Reason is that it would be nice to have some money in an offshore bank account is needs be, in the event that the euro breaks up. no one is saying that you need to move all of it. but to move some would be a wise move.
reasons I think it might be a good idea to move some money to another euro country (austria, germany, france, the netherlands or luxembourg are the countries i would pick.):
1. it is a cheap way to move money out of ireland in case of euro collapse if you move it offshore now you can easily move it back if it turns out the euro is here to stay.
2. I think that it is prudent to have the ability to move money to a country like germany in our current circumstances. if you got whiff of a rumor that the changeover was going to happen you could do something.
3. germany and the above countries have stable banks.
4. If the euro collapses it might make make you some money if euro doesn't collapse well you were still making interest on it.
5. money can be transferrred over and back electronically from your computer at home.
Caveat: I am not basing this on any professional knowledge only what i have read on the internet on forums like this and news stations.
My assumptions are as follows:
a large German bank like DB is resonably well regulated and that its failure is unlikely
that in the event of a collapse the new deutchmark will be worth more than our punt nua quiet quickly.
we will not get a warning about the collapse of the euro (in the unlikely event that it happens).
the banks in the countries above will survive a euro collapse.. (ok now that i think of it that might be a bigish assumption)
Gold is too high to buy.
any investment i make carries a 1% government levy
