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Irish bank guarantee extended

Ireland has extended a scheme which guarantees deposits at its banks.

The Eligible Liabilities Guarantee Scheme will now run until at least the end of 2012, although it's subject to European Union state aid approval every six months.

Minister for Finance Michael Noonan announced the extension earlier this week.

The scheme, first set up in late 2009, covers institutions including Bank of Ireland, AIB, Anglo Irish Bank, and Irish Nationwide Isle of Man.

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