Any new news about how solid is the bank garentee for the 100K

derry

I saw last week saterday the regime decide to announce that they would garentee the deposits in banks up from 20K to 100K


I waited and watched for confirming info how this slight of hand can be done

Like apart from its some politcal promise what is the reserves and conditions to back it up

Like if the bank goes wollop do we have to wait 6 months or ten years to get our money back

Apart from the government who else would contribute to the funds to this solution

It just seems to be from what i can see the nanny state has yet again pulled off the magic trick POOF 100k garanteed with hot air and Hush little baby you can go back to sleep

Only got some indictors that all is not so good from this thread

http://www.boards.ie/vbulletin/showthread.php?t=2055385222&page=2


Appears there is no reserve in the banking system to garentee this funds

So it seems now it is a political promise until the law is changed to increase the reserves

So anybody know if the bank went kapow how long it would take to get the 90K if your 100,000K is in the bank at the time


If for example it took 10 years to get refunded and inflation was 5% over that time the 100,000 K which would be 90K which would after 10 years then only be worth 45,000 K or something like half the value in ten years with a modest inflation rate makes this a dodgy burger if that was the case

It all seems like small creaky door is open for the big bad wolf to come in and eat up the all the saving :pac::pac::pac:

So any news bits out there that has any real facts that are not pooof magic illusion tricks


Derry

flogen

This is not relevant to News/Media.

Locked.