D
doodlem
Guest
Hi, sometime ago I received an inheritance of 300k. I hope to buy my first house at the end of the year. The money is spread across 5 deposit accounts, AIB, Ulster Bank, Rabodirect, Northern Rock and NIB with none surpassing the relevant guarantee scheme in each case.
However I am now worried about 2 events:
1. The Irish government will not be able to borrow to meet liabilities and my accounts in Irish banks will no longer be safe as the government will be insolvent and they will default on the guarantee scheme. To circumvent this I plan to move money from my Irish accounts (AIB and Ulster bank) to others such as Rabo, Northern Rock and NIB. Does this make sense?
2. I am concerned regarding the speculation that Ireland will leave the Euro (or be ejected) and the possibility that my capital will be devalued if held in Irish banks (as we would float a new devalued currency). However, if it remains in a euro account in a bank not regulated in Ireland would I get to retain this account in Euro? There is a lot of talk that the government would have the power to freeze accounts to prevent money leaving the country in the event of the staging in of a new currency, could they freeze an account held in a foreign bank such as Rabo, Northern Rock or NIB as they are not directly Irish banks?
Can anyone offer any advice? ...Thanks
However I am now worried about 2 events:
1. The Irish government will not be able to borrow to meet liabilities and my accounts in Irish banks will no longer be safe as the government will be insolvent and they will default on the guarantee scheme. To circumvent this I plan to move money from my Irish accounts (AIB and Ulster bank) to others such as Rabo, Northern Rock and NIB. Does this make sense?
2. I am concerned regarding the speculation that Ireland will leave the Euro (or be ejected) and the possibility that my capital will be devalued if held in Irish banks (as we would float a new devalued currency). However, if it remains in a euro account in a bank not regulated in Ireland would I get to retain this account in Euro? There is a lot of talk that the government would have the power to freeze accounts to prevent money leaving the country in the event of the staging in of a new currency, could they freeze an account held in a foreign bank such as Rabo, Northern Rock or NIB as they are not directly Irish banks?
Can anyone offer any advice? ...Thanks