State Savings Versus Bank deposits

[backofnet]

I am not sure if this is a valid question but I am just wondering if State Savings are more or less safe then Bank deposits if something was to happen the Euro or Ireland was to default. The background to this question is that I am thinking of opening a State Savings account (3 year savings Bonds). Thanks

 

[Lightning]

State Savings are invested directly in the Irish national debt and has the same level of protection of sovereign debt. Hence, greater risk, with sovereign default, than bank deposits.