Can the Gov force Foreign Currency Deposit a/c in Irl be converted to Euro or Punt?

[galleryman]

I am thinking about opening a Stg£ or $ deposit a/c with ptsb to cover the risk of Irl leaving the Euro.

Is there any way that the Irl Gov could force the banks to either convert my foreign currency a/c to Euro and then to Punt Nua or directly to Punt Nua if we left the Euro?

Am I fooling myself thinking that I could still hold £ or $ if Ireland left the Euro?

I don't see the benefit to the state in wiping away personal wealth in such a move, but there is no logic to many decisions made recently.

 

[Lightning]

It is possible, that EUR savings will be converted into 'An Punt Nua', if Ireland does leave the Euro.

I would find it highly improbable that USD, GBP savings etc, in the state, would be converted into 'An Punt Nua'.

 

[hippy1975]

If a foreign ccy acc is held with an Irish Bank though, is it at the same risk if we default / leave the Euro of posisbly deposits being seized ? Does anyone think that's likely ? I thought we could rule that out once the IMF came in but now I'm not so sure, would it be necessary to open a GBP Acc in the UK in order to be safe from that risk ? (while still, I understand, at risk with FXF rate and weak GBP)

 

[galleryman]

We won't get all the IMF money at once. It is conditional and reviewed every quarter. If we don't deliver on the austerity measures agreed for each target we may not get the next installment of IMF cash.