Saturday, June 01, 2013

It's an ill wind

Reuters report that Cyprus has withdrawn citizenship given to Assad crony Rami Makhlouf --

Makhlouf initially petitioned Cyprus for citizenship in 2009, Phileleftheros reported. His supporting documents included real estate valued at 320,000 euros on the island, and 17.3 million euros in fixed five-year time deposits in Cypriot banks, it said.

Assuming the money was still there recently, that means he took a big hit from the 40 percent haircut on bank deposits in the Cyprus bailout.