Irish CB gov and ECB gov council member Patrick Honohan says the Cyprus bail in of depositors was a one off.
I think what happened in Cyprus certainly will not happen in any other country. It was certainly an unusual process that we observed.
Upon being questioned on how the bailout was handled he remarked;
I would have done things differently myself
So despite the depositor bail in condition being in UK banking law since 2009, Canadian budget proposals 2013 and Dodd Frank regulations, it’s still not a template?
Righto
