“Cyprus a Template For EU”

25 Mar

And probably the US…

A Word Out Of Place Sends Europe Tumbling

…wasn’t it a special case, inside a unique case, wrapped in a one-time case? We will ignore the rather hilarious Freudian slip, and focus on what he was explicitly talking about with Reuters, which is the resolution model which was just put in place in Cyprus:

And now, every European depositor is going to their local financial dictionary to look up the definition of General Unsecured Claims, only to see a picture of… themselves.

Coming to a Bank near you…

Zero Hedge

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