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"Money deposited in European banks, such as Icesave and ING direct, is also protected but only up to the level determined by the deposit-guarantee scheme in each bank's home country. If the amount protected is less than £35,000, savers can claim the balance from the FSCS but only if their bank has paid a “top up” to the UK system - which most of the big European banks operating in the UK, including Icesave and ING Direct, have done. The UK operations of banks based outside the EU, such as ICICI of India and FirstSave of Nigeria, are regulated by the Financial Services Authority so deposits up to £35,000 are protected in full by the FSCS.

Some questions have been raised about the ability of some European countries' deposit protection schemes to cope should the worst happen. That is a legitimate concern but the risk must be seen in perspective. Jingoism is not a profitable policy to pursue with savings."

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  • 399 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?

      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%

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