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Greece introduces Irish-style bank deposit guarantee
Friday, 3 October 2008
The Greek Government has followed Ireland's lead by providing a state guarantee to underpin all bank deposits in the country.
The move comes amid disagreement among EU politicians over whether a Europe-wide approach would be a better way to tackle the current financial crisis.
Today, the head of the European Central Bank called for European unity in responding to the crisis.
The European Commission is set to investigate whether actions by individual member states to protect banks from collapse could break EU competition rules.
Since the Irish move, cash has been flowing into the Republic's banks from the UK.
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