Clients warned of Irish bank deposits risks

Financial advisers are warning clients against keeping cash in Irish banks after European finance ministers decided to include large depositors in future bank bail-ins.

29th June, 2013

Financial advisers are warning clients against keeping cash in Irish banks after European finance ministers decided to include large depositors in future bank bail-ins.

They are telling individuals with cash holdings of more than €100,000 - the maximum insurable amount under the European deposit guarantee directive - to move their money to highly rated foreign banks, to divide it between institutions or invest it in liquid safe assets such as German bunds.

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