Dutch Finance Minister Jeroen Dijsselbloem (leader of Eurogroup Finance Ministers) helped tank the markets midday when he said that the Cypriot plan was a "template" for Europe.
What does that mean? It seems to mean that if a bank needs to recapitalize, it should go first to bondholders and shareholders, then to uninsured deposit holders...before they consider a bailout from the Troika (ECB/IMF/EU).
In other words, he is implying that uninsured deposit holders may now routinely be hit before any bailout, or at least at the same time as a bailout.