>And here is the scary thing exposed - what happened in Cyprus is going to be "the new template" for how to handle these events:
>
>http://www.businessinsider.com/dijsselbloem-cyprus-deal-is-a-template-2013-3

It seems like another step towards banking being a country on its own. The stability fund and ECB "taking over all the banks by mid-2014", cutting out ties with "weak governments"... will, IMO, mean even less transparency. We won't know what the banks are doing. Now we know only when it's too late, and even then we know only what we need to know, which is "banks must survive or else everything else will fall".

The governments are already largely irrelevant, now they'll be completely out of the loop and the bankers will invent and vanish money as they like.