Also, as an aside,  it is easy to grasp at a narrative alleging vaguely illicit Russian "grey" money when we don't know much about how this is different from trillions of other "investment" money looking for a home all over the world. If the Russians had put their money in senior bonds (like German banks?) rather than into deposits, would this have made it less grey? Is Russian or German money in Swiss banks any less grey?

It seems to me that individuals with some but not a huge amount of wealth are more likely to put their money into deposits rather than bank bonds - which are more the preserve of the seriously rich - but what do I know... this is a different world to the one which I inhabit.

Index of Frank's Diaries