The money seized will have no real effect as everyone with a brain in the EU will start withdrawing their cash and keeping it at home. The other banks will lose far more than is confiscated here, and some will have to be bailed out that would not have had to be otherwise.
You realize your second sentence proves the first one wrong? Mass withdrawals will crush the banks who don’t have the funds to actually pay off depositors? I think we and probably Canada see a bunch of that withdrawn cash.