Cyprus must not solve its economic problems at expense of residents, foreigners - Naryshkin
MOSCOW. March 18 (Interfax) - A one-off deposit tax Cyprus has announced is like nationalizing money of its residents and foreigners, Russian State Duma Speaker Sergei Naryshkin said.
"The approaches to which the Cyprian authorities might resort resemble a wide-spread nationalization of private property because they consider free money people have deposited to be theirs and obviously have plans on how to use these funds," Naryshkin told reporters on Monday.
Naryshkin said that there were better examples how a state could solve its economic problems, "when amid a financial and economic crisis, the state, on the contrary, accommodates its residents and business circles and helps to keep deposits, to preserve residents' money amid the crisis."
Naryshkin said that in 2008-2009, when the world financial turmoil began, the Russian government had declared that it would take all necessary measures to preserve money of its citizens and organizations. "And the Russian government has not only declared but indeed has done everything necessary to fulfill this," the politician said.