Originally Posted by MaDalton

let me play devils advocate:

Cyprus banks piled up huge amounts of money because the government made the country a tax haven for companies all over the world.

Many European countries lost tax revenue because of that.

Now Cyprus figures it doesn't have enough money to operate and comes to those countries they've been flipping off earlier when they demanded tax reforms and more transparency and asks them to save them.

Of course the rest of the EU uses the chance to get rid of this loophole.

And they also take money from those individuals/companies that went to Cyprus to avoid paying taxes in their home countries