[ameister14]

He really only gave two arguments. One, that it is easier to implement, and two, that it spread the burden to foreigners.

I don't actually think this is easier to implement. Perhaps faster. In the long run, however, this is the hard way to go.

As to spreading the burden to foreigners, that's only a good thing if you're not a foreigner and you don't plan on doing business with foreigners in Cyprus.

If you are a wealthy man who has his fortune elsewhere, this is still not a good plan, because there is potential for personal repercussions.