The BBC wrote [1] on the 18th: > "Reports have suggested that eurozone leaders, particularly in Germany, insisted on the levy because of the large amount of Ru

The BBC wrote [1] on the 18th: > "Reports have suggested that eurozone leaders, particularly in Germany, insisted on the levy because of the large amount of Russian capital kept in Cypriot banks, amid fears of money-laundering. However, German Finance Minister Wolfgang Schaeuble said he and the International Monetary Fund had been in favour of "respecting the deposit guarantee for accounts up to 100,000" euros." So to me it sounds more like the Cypriot government initially tried to put more of a burden on small deposits but now agreed to do it the way the EU always wanted. [1] http://www.bbc.co.uk/news/world-europe-21825981 http://www.bbc.co.uk/news/world-europe-21825981