Quote ="Mintball"It's a mess, without doubt.
Although frankly I can't imagine why anyone would want to have their own taxpayers bailing out the Russian mafia if there's a genuine belief that large pots of money in Cypriot banks are exactly that.'"
Having read some more about it, it seems the idea behind this is the Cypriot government are really after a nice chunk of the billions on deposit there originating in Russia. The fact they are hitting everyone to a certain extent (latest rumour is the lower threshold will be 3% the higher one 12.5%) is a kind of fig leaf to show they just aren't seizing the money of one particular set of depositors.
I still think it is probably illegal. The ECHR has as one if its fundamental principles that no one shall be arbitrarily deprived of their property.
