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    The Cypriots have a depositor protection scheme for the first E100,000 and yet people with under that sum have had 6.75% stolen from their accounts Tom.

    So where is your argument now about the alternative loss of 100% then?

    They would not lose anything at all if their Cypriot banks went down.

    The wrongs of QE do not make this right either. You always want to justify bullying government action. Well said Jan - there are some dreadful consequences of this foolish action.

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