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The voice of S2 I suspect. Interesting to note that now your and my savings (real money as opposed to the billions of imaginary 'money' they are tipping into the top-down end), are to be offered less risk because Ireland (nation states) must conform and act in a non competitive manner ... there are huge fundamental issues here if we care to look. I suspect many are starting to open their eyes and look ... and act. Now, is that viable?

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Story: http://news.bbc.co.uk/2/hi/business/7648027.stm)


French Finance Minister Christine Lagarde has become the latest European politician to criticise the Republic of Ireland's bank guarantee move.


With Ireland due to pass a law safeguarding all deposits in its six largest banks, Ms Lagarde said other nations should have had advance notice.

. . .

There have been complaints that Dublin's move gives its banks an unfair advantage over foreign competitors because it makes them more attractive to nervous investors.

. . . .


"Because when something happens in one member state it affects everybody else around, so there needs to be that level of cross-sharing of information," she added.

European Union Competition Commissioner Neelie Kroes said on Wednesday that she urged national governments "not to act unilaterally".

"It is a must," she said.



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