I was reading this post by Commander Zero and it made me wonder if anyone really knows what’s going on in Cyprus. Looking at this story that CZ linked to and another story from a week or so earlier, the numbers don’t make sense. If the amount in accounts smaller than 100,000 euros is 30 billion euros ( 68 total minus 38 in the large accounts ) and every man, woman and child in Cyprus has a bank account ( all 840,000 of them according to the 2011 census ), the average size of the small accounts is about 36,000 euros or about $47,000. Really? That seems a little large.
There must be at least a couple of Cypriots with larger accounts. Of course, that just makes the average size of the small accounts larger.
And the big accounts can’t all belong to Russian mobsters. Estimates of Russian deposits range from 4 billion euros to 15 billion euros depending on who you believe. That still leaves over 20 billion euros in large accounts unaccounted for.
It makes me wonder.