsky has noted in turn, Russia at decision-making on granting of the next credit to Cyprus will consider the European Union decision.
in the end of June 2012. The government of Cyprus has addressed to partners in an eurozone with an appeal to render the financial help. In case of the statement of the program of the help of the power intended to struggle at the expense of the allocated means with consequences which are caused by debt crisis in Greece.
meanwhile in the end of the last year Russia has granted to Cyprus the loan on 2,5 mlrd euro. Means have been given for 4,5 years under the rate of 4,5 % annual. Representatives of the Cyprian government informed that the interest rate offered by Moscow was considerably below the rates discussed with other potential creditors, in particular the European countries which offered 15 % annual.
it is necessary to notice that Cyprus is one of key offshore zones where a considerable quantity of large Russian corporations is registered. Thus, the essential share of the Russian economy directly is dependent on a condition of bank system of republic.
earlier it was informed that till June, 30th Cyprus needs to find 1,8 mlrd euro, that is 10 % of an annual internal national produce republic (gross national product), on rekapitalizatsiju the second-large bank of the country - Cyprus Popular Bank after the credit organisation has had in loss at the rate about 2 mlrd euro at re-structuring of the Greek sovereign debts.
the financial help was necessary for Cyprus, after in the middle 2011. The country has been almost isolated from the international debt markets. Profitableness of traded bonds of Cyprus has sharply jumped up against budgetary instability and zavjazannosti local bank sector on Greece which is in preddefoltnom a condition.