it's crazy. >> it does. one of the big stories moving markets around the world is the banking crisis brewing in europe. we're talking about cypress here. they need a bailout, not the first european country to do it, but people there are fuming because this rescue plan could cost them as much as 10% of the money they've got in the bank. >> so the plan is even shaking the markets here in the united states. want to bring in richard quest out of london and alison kosik in new york. richard, start with you here. you know, cyprus, very small, small country. but people say this is really the cayman islands, if you will, of europe for investors particularly russian investors. so what does this mean? >> well, the actual importance of cyprus to the eurozone, it is less than half a point, tsz minuscule. however, the way they have decided to bailout cyprus is revolutionary. they have said that all people with deposits in the bank will be taxed on them.