© Mikhail Klimentyev/Associated PressVladimir Putin. Russia's stock markets tumbled amid growing concerns over the Cyprus bailout.
Russian companies have an estimated $19 billion in Cypriot bank accounts. Russians have for years seen Cyprus as an investor-friendly jurisdiction with lax banking regulations and low taxes.
A proposed bailout of Cyprus's economy would impose taxes on bank deposits of up to 9.9 percent.
Putin's spokesman Dmitry Peskov said the president criticized the plan in a meeting with economic advisers.
Putin was quoted by Russian news agencies as saying that the decision, if taken, would "unjust, unprofessional and dangerous."
Source: AP
Why does it take the leader of Russia to put the West's stupidity in perspective?
Vladimir says it's unjust, unprofessional and dangerous.
I say let's translate that nicety to:
Greedy, all-day-stupid and reckless.
The wasting of the West knows no bounds. A monetary plague if you will.