FINANCIAL advisors are seeing a huge rise in calls from worried clients who fear that they could lose their savings if banks go bust.

And it is claimed that Irish banks in the Island are also seeing a rise in calls from savers following the news that the Irish government has guaranteed 100 per cent of people’s savings and will prevent banks from going under.

Gordon Bennie, marketing director of Oracle Financial Services (pictured), said: ‘A lot of Islanders are quite rightly concerned about the lack of security for their local bank-based savings and will be realising that they are not subject to Gordon Brown’s guarantees, as we are not part of the UK. The Irish government have guaranteed all deposits in all their banks, so our local Irish subsidiaries are effectively as safe as the Irish government, which is reassuring.’

Banks suffered this week after savers in Britain and Ireland withdrew money from UK banks and poured it into Irish banks which have the State guarantee. The Irish Independent reported that Anglo-Irish banks saw a steady stream of money being deposited following the guarantee move.’