Estonia shouldn't pay for banks' mistakes

Juhan Tere

Economic adviser of Estonia's Prime Minister Andrus Ansip – Aare Järvan, said state should not cover banks' wrong decisions in case if crisis, similar to the current one suffered by US, would happen in Estonia, the Baltic business News Channel reported via Aripaev.ee.

"Never say never ! But what concerns our depositors, deposits up to 20,000 euro are guaranteed, and it's quite a large amount. It's the first thing depositors should know.

And, as to whether the state should pay for a bank's wrong decision, I'd rather say it should not. But history has shown all kinds if situations. There is no definite answer," Järvan said.

He added that US crisis has certainly affected Europe, but it's too soon to tell where it all might go.