I recently gave a series of interviews with international and Russian media outlets including the Associated Press and RBС TV. In March much of the media’s attention was focused on the fiscal/political crisis in Cyprus. The controversial idea of seizing a percentage of the funds depositors have held in Cypriot banks kicked up a real storm in the markets.
The journalists I spoke with were interested in the level of trust in the banking system, in offshores and in the European Union as a whole. I believe that, even in spite of all of the negativity out there, the Russian business community continued to show confidence in Cyprus in March. There’s a flipside to any crisis situation – the opportunity to derive some sort of benefit out of things and take advantage of new growth opportunities for business. I am certain that FXTM will only continue to strengthen its position in the market in the near future.