Sparkassen system could serve rural Ireland

The German Sparkassen public banking system is regarded as a major success, although it could be argued that the cultural and political mores of the Germans might not be easily replicated in this country.

The Sparkasse (this is the German singular of the plural, Sparkassen) is owned publicly by a municipality or local authority.

A special-purpose body is set up to oversee the bank which renders it an economically independent financial institution.