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That the protected smaller depositors are hit too seems to be mostly the fault of the cypriot government

If our only source here is Schäuble, what he said was:

Germany would have protected insured deposits: Schaeuble | Reuters

"But those who did not want a bail-in were the Cypriot government, also the European Commission and the ECB, they decided on this solution and they now must explain this to the Cypriot people."

And considering it was ECB that set the time table on this, they are a far more important player. So even if we believe Schäuble here, reducing his list to the cypriot government is not very accurate.

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by A swedish kind of death on Mon Mar 18th, 2013 at 02:59:06 PM EST
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