1. a) What is the eurozone?
b) What do the eurozone's finance ministers want those who hold savings accounts in Cyprus to do? Be specific.
c) Why does Cyprus need a loan from the eurozone? (See "Background" below the questions for a more detailed explanation)

2. Cypriots had been assured that savings accounts would be safe. How are savings holders reacting to Saturday's announcement?

3. How is the Cypriot government attempting to change the percentages of the levy?

4. What will happen if the parliament of Cyprus fails to pass the proposal to take a percentage of people's savings?

5. a) How will the government compensate those who have had money taken from their savings accounts by the government?
b) Instead of forcibly taking money from all savings accounts, should the government have tried to offer this compensation to the eurozone? Explain your answer.

6. From para. 12-14: "Making bank depositors bear some of the costs of a bailout had been taboo in Europe, but euro zone officials said it was the only way to salvage Cyprus's financial sector. European officials said it would not set a precedent. In Spain, one of four other states getting euro zone help and seen as a possible candidate for a sovereign rescue, officials were quick to say Cyprus was a unique case. A Bank of Spain spokesman said there had been no sign of depositors withdrawing their savings in that country."
Would you feel secure hearing assurances from eurozone officials that Cyprus would not set a precedent (establish a pattern for how things will be done in the future) for other countries in the eurozone? Explain your answer.

7. a) Do you think confiscation of private funds by the government to pay off our ever increasing enormous debt could ever happen in the U.S.? Explain your answer.
b) Ask a parent the same question.