“Making bank depositors bear some of the cost” of the bailout — in plain English, confiscating the private property of person A by person B to pay person C — has been “taboo.” But “officials,” i.e., the unelected, unaccountable Eurocrats in Brussels, have decided there is no other way to save Cyrpus for the eurozone. But take heart: “European officials said it would not set a precedent.”
Query: just how stupid do they think we are?