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  Imagine the anger in Ireland if an Irish Bank goes bust and British investors get paid compensation by Irish taxpayers.
  
  What people must remember if they put money in an Irish Bank, is currency risk. That can only be avoided if they use a sterling denominated account but take care, the interest rate may be worse and it is possible that these are excluded from the compensation package by the small print (which I have clearly not seen).
  
  People should not panic, just make sure that no more than £50,000 is with any single deposit taking institution (take care over groups). National Savings accounts can be used if people are very worried, but the interest rate is low and below inflation returns can be expected, so your money will fall in value. NS Certificates can also be used up to the limit of £15,000 per issue, the index linked certs offer 1% above inflation but you should not encash them early.
  
  The point is this. There is no such thing as being totally risk free with money. There are only different types of risk. You minimise risk and maximise opportunity through good diversification. Diversification can mean many things and is much more than spreading your money around.
  
  If you really are worried, just get some good advice. Make sure it is fee based because there are still many commission only sharks out there who are facing the lowest business levels for 20 years and could be desperate. Getting advice is the best thing you can do.

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