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In the wake of the run on Northern Rock mortgage branches, the government will increase depositors' coverage to £35,000 ...Read the full article
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Edward Sweet from toronto, Canada writes: Raising the amount of deposit insurance a couple of thousand dollars is a lame way to protect the public. Deposit insurance means people can put their money in riskier institutions without fear of losing their deposits. This does not protect the financial system.
- Posted 30/09/07 at 10:25 PM EST | Alert an Editor | Link to Comment
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Gordon Murray from Canada writes: Maybe comparable Canadian deposit insurance ($100,000CAD? cdic.ca ) suggests and such exchange rate (GBP v. CAD) as found on "wiki for Canadian_dollar" can together suggest an international country comparison index.
If 2.03 CAD to GBP and 35,000GBP of deposit insurance to 100,000CAD, then maybe Britain has moved to .7 compared to Canada.- Posted 01/10/07 at 12:18 PM EST | Alert an Editor | Link to Comment
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