[Sirius]

Originally Posted by nomadking

Haven't the financial problems in Cyprus mainly come from their Banks effectively propping up the Greek Government ie buying Greek Government debt. If the Cypriot banks hadn't done that, then the Greek problems may had started years before they eventually did.

Being a member of the Eurozone does not help because lets face it that currency for most is toxic. Cyprus was a financially well run country when i last visited and they were using there own currency at that time, however since then they have joined the Euro and are now controlled by that currency.

http://www.bbc.co.uk/news/world-europe-21825981

Vladimir Putin, the president of Russia, whose banks and businesses have significant deposits in Cyprus, on Monday called the levy "unfair, unprofessional and dangerous", his spokesman said.

'People betrayed'

If the deal is defeated in Cyprus' parliament, state media say banks could be closed on Tuesday so as to avoid mass withdrawals.

Sue Hall runs a wedding business in Cyprus: "Most of the money in my business deposit account belongs to couples who are to get married"

I hope Germany and France are happy with how they are treating the smaller countries