European policy makers sought to reassure investors on Tuesday that the €10bn bailout of Cyprus would not provide a “template” for future rescues should the eurozone crisis deepen.
Ewald Nowotny, European Central Bank governing council member, said Cyprus was a special case and the rescue plan used to bail out the country should not serve as a model for other countries in the eurozone.
His views were echoed by Benoît Coeuré, ECB executive board member, who said the experience of Cyprus was not a blueprint for the rest of the eurozone because the situation there reached a level that did not exist elsewhere.
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