Socialism is a Cancer; Whatever you want to call it, socialism, liberalism, deadbeatism, more idling by longtime idlers, unions blackmailing their employers, too many government unproductive civil servants, arab springs, democracy by rule of guns in Syria, and Greece and now Cyprus failures: it all amounts to this:
If the people of any given country are not working and producing meaningful work, then their government cannot spend money they don't have; and so then you get these financial crisis.
Cyprus is yet another example of the potential of the world economy to falter, maybe falter badly.
You can't expect that China, Japan, South Korea, Taiwan, Germany, Norway, Canada, Austrailia and 4/5 of USA (the other 1/5 are deadbeats and rappers) to carry the rest of the world on its shoulders.
I sure don't see it as a stimulus to oil and gas prices in Canada.