The eurozone wobbles from crisis to crisis, but the recent demand by eurozone finance ministers, that Cypriots should pay up to 10 per cent of their savings in return for the planned 10 billion euro bailout, have justly raised eyebrows on both sides of the pond. Obliging a government to take funds from citizens bank accounts, from people who – unlike their leaders – have acted responsibly by saving up for a rainy day, is lunacy. The plan to raid citizens’ savings accounts is indicative of the willingness by many European politicians to hold the fragile house of cards together at any cost. In search for their perfect European utopia these politicians seem to be willing to sacrifice the personal and individual freedoms of their constituents. At least one thing seems to be certain; the single currency exists because of the political fervour emanating from Brussels. Europeans do not need the euro, but their representatives do. The Cyprus-issue affected the markets and during early Monday trading the euro slipped to $1.2888, its lowest point since December.