, Columnist
Yes, Cyprus Is Different
One lesson from the Cyprus bailout debacle is that in the eyes of its fellow European Union members, Cyprus really is different.
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One lesson from the Cyprus bailout debacle is that it really is different. Not so much because its economic case is unique, but because Cyprus's fellow European Union members see it as an outlier.
This is the EU's third smallest nation with only 1.1 million people. It joined as recently as 2004, with the help of a little blackmail from its patron Greece, which threatened to block the extension of the bloc to Poland and other ex-Soviet countries unless Cyprus got in too.