- ESM participitation Cyprus: € 1.3 Billion
- Bank of Cyprus hit by Greek haircut: € 1.3 Billion
- Cyprus Popular bank hit by Greek haircut: € 2.0 Billion
- EFSF participitation: € 1.5 Billion
Of course the banking sector is also far too big, but as Icelend shows, the winding down can be handled IF you have your own currency.
So currently the island is planning to make one more mistake: believing that a bailout of Cyprus would work any better, than the other failed "rescues" suggest. They should agree if they want:
- 25 % unemployment
- a never ending depression
- 50 % youth unemployment
- more failed bailouts with ever increasing pain to the citizens
They should leave the Euro if they want any chance of things getting better, anytime soon.