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Some EU citizens rushed to withdraw their savings during the financial crisis (Photo: Trois Têtes)

EU pushes plans to protect bank deposits

In an attempt to boost consumer confidence and end "bank runs" - destabilising mass withdrawals that once again raised their head during the recent financial crisis - the European Commission has come forward with proposals to step up the protection of bank deposits.

The package of plans presented on Monday (12 July) by European commissioner for internal market and financial services, Michel Barnier, also aims to protect investors from Bernie-Madoff-style fraud events, by reforming cur...

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Some EU citizens rushed to withdraw their savings during the financial crisis (Photo: Trois Têtes)

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