News Summary: Cyprus crisis threatens EU role

News Summary: Cyprus financial crisis threatens EU role, legitimacy as island turns to Russia

Associated Press

BACK IN THE USSR: The financial crisis in Cyprus has exposed the eurozone's growing frustration and dwindling solidarity as the embattled island rejects an EU bailout and turns to Russia for help.

NEIN!: Germany remains the biggest hurdle to a quick fix, as government officials have little sympathy for a country seen as a haven for tax evasion and the ill-gotten gains of shady Russian oligarchs.

STICKING POINT: Resentment from the EU toward Cyprus has compounded the crisis, analysts say, referring to the island's refusal to budge in long-running negotiations to find a political solution for the breakaway Turkish north of the island, which Nicosia refuses to recognize.

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