Savers should be encouraged to spead the risk, and not put all their eggs in one basket.
This is prudent not only for individuals but also for national governments.
It would make more sense to guarantee deposits upto £100K in each unrelated bank or building society.

Peter Hooper, Windsor, UK

Gordon Brown should do the same & quickly. Not just up to £35k for private individuals but to guarantee all deposits for private or business accounts, without limits or conditions. It's a simple solution that would demonstrate confidence that the banks still have our money. Or is that the problem?

Phil, Northampton,

Ireland have placed an unlimited guarantee on the banks private deposits as large money was being taken out. I strongly suggest the British Banks do the same! A run will be a disaster for everyone and confidence too.

Pedro, London, UK

OF COURSE all our savings should be protected. Well done the forward-thinking Irish. The fact that the Government is dawdling over increasing to even £50k is worrying in the extreme, it seems they just aren't sure they can cover even that.

David, St Albans, UK

Uh, Passan. I think so. 97% of savers have less than 35k on deposit, hence 97% are fuly protected. The other 3% have more than 35k. e.g. if you had just sold your house and had say 100k on deposit ,you would be in the 3% and would only receive the first 35k back in the event of a failure.

Derek, Cape Town, SA

I've already started to move money out of my nest-egg retirement account into Anglo Irish as a result of UK mergers which have pushed me over the derisory £35,000 per Bank.

Gordon needs to increase this limit to at least £70,000, just to cover the forced mergers.
It's a nest-egg !

cap, london, UK

J Jenkins
France is going to do it too.
If they call us in on this Ireland will not just belong to the UK but everyone in the world will own a part of it. I hope (i do believe) they know what they are doing.

Brian, Dublin, Ireland

If the current guarantee covers 97%, what's the big deal about extending it to the other 3%?

Or have i not understood this properly/

Pasan, London,

Our government needs to act quickly now just transferred funds from UK bank to Anglo Irish much better deal.

LM, Lincolnshire,

An unlimited guarantee from Irelands Government is surely an unlimited risk for Irelands tax payers. Are the banks themselves even able to quantify the "rubbish" they hold and their exposure to the turmoil of a seized up housing market and building industry.Lets not rush to emulate this risky move.

Iain MacDonald, Inverness, Scotland

I do not believe that the Irish government has anywhere near the cash to actually fulfill this promise should things actually deteriorate any further - and theres a good chance they will.

And lets not kid ourselves that Gordon Brown has GBP891bn going spare either.

David J, London, UK

£250,000 protection limit would seem sensible, but I doubt if our honoured leaders, who caused this mess, could organise a bus stop.

Chris, London,

to liam from bedfordshire-ireland is not a part of the uk

kevin, shannon, ireland

Liam - "UK mainland"? As opposed to where else in th UK? Precisely what does that mean?

Andrew, Douglas, Isle of Man

ALL savings should be guaranteed, also reducing the tax rate on savings will encourage more people to deposit their hard earn cash in this country rather than going "Off shore" etc.

John, London,

Completely agree with the sentiments here: UK govt should act at once to reassure savers. An obvious vote-winner quite apart from the logic and ethical obligation.
TP, France

thomson prentice, Divonne Les Bains, France

The Irish must be testing the patience of the EU - first they kick out the Constitution, then they unilaterally guarantee all EURO deposits in their banks.

I'd love to be a fly on the wall when Sarkozy and Trichet next meet!

J Jenkins, York,

Savings must be protected. Why have a limit at all, it's the gambling investors and brokers that need not be protected. At minimum this regulation must be taken on board in the UK. Savers must never ever be penalised for saving for their future.

All stock market investments = Gambling

Tony, London, UK

This is the most sensible thing I have seen in the last 6months where fear and rumour are creating termoil in the financial sector

Gordon Brown, should wake up and see that he could improve liquidity in the system by one simple step.

If not money will be moving across the sea to safer havens

Vaughn Thomas, Cambridge, UK

Funny how this is not being picked-up on UK mainland. Seems we will all be banking in Ireland by the end of the week !!

Liam, Bedfordshire, uk

I strongly suggest Gordon Brown does the same before we have an unstoppable run on the main UK banks. He needs to act NOW.

Pedro, London, UK

I strongly suggest Gordon Brown does the same before we have an unstoppable run on the main UK banks. He needs to act NOW.

Pedro, London, UK