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Europe's Bank Guarantees

Countries across Europe have moved to reassure banking customers by guaranteeing deposits. Fear of runs on banks prompted some account holders to take their money overseas to foreign banks, protected by government pledges, or simply opt for the relative safety of keeping funds out of institutions.» »

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Bank Guarantees

European finance ministers moved to reassure banking customers by agreeing to raise the threshold for bank-deposit guarantees to 50,000 euros ($67,930), from the current level of 20,000 euros, Reuters reported. The move comes after some countries promised unlimited protection for savings, for fear of bank runs.

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