Yep. The only mistake the EU made was originally demanding that ALL bank depositors take a loss. But governments will learn from that mistake. In the future, they'll just pick a level high enough so that the average man in the street won't riot.
>>But governments will learn from that mistake. In the future, they’ll just pick a level high enough so that the average man in the street won’t riot. <<
It’s the wealthy who can afford to hire professional hit men to take out the politicians who voted the wrong way. The common man doesn’t have the skills or resources for this type of operation. They are playing with fire whatever they do.
The idea was originally put forth by the Cyprus government itself. Of course, once it was on the table, those asked to fund the bailout demanded that it remain so.
But now the general spin is that those poor, innocent Cypriots are forced into something they never wanted and never precipitated in the first place (including their banks melting down due to stupid decisions). Yep, it's ALL the fault of those willing to GIVE money for a bailout. Paging Mr. Orwell, please pick up the white courtesy phone...