Situation in Cyprus, its banking sector "unique" -ECB's Asmussen
BERLIN, March 18
BERLIN, March 18 (Reuters) - The situation of Cyprus and the country's banking sector is unique, European Central Bank board member Joerg Asmussen said on Monday, responding to fears that depositors in other countries could also be asked to take a hit.
"I do believe that the situation of Cyprus and the Cypriot banking sector is indeed unique," Asmussen told a panel discussion.
The euro zone struck a deal on Saturday to hand Cyprus a bailout worth 10 billion euros but demanded depositors in its banks forfeit some money to stave off bankruptcy despite the risk of a wider bank run.
- Exclusive: Malaysia plane probe narrows on mid-air disintegration - source
- Radar showed missing plane may have turned back: Malaysia military
- Missing Malaysian jet may have disintegrated in mid-air: source |
- Malaysian plane presumed crashed; questions over false IDs |
- Merkel raps Putin as Russian forces tighten grip on Crimea |