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Each EU country has its own guarantee scheme.
Until Northern Rock, the UK was probably the most lousy of all: only 2k£ fully covered, then a 10% haircut up to 30k£, then barenaked.

Most EMU countries have a simple cap at 20k€.

France has a cap at 70k€, I think it's the highest in the EMU. It doesn't need changing I think (and actually sarko has only done talktalktalk, no actual legislation or decree has passed that would raise the cap).

Pierre

by Pierre on Thu Oct 2nd, 2008 at 08:42:59 AM EST
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Irish Times:

Britain still does not have a comprehensive system of deposit insurance for retail depositors, let alone some temporary guarantee for wholesale depositors as announced yesterday in Ireland

So this PR is a truly about legitimizing insurance for brokered deposits and €400B is estimated flow of money markets through these banks?

Diversity is the key to economic and political evolution.

by Cat on Thu Oct 2nd, 2008 at 09:26:16 AM EST
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