fbpx

No Vacation for You!

Well this is just mean.  Vladimir Putin doesn’t want Russia’s billionaire bankers to take any vacation this summer, while it also looks like the state will become even more dominant in the banking sector.  From the Financial Times:

No villas in the south of France for Russia’s top bankers this summer, if Vladimir Putin gets his way.

Russia’s prime minister has sternly warned bank chiefs not to plan any holidays until they have sorted out the financing of the country’s recession-hit economy.

It will take a huge effort, with output forecast to fall by about 8 per cent this year and hopes of a quick recovery fading.