The people of Cyprus deserve exactly what they are getting. They’ve been voting for these big spending, bloated governments and the banks have acted as their enablers. Now the shareholders in at least one of these banks will be completely wiped out and uninsured deposits (over 100K Euro) will take a massive haircut across the board. This type of bailout actually avoids going directly after the tax payer as others have done. A lot of money streaming into Cyprus banks have been dirty anyway - and everyone knows it.
Will we deserve it when it happens here?
I laugh at those who have been mocking all the entities screaming for bailouts, yet now berate the EU for finally demanding some real conditions.
The EU knows what it's doing here IMO...in future the number of people asking for bailouts is going to be seriously curtailed...finally!
Yes, the stealing of what was stolen continues.