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Cyprus ruins: 'The change makes it politically more feasible to deal with struggling economies which are too big to bail out, such as France' (Photo: jnocca93)

Cypriot deal is welcome change to EU approach

In the wake of the bailout/half bail-in that is the Cyprus rescue package, Eurogroup chairman Jeroen Dijsselbloem said last week the EU is now "going down the bail-in track."

He later clarified his remarks to say Cyprus is a "specific case."

But despite his caution, the developments signal a welcome change from the EU's handling of the euro-crisis so far, in which the Union turned itself into a piggy bank for insolvent banks and governments.

Dispelling the myth that Brussels...

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The views expressed in this opinion piece are the author’s, not those of EUobserver

Author Bio

Andrew Rettman is EUobserver's foreign editor, writing about foreign and security issues since 2005. He is Polish, but grew up in the UK, and lives in Brussels. He has also written for The Guardian, The Times of London, and Intelligence Online.

Cyprus ruins: 'The change makes it politically more feasible to deal with struggling economies which are too big to bail out, such as France' (Photo: jnocca93)

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Author Bio

Andrew Rettman is EUobserver's foreign editor, writing about foreign and security issues since 2005. He is Polish, but grew up in the UK, and lives in Brussels. He has also written for The Guardian, The Times of London, and Intelligence Online.

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