Cyprus has shown the deposit guarantee system and the belief Eurozone banks are underpinned by the EU financial system is bunk.
Dopsitors are guaranteed up to 100K, you must know this so why are you faking shock and outrage?
It’s punishment ECB style.
Yes and its good.
These controls are unlikely to last long
5 years and counting in Iceland.
In my view the EU has behaved disgracefully towards Cyprus. Bully boy tactics towards a small nation trying to make it’s way in the world as best it could.
Cry me a river. Cyprus is an mess entirely of it own making and has leeched off EU membership for money laundering purposes. You’d feel pity for a thief who gets caught because he was ‘trying to make his own’ way?
They are perfectly entitle to refuse the EU’s money and become fully independent with their own currency. EU have told them to their face, go ahead and do it.
Guess what, that won’t happen
Almost certain and 25% seems at the bottom end. Argentina was around 50%, although the Peso (which were give instead of dollars) is now about 12% of its value. Iceland was 100% (but 95% was recovered after a few years).