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

Joe WeisenthalMar 26, 2013, 17:06 IST

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.