Ireland guarantees bank deposits for two years

Six financial institutions will be covered by the guarantee, which lasts until September 2010. Allied Irish Bank, Bank of Ireland, Anglo Irish Bank, Irish Life and Permanent, Irish Nationwide Building Society and the Educational Building Society will all be eligible for the scheme. The country’s central bank and financial regulator advised the Government to take action after some bank shares fell by more than 25% on Monday. In a statement released today, the Irish Government says: “The decision has been taken by Government to remove any uncertainty on the part of counterparties and cu...