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Economy minister calls for deposits of over 100,000 euros to be given protection
14 May 2013 @ 23:17

Spanish Economy Minister Luis de Guindos on Tuesday proposed that Europe should provide protection for deposits of more than 100,000 euros in the event of bank failures, arguing that the current guarantee limit of 100,000 euros is “artificial.”

Speaking to reporters in Brussels after a meeting of European finance and economy ministers, De Guindos said that guaranteeing bank deposits of 100,000 euros or less is not in doubt, but that there are moves to reach agreement providing protection for amounts of over 100,000 euros as well, in the case of exceptional circumstances and based on very strict rules.

“We have to send a very clear message: that deposits are adequately protected,” De Guindos said.

Read the full article at el Pais in English



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