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    One and the same thing, Howard, 6 of one, or half a dozen of the other.
    The confiscation - it's not a tax here - was decided in order to get any bailout from the EU.
    Without the bailout of 17 billion euro, the two biggest Cypriot banks would have gone bankrupt, so it is in reality much worse than many think.

    The sum needed was 17 billion euro, this was the bailout request. The EU said they'd supply (lend) 10 billion, and the rest must come from a confiscation from bank accounts.
    Otherwise the EU would have given (lent) no money at all to Cyprus.

    Not to forget, Cyprus must repay the 10 billion euro bailout with the interest.

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