I do not believe the EU will let Ireland default. We have done everything they have asked us to do. If they let us fail it would send the wrong message to other countries in financial difficulties, i.e. it is not advantageous to sell out your citizens to save the bondholders.
But saying all that... I am in the process of opening a bank account in Belgium.
Which bank pls? Can we all help each other? Tomorrow I'll call the italian banks I'm talking with asking if the italian passport is needed or if irish passport can be accepted.
Pls let's help each other. It looks like we are starting a battle against the time.
Is Saving Certs and Savings Bonds in An Post safe??
As safe as all the other debts guaranteed by the Irish State.
I like this article as well:
http://www.marketoracle.co.uk/Article22961.html
Expecially the honest words at the end:
However, in Ireland it would appear an end game is shaping up. There is a limit to the level of borrowing the country can run up particularly with exploding interest costs. Should the Irish political system continue to prove itself incapable of restructuring its bloated public service expenditure it is inevitable that at some stage the IMF, probably through the auspices of the European Central Bank, will wade in and directly instruct the Irish Department of Finance to act. From my point of view the sooner this happens the better because it is only then that people will realise that the bottom is in. It is then and only then that confidence will be restored to the wonderful Emerald Isle.
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