Germany Guarantees Deposits
Published / Last Updated on 05/10/2008
Germany announced yesterday that it will guarantee all private German Bank Accounts following fears of large scale cash withdrawals and switches to other countries that are guaranteeing deposits.
This follows announcements by Ireland a few days ago to do the same and the UK announcing that with effect Tuesday (tomorrow), the UK will guarantee private deposits up to £50,000.
This move in Germany follows the German Government bail out of the property and banking giant, Hypo Real Estate late last week.
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