Monday 18th March 2013

(11 years, 8 months ago)

Commons Chamber
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Jacob Rees-Mogg Portrait Jacob Rees-Mogg (North East Somerset) (Con)
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As the EU has now arbitrarily abandoned its £85,000 deposit insurance scheme, what advice would my right hon. Friend give British subjects in other European countries, such as Ireland, Portugal, Spain, Greece and Italy, whose deposits might also be at risk in future? Would it be best for them to repatriate their funds?

Greg Clark Portrait Greg Clark
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The ECB made a clear statement today that the situation in Cyprus is unique, and I think that a study of the situation there would confirm that.