A lot has changed since then.so you would be relying on either the ECB stepping in if it’s a country in the EURO or in this instance you’d have to hope the Irish government would make good on a potential shortfall on the deposit guarantee fund.
Which sounds a lot but that €42billion is what, about a third of the deposits just in Ireland. How much cash is there in total in the banking system that is meant to be covered by these guarantees ?A lot has changed since then.
The EU now has a fund of about €60bn to deal with a bank resolution where the national deposit guarantee scheme isn't enough.
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