Eurogroup Chief Makes Hilarious Excuse For His Cyprus Comment Yesterday That Caused Markets To Dive

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.

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.

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