Amor Fati? Europe wounded after the Cyprus Imbroglio

For the past two weeks, we have been witnessing a fierce diplomatic game with Cyprus at the epicenter of a geopolitical vortex threatening European solidarity. The Cyprus case offered the ideal testing ground on which some of the key players of the European economic crisis stretched their muscles and tried out new ideas such as the bailing-in of uninsured depositors – not an option before the Cypriot crisis. At the same time, Nicosia and by default the debtor countries of the European South got a flavor of their limited diplomatic clout and a hard to miss warning about what may lie ahead if things get worse. Is this another crisis Europe can muddle through? Or does it inaugurate an era of dangerous instability due to irreconcilable interests between the Eurozone’s ‘haves’ and ‘have-nots’ in the absence of political skills to mitigate its consequences?