That's a gross mischaracterization of what actually happened. The EU didn't seized anything but gave a bailout of 10 billions euros at the demand of the cypriot

That's a gross mischaracterization of what actually happened. The EU didn't seized anything but gave a bailout of 10 billions euros at the demand of the cypriot governement and asked that in return the second largest bank be closed and uninsured deposit over 100k€ (and 48% of them in the largest bank) used as a one time levy. Most of this money belonged to foreigner using cyprus as a tax haven. Those who lost 3 millions in the process were given a 7 millions discount on buying the cypriot citizenship. see here: https://en.wikipedia.org/wiki/2012%E2%80%9313_Cypriot_financial_crisis https://en.wikipedia.org/wiki/2012%E2%80%9313_Cypriot_financ... But now let's provide some context here, the EU had to bailout Cyprus as a consequence of the US subprime mortgage crisis. So the EU had to clean up the mess made by the US. Though I do agree there are some rotten things on the financial side of the EU, mainly the IMF and the ECB but also that countries have to pay for the private debt of banks. But this is not so different from the rest of the world and other central banks. Though quite scaled down it's not so far from the 700 billion bailout of banks in the US and the ECB and other central banks and federal reserve buying 2.5 trillion of government debt and bank asset the largest such move ever while EU and US government were injecting 1.5 trillion in their major banks.