Baltic banks
Red litas day
A bust bank in Lithuania sparks worries in Latvia
Nov 26th 2011
Thursday May 24th 2012
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Why "Lithuania gave Snoras such an easy ride in the past" should be answered by ex head of central bank, R.Šarkinas, which was summoned by prosecutors already (no official charges yet). The broad answer could be grave cronyism and impotence of previous SocDem (ex-Communism) rule.
As you stated, there is no threat to massive bank-run, just localized queues of pensioners who still remember the devastating bankruptcies of banks in Lithuania at the dawn of capitalism system. And maternal Scandinavian banks should quite easily withstand them.
Anyway, kudos to govn'er of central bank and other financial officers, as Snoras was an open wound in banking system for long enough, with rumours of money laundering and other swindles
London seems to be a safe heaven for all the thievish oligarchs of the world - great city with abstruse legal system. Baranauskas is now arrested on bail, and has to report daily (as it happens, in Bromley police station, which is about 1 mile down the road from my house :).
About R.Šarkinas, ex guv'nor of central bank, I never liked the man. He's a sieve, useless slacker. 5 years in charged, and nothing done to stop Snoras, that must be either shear corruption, or criminal incompetency.
Dear Baekjo
Could you expand on that theme about R.Šarkinas? Do you mean he intentionally ignored the Snoras situation, or had some profit himself? What I do not understand however is why did the managers of Snoras bank Antonov and Baranauskas went to Great Britain? Why didn't they go to Russia instead? I am a bit confused about that situation.