On the surface, the Cyprus crisis was about money, but actually it was the result of conflicting political cultures: European, Greek Cypriot and Russian. The fissures exposed during the March 2013 crisis will leave a legacy of mistrust and enmity far beyond the eastern Mediterranean island that staged the drama. The underlying problem was that Europe had accepted a non-European entity (Cyprus) into its institutions and then failed to enforce upon it Europe’s standards of financial governance. Russian money became fuel for the catastrophe, but was not itself the cause. Money laundering and bank insolvency are both deplorable but are not the same thing.

The financial crisis in Cyprus is, among other things, a stress test in relations between Europe and Russia. Thus far, neither has performed very well.

Relations between Washington and Moscow are currently in a sterile phase, and are likely to remain so for the foreseeable future. Europeans, on the other hand, like to claim they are much more effective in understanding and managing the Russians. But are they?

Gulf states focus on THAAD; What's next for Israel after Iron Dome; New battlefield laser in the works; Pyongyang helps Damascus to arm...; ...while China aids North Korea's missile gains

Everyone knows Europe faces the potential for Greek financial collapse, with serious ramifications for the euro zone and its financial institutions. Less discussed is the Greek impact on another key European institution, the less restrictive border regime instituted under the Schengen Treaty, and the danger of failure of constitutional democracy in an EU member state.

Additional funding for Israel's iron dome; NATO readies missile shield; Pakistan takes aim with new cruise missile; Taiwan's new missiles aimed at PRC; Turkey courts missile defense suitors

Rights council resigns en masse;
Former finance minister: economic problems on the horizon

Italian prosecutors have now detained the former head of the Vatican’s bank after searching his home and former office for suspected criminal behavior. Catholics and followers of the Holy See will be disappointed to learn that the Vatican’s bank appears to be embroiled in yet another financial scandal.

 Abbas' new ally; China's growing ties with Uzbekistan and other central Asian nations; Israel excluded from U.S. counterterrorism forum; The dissolution of Egypt's lower house; Erdogan: a modern-day sultan?

NATO, Moscow up the ante in missile defense row;