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Monday, October 24, 2016

Gref did not have to hide in the bushes, returning a “frozen” money Russians

German Gref compared with the robbery “Paul” reform of 1991, the year which was “frozen” deposits. However, he stated that the Soviet banking system was on the same side with depositors, that is, was also robbed by unqualified policy of the authorities – the money seized.

photo: Alexander Astafyev

“It’s not fair and immoral to take money. This is not a robbery, but a robbery. This is open stealing of someone else’s property. Just that the Soviet authorities openly stole other people’s money. This is unacceptable… of Course, if the Soviet Union thought a little what injury it will cause the entire financial system, trust in government, banking system, of course, he never had to do that. One-off solved the problem some, but for decades gave birth to the colossal problem of distrust,” said Gref.

About the “frozen” savings is remembered after one of the users of the social network, offered to return deposits and interest thereon at a rate of 1 to 150, or pay a stock savings Bank. Herman Gref agreed to the proposal, but said that the problem is that the payer should not be the Bank, and the state.

The volume of domestic government debt on savings on January 1, 2012, according to the Finance Ministry, amounted to 27.7 trillion rubles. Compensation in the triple size of the rest of the deposits are currently provided only to citizens before 1945 year of birth inclusive, and double the size — the citizens 1946-1991 of a birth, including heirs. Size of payments depend on the period of storage of contributions and is reduced by the amount previously received preliminary compensation and additional compensation for deposits.

Basil Licorice, Director of the Banking Institute HSE:

– In 1991, people would save their money, including the most important needs, including a comfortable retirement. Hence, such a high mortality rate of the elderly, when deposits were frozen. Guilty in this, of course, the government. It privatized the savings of the population. In the “fat zero appeared the illusion that the authorities finally pays off these debts. However, it did not happen. Now after the Olympics and other huge costs to VEB also financial problems, and again, like in the 90s, sent to support the savings of the population, retirement only now.

With regard to the statements by Gref that the payer is not a Bank, and the state… the State has a compelling responsibility to address this issue, but Gref with his Bank don’t have to hide in the bushes. Some of the money went on repayment of deficiency of the state budget, but something could remain in Bank accounts. If so, then the Bank is jointly and severally liable for the “frozen” deposits.

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