A brand new looting arrangement has been reached concerning Cypriot banks. It involves seizing the funds of all accounts over 100,000 euros, then stealing up to 40% of those funds sometime over the next few weeks, or whenever EU bureaucrats get around to deciding exactly how much to steal.
So instead of 10% being stolen from most accounts, as was originally proposed, the new deal is that 40% will be stolen from selected accounts, but not from accounts holding less than 100,000 euros. Why the 100,000 threshold for having your money stolen by the banking system? Because all EU bank accounts are insured up to 100,000 euros. So the banksters figured they could just steal anything over 100,000 and say, “Heh, it wasn’t insured, your loss!”