Whatever the bailout decision, Cyprus crisis sets many precedents for EU

Lawyers have a saying that hard cases make bad law. Whatever happens on a bailout for Cyprus will set precedents for the euro zone's future banking union, investor confidence in the single currency area and political relations among European states.

With Cyprus facing a deadline today to avert a collapse of its banking system and potential exit from the euro, President Nicos Anastasiades was in Brussels yesterday for crisis talks with the island's international creditors.

via Business feed http://www.scmp.com/news/world/article/1199008/whatever-bailout-decision-cyprus-crisis-sets-many-precedents-eu