Economics
In the News
Guaranteed bank deposits and the market for lemons
8th July 2015
One aspect of the Greek crisis which will affect many readers is the reduction in the amount of cash in a bank deposit which is protected. The Bank of England announced that the current guaranteed amount of £85,000 will be cut to £75,000 on 1 January. This has led to predictable outrage, with Andrew Tyrie MP, who chairs the Treasury Select Committee with distinction, being one of the leaders of the attacks.
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