The citizens of Cyprus are getting a really raw deal. There is no justification for confiscating the bank accounts of private citizens who have worked hard and saved money. In many cases, these folks may have sacrificed in order to save for retirement or for childrens' education or for the future. What kind of message does that send? If you do the right thing and prepare to take care of the future for your family, the government will come in and seize your property. If you are irresponsible and never save money, just spend whatever you have, there's nothing for anyone to take. We have a similar situation here in the US with the Estate Tax. If you spend all that you have, take lavish vacations like the Obama's and just spend, spend, spend (Also like Obama), there's nothing for the government to take. However, if you live frugally and save in order to pass your fortune along to your family, the government jumps to the front of the line and seizes "It's Fair Share."