Coveney: Cypriot-style raid on savings will never happen here

A Cypriot-style raid on bank savings will never happen in Ireland, ministers have insisted.

Opposition parties greeted the pledge with scepticism as they accused the Government of undermining Ireland’s bid to get a bank debt write-down by agreeing to the initial Cypriot move to impose a levy on savers.

Standing in for the Taoiseach at Leaders’ Questions in the Dáil, Agriculture Minister Simon Coveney promised a Cypriot-style levy would not be attempted in Ireland under any circumstances.