I don't think any government should have the ability to take money out of the bank accounts of private citizens to pay the debts created by bureaucrats. Elected officials need to be responsible for their over spending. The government of Cyprus should be ashamed of themselves!
I fear our own county should consider setting up strict laws that would prohibit our government from doing a similar raid on private citizens savings should our own county find itself in a situation similar to Cyprus. Unfortunately, too many in the current administration already feel they are above the law and can just rewrite our constitution to fit their needs!