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.
- Scots vote on independence, United Kingdom's fate on knife-edge |
- Australian PM says police raids follow IS linked beheading plot |
- Chinese hacked U.S. military contractors: Senate panel
- China not warlike, says Xi, as border standoff dominates India trip
- IMF warns of risks from 'excessive' financial market bets