“The government of Cyprus, the Bank of Cyprus and international lenders have come to an agreement that will recapitalize the bank and allow it to remain solvent: all depositors at the bank will have 47.5% of all funds above the deposit insurance threshold of $100,000 seized to pay for the bank’s bad debts. Since the original depositor bail-in plan was announced in March, the idea has been very warmly received by governments around the world. The governments of Japan, Canada, the European Union, Switzerland, Australia and New Zealand have all endorsed or taken preliminary steps toward potentially implementing similar plans if necessary in their own countries.”

http://bitcoinmagazine.com/cyprus-depositor-bail-in-set-at-47-5/

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