It's been a day of proclamations of 'uniqueness' as more officials state Cyprus is unique and not in any way analogous to their own country. At ZeroHedge, they're not so convinced. Bank assets are high in other countries:
The good news this morning is that we already know which country is going down next. That country is Luxembourg. We know this because the Foreign Minister of Luxembourg, Jean Asselborn, told Reuters yesterday that "Germany does not have the right to decide on the business model for other countries in the EU. It must not be the case that under the cover of financially technical issues other countries are choked." Now Luxembourg is not so far different than Cyprus. They have a large financial sector, a lenient tax structure and a lot of foreign money. They have just also spoken out again the ubermeisters in Berlin which is not permitted under the EU treaty somewhere I am sure.
Portugal repeats Cyprus is unique case. Don't worry, we heard you the first 329 times— zerohedge (@zerohedge) March 27, 2013
Special, unique, if we need one for every country we may need to get the dictionary out— Steve Collins (@TradeDesk_Steve) March 27, 2013