Never underestimate the capacity of the Eurozone to shoot itself in both feet. "Breath-taking," "Staggering," "Bewildering." Just some of the adjectives we could use to describe the latest Eurozone fiasco where the troika -- made up of the European Commission, the European Central Bank and the International Monetary Fund -- has managed to snatch defeat from the jaws of victory. The decision to "bail-in" depositors in Cyprus -- to make ordinary people pay for the mistakes of the banks -- is extraordinary. Nothing like this was done in Greece, Portugal or Ireland. Why, oh why, it should be up to the Cypriots to test drive this dangerous and maverick policy remains unknown.
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The money of German housewives should not bail out Russian oligarchs, writes Quest
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Quest: Taxing deposits under €100,000 at over 6% is effectively punishing the Cypriot people
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Quest: The Eurozone has shown it is better at creating crises than confronting them
At all levels, for depositors, future foreign investors and @placeholder policy, the decision on tiny Cyprus is going to have huge ramifications.