Comment: They should default

What German government is doing wrong is putting German taxpayers and currency holders at risk by bailing them out at all to save the people who took the risk from the consequences. It's the Germans who should be really upset.

What people are actually upset about is rather confused. If anyone is going to lend them more money they certainly should ask for assurances. Asset forfeiture is not the way to go about it though.

Cyprus should default forthwith. If they cannot stop spending then they need to inflate or float sovereign bonds at market interest rates. Private investors should take risks with their own capital.

The Cypriots can't blame Germany or anyone else.