Is this true? I feel like citation is needed for that statement. I thought the EU actually wanted to protect the minor deposit holders, as it has been the case all over Europe up until now.
"Cyprus President Nicos Anastasiades says he is battling against eurozone demands that all bank customers pay a one-off levy in return for a bailout.
Mr Anastasiades said he shared people's unhappiness with the terms, whereby all bank customers would pay a levy of 6.75% or 10% on their bank deposits.
The EU and IMF have demanded the levy in return for a 10bn-euro ($13bn; £8.6bn) bank bailout."
The key thing here is that the EU accepted the original proposal, they were okay with seeing deposits of less than €100k being hit, regardless of any deposit guarantee. Public fury resulted in the Cypriot Parliament rejecting the proposal and the EU back-peddling from the original terms.