The View From The Bridge


How I learned to stop worrying…

A headline last week asked if we should be worried about the banks. There have been relatively few times when worrying about the banks has not been in vogue, but now is not one of them. The cap on UK deposit protection was reduced last year to £75,000 per account, to reflect the strength of sterling as the EU wide bank deposit protection scheme is set at €100,000. Given sterling’s current weakness, it may well have to go back up again! On top of that we are now in a position where any future bank failures, across the EU, will be dealt with by way of a bail in, not…