So.......imagine the ramifications if Cyprus goes bust, is kicked out of the Euro and is bailed out by Russia. In exchange it leaves the EU and instead joins the CIS so coming under Russian political control.
That would give Russia control of the airfields and ports, of the gas fields around Cyprus and would enable basing in the eastern Med of Russian warships and aircraft, putting both the canal and Dardanelles at risk.
The Sovereign bases could also come under pressure.
It would be quite a shrewd political-military move by Russia, and I can't help wondering if some allies within the Cypriot and EU heirerarchy have somehow helped to contrive the situation.