Has TROIKA been unfair to Cyprus?

Was Cyprus treated unfairly? Apparently, this view has a lot of supporters these days:

One argument on this is based on the upcoming elections in Germany:
http://hadjioannou.wordpress.com/2013/04/29/the-cyprus-affair-as-a-victim-of-the-german-election-period/

This article below blames the lack of a banking union and a single euro area bank deposit guarantee scheme, along with a fully fledged ‘lender-of-last-resort’ function.

Would a Euro Area Banking Union Have Saved Cyprus?

I agree. Politics might have played a role in this crisis. However, I think it is safe to say that the mistakes of Cyprus have had its fair share in this mess.

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