Eurogroup Head Says He Did Not Say What He Said
That thing Diesel-BOOM very, very clearly said earlier? He did not say it. After all, can't have the market getting any ideas that reality may be slowly coming back to the basket case that is Europe:
- EU DIJSSELBLOEM SPOKESWOMAN: DIJSSELBLOEM DIDN'T SAY CYPRUS A TEMPLATE FOR BANK RESTRUCTURINGS - DOW JONES
So not only are European depositors still impairable, because sadly Dijsselbloem was dead serious in his Reuters interview, but the new Eurogroup head pulled a Juncker and confirmed "it is serious" in the process losing all credibility too.
To summarize Diesel-BOOM: "If the market is red, you have to lie."
Forget Risk-On-Risk-Off, it's Template-On-Template-Off now...
His subsequent official clarifying remarks on the Eurogroup's website:
Statement by the Eurogroup President on Cyprus
25/03/2013 - Statement
Cyprus is a specific case with exceptional challenges which required the bail-in measures we have agreed upon yesterday.
Macro-economic adjustment programmes are tailor-made to the situation of the country concerned and no models or templates are used.