This cartoon by Chapatte from the International Herald Tribune relates to the Cyprus banking crisis (see Tuesday's Mac cartoon for more on this).
BACKGROUND
As part of a 10-billion euro EU bailout plan agreed in Brussels, bank depositors in Cyprus were to be subject to a one-off levy of up to 10% on their savings (this rescue plan has since been rejected by the Cyprus's parliament). It is estimated that about one half to a third of all Cyprus bank deposits are of Russian origin. The suspicion - particularly in Germany - is that a lot of the money is from ill-gotten gains.
THE CARTOON
A Russian "investor" is shown outside a Cypriot bank holding a suitcase crammed full of money. He is telling someone called Vladimir on the phone that "the washing machine is broken". We can tell he's Russian from the fur hat and coat. And by the fact that his friend or associate is called Vladimir (a Russian name). And, of course, by the fact that he's accompanied by a statuesque blonde with a poodle, and a snake around her neck!
EXPLANATION
The "washing machine" is a euphemism for money laundering—the process of concealing the source of money obtained by illicit means. The man is using coded language to tell Vladimir that his method of laundering money is no longer viable due to the "deposit tax".
VOCABULARY
1. A washing machine is a machine that you use to wash clothes in.
2. A deposit is an amount of money that you pay into a bank account. • He made a £2,000 cash deposit on 5 April.
