Cyprus Bailout Risks Europe Bank Runs

[dsgrue3]

Kasz216 said:

dsgrue3 said:
FDIC baby.

Actually that's part of the big controversy.  Cyrpus DOES have a program like the FDIC.

Yet they are still hitting people below their FDIC cap.

I see the issue then. That's faily disconcerting and pure thievery. There is a legal obligation to insure the monies up to that point. Suddenly taxing that is not legal. I imagine there will be a bevy of lawsuits in regard to this.