It can happen here! Seizing Assets is NOW out of the Money Bag. Cyprus "Salvaged" After EU Deal Shuts Bank to Get $13B

Layers and layers of worthless bureaucracies spending their time (and your money) figuring out new ways to acquire your money! We are considered as subjects by the government and it considers all money as theirs. m/r

Cyprus Salvaged After EU Deal Shuts Bank to Get $13B - Bloomberg
By Rebecca Christie, James G. Neuger & Svenja O’Donnell - Mar 25, 2013

... Cyprus’s leaders engineered another way of shrinking the island’s financial system.

The revised accord spares bank accounts below the insured limit of 100,000 euros. It imposes losses that two EU officials said would be no more than 40 percent on uninsured depositors at Bank of Cyprus Plc, the largest bank, which will take over the viable assets of Cyprus Popular Bank Pcl (CPB), the second biggest.

Cyprus Popular Bank, 84 percent owned by the government, will be wound down. Those who will be largely wiped out include uninsured depositors and bondholders, including senior creditors. Senior bondholders will also contribute to the recapitalization of Bank of Cyprus. ...

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