Cyprus Bank Confiscation to Spread to Spain and Italy ?

Cyprus Bailout Crisis Shakes Investors : The tiny island of Cyprus sets off big scare with plans to set off the rule of law. they want to tax all bank depositors large and small to pay for a bailout. of course we are in trouble. if nothing happens, optimism runs the show. Cyprus is the money ground for dirty money from Russia and other rogue nations. the government of Cyprus is scared to death of insulting Vladimir Putin.

CNBC's Michelle Caruso-Cabrera reports for the first time ever in the European crisis, portions of bank accounts will be seized in order to pay for a bailout; and Charles Dallara, Americas of Partners Group weighs in.