How Cyprus—and Russian Gangsters—Could Harm Your 401

US News
Monday 18th March, 2013

U.S. Must Recognize Changing World Economy ] The problem is that bailout fatigue in Germany, Finland, the Netherlands and other European nations has made taxpayers increasingly unwilling to fund bailouts for other members of the euro zone, and more willing to risk the ramifications of the euro zone splintering. There’s another juicy complication: Cyprus is the Cayman Islands of Europe, a lightly regulated offshore banking center that attracts a lot of money from people from who don’t like to answer questions. As much as half of the money in Cypriot banks belongs to Russian oligarchs dodging …

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