Romania's Finance Ministry plans to raise deposit guarantee limit to EUR 50,000
Publish date: 09-10-2008Romania's Economy and Finance Ministry (MEF) wants to guarantee bank deposits in the limit of 50,000 euros, up from 20,000 euros at present, the country's prime minister Calin Popescu Tariceanu announced.
Over 95 percent of deposits are currently covered by the 20,000 euro threshold.
"We will take measures to harmonize the Romanian legislation with the decision made yesterday by the European Union (EU) regarding deposit guarantees," Tariceanu said.
The EU finance ministers agreed on October 7 to hike the minimum guaranteed level for bank deposits of the population from 20,000 euros to 50,000 euros, in case banks go bankrupt.
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