PARIS – French President Francois Hollande said on Tuesday that guarantees on bank deposits was an "irrevocable" principle and the Cyprus case was exceptional.
"The guarantee of bank deposits must be an absolute and irrevocable principle," Hollande said at a news conference with Spanish Prime Minister Mariano Rajoy.
He added that the Cyprus was a "specific, unique and exceptional case."
Eurogroup head Jeroen Dijsselboem's asserted on Monday that the Cyprus bailout represented a new model for resolving banking crises in the bloc.
(Reporting By Elizabeth pineau and Julien Ponthus; writing by John Irish; editing by Ron Askew)