This has come up time and time again. Its not equitable to convert savings and not convert debt.Do you think the banks are going to convert your outstanding mortgage to Punt Nua?
This has come up time and time again. Its not equitable to convert savings and not convert debt.
I take the point - but the fact remains the same. It's not an equitable scenario if ones savings are converted whereas debts remain in Euro.How would the bank do that though? Because whoever they owe money to internationally is not going to convert to Punt Nua.
Am I missing something obvious?
Firefly
The fact that the government has no authority to do so! Irish citizens are EU citizens and like all such citizens their right to the free movement of their capital is guaranteed, you can't simply go around converting their Euros without their agreement via a change to the treaties - meaning a referendum in Ireland.
They couldn't simply go around nationalising private debt either.
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