It is very unlikely to be cancelled.
However, there is a small risk that the state might go bust and would not be able to honour its guarantees.
Brendan
Most likely other Eurozone countries would have to come to the rescue to prevent break up of the EURO. Not exactly the kind of action that makes you welcome with your neighbours.Wow, what happens if that were to occur?
UK is not very safe as they only guarantee up to £K unemployment is 2 million and rising. No where is safe at present however would the EU have to pay depositors want comes under their EU bank guarantees rate what every that is at the moment. or is this incorrect.
UK is not very safe as they only guarantee up to £50K for depositors, unemployment is running at 2 million and rising. No where is safe at present for any kind of investments. However is the EU responsible for deposits up to 30,000 Euro. Is this correct.
UK is not very safe as they only guarantee up to £50K for depositors, unemployment is running at 2 million and rising. No where is safe at present for any kind of investments. However is the EU responsible for deposits up to 30,000 Euro. Is this correct.
Hi all,
a sentence in this article got me very scared:
http://www.independent.ie/national-news/the-nation-faces-ruin-as-our-tds-squabble-1649050.html
This was the sentence: "A new national government would need some exceptional powers for at least three years to insulate it against the unpopularity of the decisions that have to be made"... Do you think that one of these unpopular decisions could be cancelling the Bank Guarantee Scheme??? In theory, a new government can "correct" the decisions of the previous one...
I am now rushing to a Chemist to get some calming tablets I promise, but please let me know your opinion on which "unpopular decisions" could be made....
All Northern Rock deposits guaranteed by UK Govt. Not just 50K
Rabo guarantee 100K and 200K for joint account by Dutch Govt.
As Northern Rock were the 1st in trouble they have been working to sort out their problems longer than the others, this might make them safer, hard to know though.
You are not guaranteed at all then. Good luck trying to find one in Ireland.We've got the proceeds of our house sale lodged with NIB and are seriously considering a cash safety deposit box. Any thought?
The ECB is the lender of last resort in the eurozone. My understanding is that this means that if there is a run on deposits, the ECB will come up with funding based on repo's (bank lodging assets in return for cash) to pay depositors.3) By the EU do you mean the ECB? I don;t they are responsible for deposits in member state banks. I am here to be corrected if wrong. I think it is up to each country to guarantee their own citizen's deposits?
You are not guaranteed at all then. Good luck trying to find one in Ireland.
In the event the safety deposit box company is robbed/goes bust/burns down, how will you get your money back?What do you mean by 'not guaranteed at all'? BTW we have located a saftey deposit box system (in Ireland).
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