I guarantee there are people stupid enough to try this here (updated)

Specifically, Cyprus will impose a levy of 6.75% on deposits of less than €100,000 - the ceiling for European Union account insurance, which is now effectively gone following this case study - and 9.9% above that. The measures will raise €5.8 billion, Dutch Finance Minister Jeroen Dijsselbloem, who leads the group of euro-area ministers, said.
Translation: "We need money, so we're going to steal some of your savings.  What, you believed us when we said they were safe?
...The logical question: why here, and why now? And what happens when the Cypriot bank run that has taken the country by storm this morning spreads everywhere else, now that the scab over Europe's biggest festering wound is torn throughout the periphery as all the other PIIGS realize they too are expendable on the altar of mollifying voters and investors in the other countries that make up Europe's disunion.
You already know what'll happen: lots of people will decide to take most or all of their money out of the bank.  And we'll watch their economies do amazing things.  All bad.

The European Central Bank will use its existing facilities to make funds available to Cypriot banks as needed to counter potential bank runs. Depositors will receive bank equity as compensation.
'Potential'?  They're already going on, started soon as people got the word.  And they'll consider 'bank equity' to be worthless.

As a general rule, ANYTHING they decide that has to be done in the dark of night(like that crap law in New Effing York) they're doing because they know it's bad, and the effect will BE bad.  And for some reason they think people being extra-pissed at being dark-of-nighted won't be a problem.

Update:
Italy wants to go down the toilet, too.
"A tax rate of 15% on financial assets would probably be enough to push the Italian government debt to below the critical level of 100% of gross domestic product." So there you have it, the 'new deal' in Europe, as we warned, is 'wealth taxes' and testing the "capacity of Cypriots" appears to be the strawman on what the public will take before social unrest becomes intolerable.
So if some Cypriot and EU politicians wind up dead, Italy might not do this?
Might be a bargain.