Cyprus Bailout - possible bank run

[JDizzle]

I haven't seen any comments on this board about this subject. With all of the FX brokers in Cyprus it is bound to affect traders somehow. The EU is basically confiscating individual depositors accounts to the tune of 6.75 % if your account is below 100,000 eu and 9.9 % if it is above.

"Since the European debt crisis began in late 2009, savers have been spared. But the bailout of Cyprus, agreed to on Saturday, foresees the government seizing 6.75 percent of deposits below €100,000 ($130,860), rising up to 9.9 percent on those above €100,000. That signals a huge policy shift for the embattled eurozone."

Link: http://abcnews.go.com/Business/wireStor ... e-18751975

Any opinions?