Market participants continue to debate the precedent set by Cyprus' rescue, which included a bail-in by uninsured depositors. While some investors were caught off-guard, others say the bail-in was to be expected. "Cyprus was not a surprise," Fiona Macnab of Goldman Sachs Asset Management said at an AFME meeting in London. "Although bail-in is not due until 2019, we all knew there would be failures before 2019 -- resolution regimes have been proposed, and the pathway is clear."
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