Deposits are safe in banks, insists Taoiseach

TAOISEACH Brian Cowen has sought to reassure people that deposits in the country’s banks are secure as talks continue about a possible bailout of the sector.

In a statement on the issue in the Dáil, Mr Cowen said he wanted to “reiterate the strength of the Government’s commitment to safeguarding deposits in the Irish banking system in view of the recent ill-informed and inaccurate speculation by a small number of external analysts and commentators on this issue”.

Customers’ deposits are currently protected by two separate, but complimentary, schemes.