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So now after years of being told that you should save money for your old age, your retirement, the EU has decided to pilot a scheme in a tiny island that allows the government to steal up to 10% of whatever savings over 100,000 euros you might have been able to accumulate. 6.7% if less than 100,000. How can that be legal anywhere in the civilised world? And why would anybody EVER deposit their money in a bank if this goes ahead. And if it goes ahead in Cyprus, when for other, bigger EU countries? PS: So, the UK government will underwrite it for members of the diplomatic corps (i.e. a few fat cats probably most of whom have all their cash stashed in Switzerland or Jersey), and military personnel (as if your normal squaddie is likely to have 100,000 euros saved up and deposited in a Cyprus bank!). In contrast, not a word about protecting the tens of thousands of Brit ex-pats living in Cyprus and who are more likely to have such savings there. Not that I think the government should protect their foreign savings, but it's a cheap publicity stunt to claim that they'll protect the savings of some chosen people, when in fact they know that it'll cost them virtually nothing at all.