Cyprus in crisis.

I'm following the Cyprus issue and kind of perplexed as to why such a policy of taxing bank depositor's money was actually thought of and put on the table for the Cypriots to implement. At the moment the opposing sides; those for and those against seem to be making compelling arguments on their sides. Therefore the debate should regress back to the philosophical foundations of both sides. I think the strengths of both sides will then be weighed. I will post my views on the subject in the near future.