Well, for one thing, inflation doesn't cause bank runs. Even if you suppose that inflation is really an asset tax, this tax in Cyprus has just been evaded by anyone who's been keeping their money stuffed under the mattress.
Greece, Italy, Spain, etc. will now be lucky if they don't themselves start having a problem with bank runs. Arguably it won't happen elsewhere, but who can say for sure?
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Well, for one thing, inflation doesn't cause bank runs. Even if you suppose that inflation is really an asset tax, this tax in Cyprus has just been evaded by anyone who's been keeping their money stuffed under the mattress.
Greece, Italy, Spain, etc. will now be lucky if they don't themselves start having a problem with bank runs. Arguably it won't happen elsewhere, but who can say for sure?