Large depositors hit as Cyprus secures 10 billion euro bailout

Cyprus manages to secure a 10 billion euro bailout from the European Central Bank, the European Commission and the IMF, by agreeing to wind down its second-largest bank, Laiki, and shifting deposits below 100,000 euros to the Bank of Cyprus to create a "good bank". Experts, Sanjiv Shah, director of Sun Global Investments Limited; Stephen Pope, managing partner with Spotlight Ideas; Sampath Iyengar, managing principal at Iyengar Ventures (USA/India); Jay Shankar, independent economist and political strategist; Ranjan Dhawan, executive director at Bank of Baroda, and Patrick Foulis, India business & finance editor at The Economist, explain what precedent has this new bailout set for the European Union and what will be its impact on other peripheral countries in Europe.