are deposit accounts anymore safe after yesterdays stress test results & govt changes

[maccs]

Do the results of today's stress tests, make opening up a fixed term deposit account in BoI, anymore or less secure??

Or is it still more advisable to open a fixed deposit account in a UK based bank operating in Ireland such as Ulster Bank or Nationwide UK in terms of greater deposit security in terms of government bank guarantees??

 

[aristotle]

I feel the whole approach of ploughing money into the banks is gone beyond the point of no return i.e. they are safe now. If a bank should have failed it should have failed back in 2008 or 2009. At this stage I can't see a reason to let one fail and have depositors get burnt.

 

[horusd]

I feel the whole approach of ploughing money into the banks is gone beyond the point of no return i.e. they are safe now. If a bank should have failed it should have failed back in 2008 or 2009. At this stage I can't see a reason to let one fail and have depositors get burnt.

Dunno about that, just heard Prof. Ray Kinsella of UCD say that 70 big ones mightn't be enough. Jeez, if that kind of money isn't enough what is? I think we have fundemental policy failure across the Eurozone. Looks like we're still kicking the can down the road.

 

[aristotle]

Yeah I agree on that, it will probably be 100 billion, thats been mentioned by a lot of commentators.

But why let banks fail and have massive economic problems after ploughing in 70bn. They may as well ensure it doesn't happen now and just restructure the Irish debt in a way that protects the banks.