While you were sleeping Cyprus' unpalatable precedent

Mon, 25 Mar 2013

By Margreet Dietz March 26 (BusinessDesk) - Initial optimism over the agreement on a financial rescue for Cyprus turned to concern about the increased exposure of investors and depositors to banking losses in the euro zone. Following earlier EU assurances that the Cyprus model of taxing depositors to help fund the nation's bailout would not be applied elsewhere, Eurogroup president Jeroen Dijsselbloem today told Reuters and the Financial Times that it could provide a template for dealing with bank trouble elsewhere. Under the Cyprus 10-billi...

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