Savings protection debate goes on

Jersey politicians are continuing to debate how to protect local people's savings and help islanders maintain confidence in the local economy.

Senior politicians began discussions about savings protection last week.

Ministers will decide how the scheme will work, including where the money to guarantee savings will come from.

Chief Minister Frank Walker said that under the proposals the full amount of people's savings would be guaranteed if a bank collapsed.

But he added that he was confident the island's banking system was strong enough for the system not to have to go fully into operation.

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