The reason the Euro fell out of contention as a reserve currency:
https://www.theguardian.com/world/2013/mar/25/cyprus-bailout-deal-eu-closes-bank
Not the only reason- Cyprus ( EU) started Bail-ins. They ruled the depositors loaned their money to the banks and ruled they were “ investors”. They were given stock in the failed banks instead of cash. Many think that can happen here.
Research Bail-ins, as the EU did it already most will not deposit large amounts into EU banks.