Why are we receiving this error when trying to edit our Message Templates?

Environment:

CX Console, All product versions

Issue:

When trying to edit any message template, the below error appears and the template cannot be correctly updated by the agent.

"text" is an unexpected token. The expected token is "" or '". Line 5, position 14.

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Resolution:

The error occurs because the Global Template does not have a 'Content Placeholder' configured. To resolve this, check the Global Template and add the Content Placeholder. Upon making the change, deploy and save the template.

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  Expand for a screenshot of the 'Content Placeholder'