Markets tanked in Europe yesterday after Dutch Finance Minister and Eurogroup Chief Jeroen Dijsselbloem said that Cyprus could be used as a template for future bank resolutions.
Suddenly markets got spooked. Wasn’t Cyprus supposed to be a one off?
Later in the day the Eurogroup had to put out a statement saying that Cyprus was unique.
Anyway, Dijsselbloem made a funny excuse yesterday on Dutch TV.
On Dutch TV last night: “Dijselbloem said he didn’t even know the English word “template” so he maintains he couldn’t have used it”.
— Faisal Islam (@faisalislam) March 26, 2013
For what it’s worth, looking at the various reports it doesn’t look like he himself used the word “template” but rather he described what a template is.
NOW WATCH: Money & Markets videos
Business Insider Emails & Alerts
Site highlights each day to your inbox.