Nation overspends, needs a bailout, part of the bailout is that the government seizes a percentage of savings accounts over 100,000 euro.
Government of Cyprus has turned into nothing more then common criminals. If Cyprus can do this, what is stopping Spain, Ireland or even the united States from seizing bank accounts?
For several decades rich Russians have used Cyprus as a form of tax haven, much like what U.S. companies are doing to other nations. If Cyprus can seize money from bank accounts, what is stopping The Caribbean Islands from seizing money from google, facebook,,,, and other companies who offshore for tax havens?
How much more will the people tolerate before they revolt?
The middle class will be being driven into poverty one way or another. If the banks can not bankrupt the nation, the government will just take what they want.