Run on Banks, when's it going to happen here?

Country is still in a bad state but I think we're passed the run on the banks possibility at least.
As far as I know our banks have very little exposure to Greece

you'd ned to have a serious amount of cash, 5 or really 6 fig sums to be worried. I only have the few cent left from better times.....

Even so I doubt it will even come to that.

mike65 wrote: »

There will only be a run on the banks if enough people are panicked into withdrawing money. Lets try to not be that stupid.

Sean Quinn got €3 billion from the banks some time ago, and has not paid it back, or it appears to have any intention of doing so. The rest of us pay for they likes of him no matter what country we are in, Ireland, Spain or Greece. I would not be surprised if there are any lessons learned by the banks here.

Theres no real run on the greek banks becuase most of the wealthy people have already moved the money elsewhere sometime ago.

The folks left are the day to day people with 'normal' accounts in that you get paid ad it's used up through the course of a month. Very hard to make a run on what isn't really there for very long as you need it to live on.

darkman2 wrote: »

OP, I have to say, I think it's very irresponsible to even have a thread like this. Bank runs are dangerous things. And once people get it wrongly into their heads that their money is not safe you could have a panic. That's what is happening in Greece right now though not a "run" more of a "jog". We really don't want any such movement developing here! And once talk of bank runs start it is so hard to get the genie back in the bottle. It can be a runaway train and everyone ultimately suffers the consequences.

Your money is fine. My money is fine. If people start withdrawing funds in bulk then our money is not safe. So why even ask?

Sorry darkman, but that is complete rubbish. The OP is only trying to look after his family (which is all we are really talking about) and he is well within his rights to bring up this topic. If others wish to keep their heads in the sand fine, but I'll happily discuss same with him.
Would you be happier if I discussed same via PM :rolleyes:

If you are lucky enough to have a few quid, I suggest you think on a bit.
No offence meant.

was there not a time limit on the bank gurantee made in 2008?

NIMAN wrote: »

I've always wondered where do people put their money when they withdraw it from a bank?

another bank not owned by the state, gold, shares...

The problem isnt the stability of the banks. The banks are supported with lots of money and the signs are that support will continue. The problem is the money. People in Greece are taking their money out of the banks because they want it in Euro notes not some digital illusion of money in an account. They dont want to wake up one day and hear that all their money has been switched from Euros to Drachma on a 1 to 1 basis and then the Drachma falls by 60% in first day of trading in effect wiping out most of their savings. The banks still have the same number of units of a currency just a very devalued one. If people have euro notes then they can keep them safe and once things stabilise they head to Germany for a day and convert them to Drachma without losing the 60%.

There will be minor flows from banks here until we have a better idea of what currency we will have. If we are allowed to stay in the main Euro then there wont be a run. But if it looks like we are moving back to the punt or into a division 2 euro (us, greece, spain, italy, portugal, cyprus etc) then there will be a full run on the banks. Most sensible businesses have made plans on how to move ther money in a hurry if they need to. It is just like any disaster recovery plan. Hopefully they will never use it but better to have the plan rather than be running around like a headless chicken on the morning that it all comea down. Most sensible people sholud have a similar plan for their persoal savings.