Government raises guarantees for bank deposits guarantees up to 50,000 Euros

The government on Tuesday raised guarantees for bank deposits of up to 50,000 euros. Until now, clients’ savings accounts have been insured up to 25,000 euros, which is in line with the country’s banking law from 2001. Meeting in Luxembourg last week, EU ministers made a pledge to raise bank deposit guarantees across Europe, in order to renew confidence in banks hit by the crisis.