Not long after the Cyrpus”bail-in” happened markets were spooked when Dutch finance minister Jeroen Dijsselbloem (a.k.a Diesel-BOOM or just D-Boom for short) called it “a template” for future rescue actions.

Notwithstanding that in recent days ECB head Mario Draghi has backed away from the “bail-in as template” position, the “template” seems to have already found its way across the pond – to Canada and popped up in the proposed budget  (PDF) in an innocuous sounding paragraph on page 155:…