Robert Siegel talks to Joseph Cotterill, writer for the Financial Times, about what may happen if the European Union's bailout plan for Cyprus succeeds and which country may be poised to take on the role as the next Cayman Islands of Eastern Europe.

You'd be free to leave the state, as long as you left your money behind. That's essentially what it's like now for people in Cyprus.

The $13 billion bailout has some tough conditions. It is aimed at shoring up the island nation's banking sector and making sure its problems don't spread to other nations. But many Cypriots think their creditors have other intentions.