A sense of proportion - Majority may pay for sins of minority

Cypriot banks reopened after nearly two weeks yesterday and, thankfully, none of the feared street violence or chaos in banks materialised.

Thousands of Cypriots queued calmly and did their business within the pretty tight limits agreed — withdrawals of up to €300 a day only — to secure the €10bn EU bailout. It was unlikely that they were happy with the situation, but pragmatism and a sense of proportion prevailed.

It would be reassuring to believe that we would behave in the same calm way if we were in such a very difficult position, but that may be overly optimistic. Though we have not taken to the streets, violently at least, in the last five years it is unlikely that such an intrusion into personal bank accounts would be greeted as calmly as tax increases and pay cuts have been. We might not have stayed as calm as the Cypriots did yesterday, or retained the sense of proportion so essential and stabilising at life’s challenging moments. Indeed, recent events suggest we have, on some issues at least, lost the kind of rational perspective needed to get through this world without going prematurely grey.