I am curious to know *how* the Irish government can guarantee these deposits as it has a higher per capita national debt than the UK does? Backdoor subsidy from the ECB - ie the Germans bailing them out?

Paul, Coventry,

Superb move. No-one pulls their deposits out, banks carry on doing what they should have done for decades, take deposits and lend to those that can pay on time. No need for bail outs, a pre-emptive strike and a lesson to the rest of the banking world. Well done Ireland.

Phil, Abu Dhabi, UAE

would this have so much coverage if another "euro" country did the same - doubtful - if bankers gambling is legal I'm a leprechaun!

Seaneen, london,

I would have thought it was obvious that none of these guarantees are worth anything The whole principle of the banking system is that they haven't got your money ; its been lent to somebody else, apart from a small reserve which has probably been"invested" in worthless toxic assets.

Steve Blencowe, Northampton,

At last the British have to acknowledge that the Irish are smarter and quicker on the draw than they are.

Brian P O Cinneide, eThekwini, Afrika Borwa

I don't even know whether the £35000 uk scheme covers accrued interest payment or not, such is the vagueness of our financial & political masters. Any offers of an answer?

jon, bristol, uk

Dear Banana Banker. How is it unfair?
Its only unfair because it puts your bank at disadvantage... boo hoo! So its fair for a bank to get state aid to prop it up, but the innocent savers should lose anything over £35K? This sort of comment is why majority have no sympathy for the banking world!

Brendan, Newport, UK

At least Ireland is offering some guarantees/protection for businesses.
Theres been much talk of 35k guarantee in UK for personal savers - but there is no protection offered for limited companies with money in the bank.
I can see lots of businesses switching if UK doesn't come up with something!

shelley, chippenham, uk

Brillantly played! To offer the guarantee guarantees that they will not have to use it since all cash will be flowing to their coffers!!
Instead of sulking the British should join the euro and offer the same guarantee!!

antoine, London, uk

We assume that Irish banks have not taken on toxic debt . How do we know that? Irish reserves are only sufficient to cover half of the exposure of one of the three largest banks if a bailout were needed. With Ireland in the Euro, it cannot print more money nor alter interest rates unilaterally.

Elizabeth, Manchester,

Time the UK got with the programme. The ad hoc approach of the Lab goverment is reactionary rather than being pro active,Lloyds , once a bastion of conservatism,is now coming under pressure because of its proposed takeover of HBOS. Shareholder value in UK instiutions are being eroded daily. Act now.

Colm, London, UK

Well done Ireland. A sensible decison. Our beloved leader Gordon will be forced to offer the same guarantee in the UK to raise interest rates to finance his massive govt borrowing and attract capital. Otherise money world wide will be heading to Ireland. Also going to be interesting how EU fares

Rupert, London, UK

Add the deposit guarantee to the irish lower business tax rate, and Ireland may come through this flying.

Marie, Tipperary, Ireland

An elegant solution, implemented with speed. The Irish Govt are not taking over the toxic loans. They are providing insurance at a cost to the banks, they are not taking any responsibility for large corporate or property loans. They should be commended for not sitting on their hands. Terry Dublin

terry macmanus, dublin, ireland

This is a smart and common sense decision by Ireland being in the euro and therefore linked to the ECB means it has a fallback scenario which the UK does not have, all in all the perfect calming measure for now when its really needed and inspires confidence now and for the future ,well done Ireland

Eric, London , UK

It's also a disgrace that individuals pay lower taxes and companies pay lower corporation taxes in Ireland - but it's a different country so it can do what it wants. In the UK we would be voting for reducing taxation - if only there was a credible party offering it to us..

Mark, London , UK

£317 Billion is a lot of money for a small country like Ireland. The Irish Govt must be on its hands and knees praying that they dont have to fulfil this guarantee otherwise we will be seeing a bankrupt Ireland.

Samir Hassan, Glasgow, UK

One big confidence trick! Ireland cannot pay out on default. It would only take Bank of Ireland to go and with E200bn of assets and Irish GDP at E187bn they would be in big trouble. So before you take your cash to Ireland understand the numbers do not stack up. You could be more at risk!

Chris, London, UK

Why would people think this "is this the end of the Euro" and that Irsihmen should "pull your Euros out while you can?"

Tom, Co Meath,

To "Austin Peckham, Victoria, B.C., Canada." AIB doesn't haev big exposure to toxic securities. Their operations in Eastern Europe are enormously strong. Of course, the housing market in Ireland is a bit of a concern but overall, the future looks positive.

Kris, Bristol,

Instead of Bankers squabbling with governments over deposit guarantees, they should guaranteeing all deposits themselves.

Louis , Liverpool, UK

The end of the euro.

debra smith, london,

irishmen, pull your euros out while you still can!

eric, cavan,

Why put your money in the trust of such a small economy? An economy that is highly dependent on outside influences for its credibility. The Celtic tiger is a myth.

Cuthbert, Perth,

At last a bit of real leadership. Brian Cowan has got this one right..

colette, dublin, ireland

Why would the Irish Government be immune from the global melt-down that everyone else is experiencing? What crap...they're blowing off a lot of hot air with their ridiculous deposit "guarantee".

Austin Peckham, Victoria, B.C., Canada

B cowen is the man, what a plan, now with all the rest of the european banks crying out for cash, the irish banks will be flush with green. Just when we thought all jobs were gone now we are back in the game,WELCOME TO THE NEW SWITZERLAND.

Bloody Brillant

mary Lee, pottersbar,

Physical gold and silver for safety.

Serpens, Turgu, Finland

The Irish government cannot afford this on its own. So through the back door we have Brussels meddling in our fnancial system.

D.L. Stephens, York, England

Here here. This should have been ages ago. Its a better route than nationalisation but there will have to be a number of limitations on the Bill that reflect that its a short term measure for exceptional times.

Martin , Dublin, Ireland

Ireland had to take the lead, where is the little French Fellow and the rest of Europe?

Equity holder can still loose if they have made bad loans, this just give the banks the ability to carry on operations and borrow to continue operations.

No credit crunch, no need to be lender of last resort.

Alex, Dublin, Irelan