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That didn't sound right, so I checked Wikipedia which says
Germany EUR 50,000 (*) (coverage) 90% (Valid since) July 2009 Additional voluntary guarantee schemes run by different banking associations (private banks, cooperative banks, savings banks). An unlimited state guarantee was announced in October 2008 (and extended in July 2009), if one of those schemes failed. The legal details are nevertheless unclear.
EUR 50,000 (*)
(coverage) 90%
(Valid since) July 2009
Additional voluntary guarantee schemes run by different banking associations (private banks, cooperative banks, savings banks). An unlimited state guarantee was announced in October 2008 (and extended in July 2009), if one of those schemes failed. The legal details are nevertheless unclear.
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