While I would probably have the same reaction if I was living in Cyprus, important points are missing here. The way I understand it: Cyprus failed to control t

While I would probably have the same reaction if I was living in Cyprus, important points are missing here. The way I understand it: Cyprus failed to control their economy and required the help from the European Union. In order to lent them a crazy amount of money, they wanted some guarantee. They could not provide anything, so their government had to use the peoples money to pay for the governments previously bad judgement about not saving up for bad times.