Bos: EU will give savers more protection

A European Union guarantee for bank saving accounts will cover more funds than the €38,000 per saver currently guaranteed in the Netherlands, Tuesday’s Volkskrant reports finance minister Wouter Bos as saying.

Bos told the paper the guarantee may also apply to business accounts.
EU finance ministers, including Bos, met in Luxembourg yesterday evening and are today expected to announce plans to safeguard savings at European banks.
The guarantee is expected will cover between €40,000 and €100,000 for each savings account, according to sources in Brussels, the paper says.
A uniform ruling for the whole of the EU would end ‘the race to the top’, whereby savers are moving their deposits to member states with better guarantees than in their own countries, Bos was quoted as saying.