Dijsselbloem Spokesperson Confirms Comments

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Stocks Sell Off on Fears Cypress May Become 'Template' for Future Bailouts

March 25, 2013 11:43 AM EDT

Initial enthusiasm surrounding the Cypress bailout deal turned to pessimism Monday after comments from a European Finance Minister sparked widespread fears across the EU that depositors cash can be used as a piggy bank to cover the risks of bad banks and overspending governments.

Specifically, Dutch Finance Minister Jeroen Dijsselbloem called the Cyprus deal a... More