BERLIN, March 28 German Finance Minister
Wolfgang Schaeuble said on Thursday Cyprus was a very special
case and the European Union had found the right solution for it
with its deal for a 10 billion euro ($12.78 billion) bailout
tied to the imposition of losses on bank depositors.
"Cyprus was a very special case, everyone knew that,"
Schaeuble told SWR radio. "And we found the right solution."
Schaeuble also said Luxembourg had a totally different
business model to the east Mediterranean island which is due to
reopen its banks later on Thursday almost two weeks after they
were shut. Any comparison of the two would be "absurd", he said.