'Cyprus precedent set, will be repeated in bleeding Europe, America' (VIDEO)

The richest in Cyprus were warned about the future banking theft of their savings so they were able to pull their money out in time.






Enough is enough for the Cypriot finance minister - Michalis Sarris has handed in his notice, after securing the 10-billion-euro bailout that will see savers in two major banks pay the bill. The finger-pointing's far from over though - as the island tries to establish who's to blame for the country's economic meltdown.

Financial journalist Clem Chambers believes other Eurozone countries will follow the sad example of Cyprus.