March 18, 2013 / 9:46 AM / 5 years ago

Situation in Cyprus, its banking sector "unique" -ECB's Asmussen

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.

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