Crisis Fallout and Financial Ties

Five years ago, Cyprus was in crisis. An international bail-out worth over ten billion dollars saved the economy from meltdown, but also cemented the Mediterranean country’s ties to wealthy Russians. Many of them received a slice of Cypriot banks for cash seized from their accounts to help fund the rescue plan. A controversial and lucrative investment-for-passport scheme has also attracted Russian money - as well as new EU scrutiny.

While many banks have ditched their Russian clients and authorities have implemented a new system of stringent checks, Ivana Davidovic travels to the port of Limassol to investigate whether Cyprus has really cleaned up its act.

(Picture: Yachts line the marina in Limassol, Cyprus; Credit: Sean Gallup/Getty Images)