From Tom Essaye - "The European Union (EU) leaders granted Cyprus a bailout over the weekend. But in an unprecedented step they required a one-time tax on checking and savings accounts held by citizens and businesses in Cyprus in return for the bailout. In order to understand why EU leaders made these demands, it’s important to first realize that Cyprus is a very popular tax haven for European, and particularly Russian, investors and corporations. Nearly one-third of all deposits in Cyprus are controlled by Cyprus-based, Russian-owned banks.

What’s more, last year €120 billion from Russia was “invested” in Cyprus, and nearly €130 billion was transferred from Cyprus back to Russia. This is nearly seven times Cyprus’ GDP, which is only about €17 billion. Cyprus has very lax financial control laws, and as a result many believe it is the money laundering capital of Europe (which those figures just mentioned would support)"

So this is really why the EU couldn't very well go to the Euro countries to bail out little Cyprus, and the actual citizens are only responsible for 1/7th of their problem. Anyone with money in the bank is probably in the upper income range so I doubt that fishermen like us would be effected, and probably the money launder group would be the hardest hit.