That guarantee is clearly a dead letter in the case of Cyprus anyway, because there's no way that their government can make good on that promise in the face of multiple large bank collapses.
That's where the EU steps in, or rather: was supposed to step in.
We were promised that our small savings accounts (<100k) are safe under all circumstances.
This came with the implied assumption that when shit hits the fan, they will shave what they need from the big accounts (>100k). Because those did either benefit from the gambling or can at least afford a lawsuit to recover some of their funds.
That promise was broken today. Many people will be very, very unhappy.
That's where the EU steps in, or rather: was supposed to step in.
We were promised that our small savings accounts (<100k) are safe under all circumstances.
This came with the implied assumption that when shit hits the fan, they will shave what they need from the big accounts (>100k). Because those did either benefit from the gambling or can at least afford a lawsuit to recover some of their funds.
That promise was broken today. Many people will be very, very unhappy.