This is THEFT. I leave my country if that happens to me.
(I am from Poland, EU)
(I am from Poland, EU)
Like it or not, when you deposit 100 euros in a bank, you don't have 100 euros anymore - you instead now have an unsecured bank debt with a face value of 100 euros.
But it's kind of risk you should be aware of when keeping money in bank. Simple taking money from accounts under risk of bankruptcy isn't.
If you have 100k EUR in a bank account in Cyprus today, you're going to get 93.250k EUR on Tuesday. If instead the bank went bankrupt you'd have 100k EUR in your bank account on Tuesday too thanks to the deposit insurance. You'd be better off if the bank actually went bankrupt!
The typical pro-bailout argument at this point is that if Cyprus lets the banks go bankrupt the deposit insurance scheme (in other words, the government) won't be able to make everyone whole. That argument is a tacit admission that bank accounts really are unsecured.