If I understand the EU bail out deal for the Cypriot government, all deposits of over 100,000 Euros will be subject to confiscations of 40% or more. this will be for the purpose of funding the bail out.
I would imagine that there are quite a few people here on this blog who have enough money in the bank to "qualify' for the Cypriot "haircut."
What do you think of the deal and the precedent it creates? pl