Where are you planning on living that you won't have any money in Irish Currency if it did happen?
Just wondering, why do you think this would be a problem? Would the State freeze offshore Euro accounts or stop Euros being convertered to new punts so that you wouldn't be able to get new punts on which to live? I think that would be conterproductive for the state as it would stop new, stronger currency coming into the country - but I could be wrong on that.
Also, would it be the case that opening an account with a bank that is regulated by a financial regulator other than our own mean that the funds in that account would not be subject to the regulations of the Irish financial regulator? I.e. if the Irish financial regulator decides that all Euros held by Irish people are now punts, he/she would then need need multi-lateral agreements with other Financial regulators so that funds held by people with Irish addresses are automatically converted into punts. I'm unfortunately not an expert, but I've never heard of such an outcome. Would be interested to know if there's any preceedent for it.
In Agentina, the State put a stop on accounts holding US dollars and essentially used these accounts to dig itself out of the hole it was in. However, I think these were accounts which were controlled by the Argentian financial regulator and not offshore accounts.
... this could cause a huge degree of resentment among the general popolouce due to what could be seen as a form of war profiteering and potentially result in a high degree of social breakdown , in light of this possibility , i wouldnt be surprised if those ( irish citizens ) trying to sneak back money into the country found themselves being forced to make a 1:1 exchange from euro to the punt nua or whatever currency is adopted
I'm with Rabbo at the moment too (120K) but looking at diversifying the risk, with the difficulties in the Euro zone and right here at home., i myself had a lot of money in northern ireland but ive brought a large amount of it back and stuck it in rabbo direct , i feel that while rabbo account would not be shielded from a currency change , in the event of a default , they would be much safer than some of the insolvent banks , ive also started buying more gold , have 15 k already and intend to buy another 20 k this week , i realise i might not make any money out of it but its a pretty good insurance policy IMO for the next year , what with greece on the brink of going to the wall and the powers that be seemingly at sixes and sevens as to what to do about it
Hi Farmette, would you consider UB as one of these insolvent banks? Are they not 85% guaranteed by the UK Govt though?
Any opionion on which of UB, Barclays and HSBC in Northern Ireland are the better option in terms of security?
Yes, but if gold falls back to 1100 it will be an even better buy.
you can also fall back on the fact that if thier is a default , gold will almost certainly jump in value , gold reacts possitivley to bad news
We use cookies and similar technologies for the following purposes:
Do you accept cookies and these technologies?
We use cookies and similar technologies for the following purposes:
Do you accept cookies and these technologies?