Putin and his Russian mob get a haircut in Cyprus

It was likely not an easy call for EU officials: How to make the Russian mob pay their fair share without punishing honest local citizens of Cyprus (assuming such creatures still exist there), and without triggering contagion into other EU periphery country banks based on this precedent of a direct tax on depositors?   

The Russian mob, with Putin as headmaster, effectively owns Cyprus banking.  The country has become their offshore bank, money laundry, and stop-over port for illegal arms shipments into the Middle East. 
  

 Currency Currents 18 March 2013

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