According to the European Commission, deposits up to 100.000 euros will be guaranteed in all state-members of the European Union. More specifically, in case a European bank bankrupts, each and every depositor will be compensated in one week! The French commissioner-designate for the internal market and services, Michel Barnier, presented a proposal aimed to reassure the citizens, the companies as well as the markets in whole. They note that the risk of a “banking panic” is high when many depositors attempt to withdraw their money at the same moment.
This measure is adapted by every country, from the moment the fiscal crisis began in Europe in 2008-2009, but this proposal is now renovated as it applies only for one year. Barnier’s proposal makes this regulation permanent and constant.
“Today in Europe there are over 40 systems for the compensation of the depositors. Our intetion is to harmonize them under the commitment that the guaranteed level of compensation will be the 100.000 euros and that this measure will be applied no matter the currency.”, underlined Mr. Barnier.
The Greek bankers think that the measure is absolutely perfect, and underline that in Greece the depositors are already safe by law. Parallel, they note that the Greek banking system has been proved really strong( something that Troika confirms as well), despite the recent fiscal crisis.
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