The Cypriot Government have rejected the outrageous demands of the EU and now the 27 billion euros deposited in Cypriot banks by people like the oligarchs of Russia is under threat.
Now that is huge finance. The piddling amounts that British squaddies have in their current accounts pale into insignificance when compared with the investments of the Russian Oligarchs. They control international finance and under the terms of the EU deal that they suggested they would lose an enormous amount and Russia will not allow that.
Who in the EU really thought that this would happen? Frau Merkel is under pressure at home from the Germans. They actually want to go back to the German mark and they are the only beneficiaries of the euro 'experiment'. All the other countries had their economies destroyed.
The European Union has destroyed every economy in the western Europenanmworld