Outgoing Eurogroup head says bail-in was only solution

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Outgoing Eurogroup head says bail-in was only...
 © CyprusMail 2017
As the situation shaped out in March 2013, the bail-in of depositors was the only remaining viable solution to save the banking system in Cyprus, outgoing Eurogroup President Jeroen Dijsselbloem said on Thursday.

“You need to realize that otherwise, a bailout of the banks and the full protection of deposits, would have completely bankrupted Cyprus,” the Dutch politician stated.

He was responding to a question about the deposits haircut posed by Cypriot MEP Costas Mavrides at the European Parliament’s finance committee.

Tracing the background to the bail-in, Dijsselbloem said that...


Outgoing Eurogroup head says bail-in was only solution


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