dockingtrade
Registered User
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over the last few years the was alot of concern about the the safety of deposits in irish banks and in state savings. Many here had moved cas h out or said they wouldnt have a cent in an Irish bank, im just wondering has that changed for some contributors.
Many here had moved cash out or said they wouldnt have a cent in an Irish bank, im just wondering has that changed for some contributors.
I will never leave a lump sum in an Irish Bank ever again,not after the damage they have inflicted on the State and her people.
If we all took that approach it would drive the economy further into the mire. Banks are Banks. Whether Irish or other, they all made mistakes. The foreign banks operating in Ireland operated as recklessy as their Irish counterparts. While holding no candle for the Banking sector, there is no logic to the approach of "punishing banks" by holding your money abroad.
Banks are Banks. Whether Irish or other, they all made mistakes. The foreign banks operating in Ireland operated as recklessy as their Irish counterparts.
The foreign banks operating in Ireland operated as recklessy as their Irish counterparts.
"twarnt us what done it,twas Lehman brothers"
The original question was about the safety of Irish banks.
Not 1 Cent has been lost by depositors despite all that's gone on.... and that is good enough for me.
I'm no expert, but with all the money that has gone into Irish banks, I would have thought they are now the safest around.[/QUOTE
Quite right. No depositor has lost money. And I believe most people did not put their money abroad - corporations did - and some people did. And bear in mind that those who did received very little return.
I agree with Knuttell and CiaranT on this, the basic answer is no, they are no safer than they were a couple of years ago. They are still 100% reliant on the ECB and an absurd guarantee by the Irish state. That does not make them safe, that makes them extremely risky.over the last few years the was alot of concern about the the safety of deposits in irish banks and in state savings. Many here had moved cas h out or said they wouldnt have a cent in an Irish bank, im just wondering has that changed for some contributors.
I think there is a thread on AAM that shows how much deposits left the country which proves your assumption wrong. If deposits had not fled the country then there would not have been a need to provide unlimited liquidity by the ECB.Many people SAID they moved, or will move, their cash out of Ireland. A well known psychological phenomenon is that what people say is often at variance with what they do.
Just because people haven't lost money yet does not mean that they won't lose any money. The risks were always two-fold, (1) bank goes bankrupt and Irish state does not have the money to stand up to the guarantee and (2) Ireland leaves the Euro or the Euro breaks up. Neither of these risks have gone away. And if Irish banks were the safest around, then why have their credit ratings not improved and why have deposits not flooded into these "safe" banks?The original question was about the safety of Irish banks.
Not 1 Cent has been lost by depositors despite all that's gone on.... and that is good enough for me.
I'm no expert, but with all the money that has gone into Irish banks, I would have thought they are now the safest around.
I agree with Knuttell and CiaranT on this, the basic answer is no, they are no safer than they were a couple of years ago. They are still 100% reliant on the ECB and an absurd guarantee by the Irish state. That does not make them safe, that makes them extremely risky.
I think there is a thread on AAM that shows how much deposits left the country which proves your assumption wrong. If deposits had not fled the country then there would not have been a need to provide unlimited liquidity by the ECB.
I think there is a thread on AAM that shows how much deposits left the country which proves your assumption wrong. If deposits had not fled the country then there would not have been a need to provide unlimited liquidity by the ECB
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