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However, I understand that only 20k euro is covered by the German equivalent of the FDIC,

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.

So maybe 20.000 is covered 100% and anything above that only 90%?
by gk (gk (gk quattro due due sette @gmail.com)) on Wed Mar 24th, 2010 at 07:12:03 AM EST

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