CYPRUS

It's a done deal.  Cyprus has been "saved" from bankruptcy.  Poof!

Cyprus is the size of Vermont.  Forbes calls it "smidgen-sized" in their ARTICLE:
Cyprus Bailout-Everything You Need to Know Before the Opening Bell.  

If Cyprus represents only .2% of the European Union's monetary worth...then what's the big deal?

It's a big deal because we worry that Cyprus is the first domino.

Cypriots are furious because of yesterday's deal.  The European partners agreed to bail out Cyprus if Cyprus puts skin in the game.  So the agreement was to seize money from large depositer's bank accounts.

Well, it's just from the rich.  It doesn't matter.  They can afford it.

Listen, America.  This is such a picture book for us.  Government with dipping rights is a force to be reckoned with.  What if YOU waked up to find as much as 40% of your assets gone?  The cutoff was $130k.  Below that amount and your money was put into a "good" bank; above that, you go into a "bad" bank...where depositors and bond-holders may recover little or none of their money.

Sadly, Cyprus' problem is not just their bailout through seized assets.  What caused the problem in the first place?  Why are they in that hole?  Why isn't THAT problem being addressed?

If Europe passes all those utopian work weeks/benefits (on the assumption that people are entitled), then are the people entitled to feel the results?  Is there REALLY such a lack of understanding of basic economic feasibility?  Or are they petulant children?  We all get it that everyone shuffles their feet while no one wants to end up with the check.  But someone at the table gets the short stick.

So take careful watch, America.  When our government (and unions) demand unrealistic regulations and bargains, who is at the head of our table?  The states?  If California can't pay the ridiculous things they've agreed upon, then who gets the check?  Arkansas has a balanced budget law which has kept us out of the red.  Shall we pay for California?  Is responsible stewardship repaid by bankrolling a spendthrift?  Does anyone side with a trust fund kid who has run through "Daddy's money"?  No.  No one.

Grow up, Cyprus.  Grow up, Europe.  Grow up, America.