Cyprus - a few numbers

So the German claim is that Cyprus is in this mess due to its own mistakes. Here are a few numbers to think about:

• 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

So one can safely assume that something was wrong with Caprus' businessmodel as Schäuble has. The first error was joining the Eurozone, the second was trusting that the Greek bailout would work, and the third was taking part in EFSF and ESM.
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.