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Greece introduces Irish-style bank deposit guarantee
Friday, 3 October 2008
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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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Congratulations to Ireland and Greece. At least two countries who try to save something for the "little man". Hopefully those two will also dig into the "bank mess" in their country and re-organize the managements accordingly
Posted by bravo | 04.10.08, 11:40 GMT
Greece’s unlimited deposit guarantee a “political commitment”
Greece has no plan for law blanket bank deposit guarantee.
Posted by nik | 03.10.08, 12:24 GMT