Gorky, Moscow region - Russian Prime Minister Dmitry Medvedev has criticized the actions of the EU and Cypriot government to resolve the debt problem.
“So far actions of the European Union, the European Commission together with the Cypriot government regretfully resemble a bull in a china shop to me,” Medvedev said in an interview with Interfax and a number of European media.
“It seems to me that every possible mistake that one could have done in this situation has already been done,” he said.
Confidence in financial institutions not based in Cyprus has been undermined, he said. “Our harsh assessment is linked to this. We are for bringing order to the financial sphere in order to take measures to revitalize banks, and naturally to have transparent information on the owners of accounts and beneficiaries,” Medvedev said.
However, all of those actions should not lead to the destruction of the banking system, he said.
“Regretfully, it – the Cypriot banking system – is in a very difficult situation. In fact, it was stopped, not to say that the financial situation of this EU member is close to a default,” Medvedev said.
