safest home for savings

  • Thread starter Maria Gorett
  • Start date
M

Maria Gorett

Guest
Is the Post Office the safest place for my savings in the event the government defaults on protecting deposits Im not concerned about interest rate merely that my money is safe
 
fungus said:
Have a look at this ...
http://www.askaboutmoney.com/showthread.php?t=77817

An Post are owned by the Irish Govt. who recently have had their credit rating downgraded.

Northern Rock are owned by the UK Govt. who are AAA rated.
Click to expand...

Fungus- I thought I saw an article in the paper last week that confirmed that Irelands (aka the government) credit rating remains at "AAA"???
When was the Irish Govt credit rating downgraded and to what?
 
http://www.bloomberg.com/apps/news?pid=20601087&sid=alJexaGrK3h4&refer=home

"Ireland’s Debt Outlook Cut to ‘Negative’ by Moody’s
Jan. 30 (Bloomberg) -- Ireland’s government debt-rating outlook was lowered by Moody’s Investors Service, which said the financial crisis is likely to “significantly affect” the country’s economic strength. The risk of holding Irish debt rose to the highest in Europe, credit default swaps showed"

Change from "AAA stable" to "AAA negative". Granted, it is still AAA for now.
 
Maria Gorett said:
Is the Post Office the safest place for my savings in the event the government defaults on protecting deposits Im not concerned about interest rate merely that my money is safe
Click to expand...

Best not to put all your eggs in one basket (or one country) . Spread it between 2 or 3 institutions that are all covered by different country's schemes. Just in case there is a major problem with one country - you will be safer. Not that I am suggesting there will be a problem...
 
You must log in or register to reply here.
Back
Top