ToshyWashy
Registered User
- Messages
- 3
How safe are Irish banks with 60k in them?
1) The banks go bust and the government goes bust - a small risk but it should not be ignored
Surely this is way way worse than the last crash. I heard it's costing 6 billion already the new dole. The tax revenue's are going to be decimated. And how long more can governments pay everybody to be off work. This cannot go on for months and months.Very safe. There is a bigger risk from inflation.
This risk is not small, it is microscopic. Banks are much better capitalised than in 2008 and the are all forced to issue debt instruments that are bailed in before retail depositors <€100k like you.
Otherwise, even in the bad years 2009-12 nominal income for public servants only fell about 10% due to pay cuts and tax rises. The real killer was for roles (health and justice for example) with a lot of overtime that got cut. That saw people down a further 20% in some cases.
Surely this is way way worse than the last crash. I heard it's costing 6 billion already the new dole. The tax revenue's are going to be decimated. And how long more can governments pay everybody to be off work. This cannot go on for months and months.
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