Monday November 23, 2020

Dutch finance minister causes market concern over Cyprus 'precedent'

Comments by Dutch finance minister alarm markets.

25th March, 2013
Markets spooked by warning by Dutch finance minister Jeroen Dijsselbloem that losses imposed on bondholders and big depositors in Cyprus could be repeated elsewhere when banks get into trouble.

Bank shares fell sharply across the eurozone this afternoon after Dutch finance minister Jeroen Dijsselbloem said the rescue programme for Cyprus could provide a template for fixing other bank problems across Europe.

Dijsselbloem, who heads the eurogroup of finance ministers, shocked the markets by indicating that the losses imposed on bondholders and big depositors in Cyprus could be repeated elsewhere when banks get into trouble.

"What we've done last night is what I call pushing...

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