You probably know the story by now.

Following riots in the streets and a run on local banks, Cypriot lawmakers voted down a key element of the European Central Bank's (ECB) bailout proposal that would have required the country to impose a one-time 9.9% tax on bank deposits of more than 100,000 euros and a 6.75% tax on bank deposits under that amount.

I can understand why people took to the street – the "tax" was little more than organized robbery under the guise of keeping that country afloat.

Why should you care about what happens in Cyprus?…

Cyprus is not Las Vegas. What happens in Cyprus cannot possibly stay in Cyprus. The world's financial markets are too interlinked. Ultimately, it is a move intended to keep the euro afloat at any cost.