It would be reasonable to assume that the bank runs will be next:
£8.7billion EU bailout imposes tax on ALL bank accounts in Cyprus. Under the deal, all bank deposits over €100,000 will be hit with a levy of 9.9 per cent. Those with smaller savings will pay 6.75 per cent.
The raid will raise €5.8 billion, which will be added to a €10billion bailout from Brussels. But financial experts said the raid – designed to stop Cyprus crashing out of the euro, potentially destroying the currency – would send shock waves through the eurozone.
If savers in other troubled nations fear their accounts might be next, they could withdraw their money and spark a catastrophic run on the banks.
Tell these people, who are losing between 7 percent and 10 percent of their savings, how vitally important it is for Cyprus to remain in the euro. Especially when there isn’t even the remotest prospect for this blatant theft to repair the situation or do anything more than buy a little more time.