Originally Posted by irishh_bob
this country is going down and when we are either kicked out of the euro or have to leave so we can devalue , i want my money elsewhere
OK, stop listening to the "talking headers" and start to think for yourself!
There is no way out of the Euro and the big European pension funds have put some much into Ireland/Spain/Greece that they can't afford to let this happen either.
You have currently got your savings in
- One of the major world currencies (a reserve currency for most countries)
- You've got the biggest economic block and it's bank (ECB) ready to defend that currency
- Your money is on deposit with a bank that has fully met the new ECB stress tests
- You live in a country, which has disclosed more information about the state of their finances that any of the others, so there is a good chance that all the bad news is out
And now you want to move you cash to
- A currency that is no longer considered a reserve currency
- A country that has little resources to support their currency
- A country that is only now starting to talk about the cuts they will have to make....
- A country with out date industries and an aging population...
In doing so you are exposing yourself to both forex and country risk, do not underestimate the power of the Euro block and it's ability to out perform the UK economy.
If you are going to move money out of the Irish economy, at least keep it in Euros and move it to some where like Germany!
Good luck with that,