How Much savings in Ireland?

Elmo

Credit Unions have €13.4 billion euro in savings from customers. (ROI & NI)

How much money is in saving accounts across all institutions?

Just did the Spendometer from Permanent TSB and they seem to suggest over 2,100 but I am wondering if that is just a line the drew. See for yourself www.spendometer.ie (You have to fill in the information to get the graph).

The Credit Unions have an average saving of €4,670 per customer.

Of course then the next question is how much do we owe?

So anyone know where I can find these details?

hiorta

There is no connection between private savings and National debt.

Elmo

hiorta wrote: »

There is no connection between private savings and National debt.

So? That is not my question.

I am assuming that Personal Debt has also nothing to do with National Dept?

hiorta

Elmo, you're raising another issue here.
What is the connection between private savings and Irish National Debt?

Elmo

hiorta wrote: »

Elmo, you're raising another issue here.
What is the connection between private savings and Irish National Debt?

Your raising another subject, I am not.

I have asked 2 fairly straight forward questions:-

1. how much do individuals owe on average?
2. how much do individuals save on average?

You mentioned National Dept.

hiorta

Elmo wrote: »

Credit Unions have €13.4 billion euro in savings from customers. (ROI & NI)

"""The Credit Unions have an average saving of €4,670 per customer.

Of course then the next question is how much do we owe?"""


If you see a connection between these two items, would you explain what it is?

kuntboy

We should give this money to the government so they can waste it.

Elmo

hiorta wrote: »

If you see a connection between these two items, would you explain what it is?

by "We owe" I didn't mean as a "Nation", I was talking about our personal debt as I was talking about our personal savings. You jumped to conclusions.

OMD

hiorta wrote: »

Credit Unions have €13.4 billion euro in savings from customers. (ROI & NI)

"""The Credit Unions have an average saving of €4,670 per customer.

Of course then the next question is how much do we owe?"""


If you see a connection between these two items, would you explain what it is?

He is asking a fairly simple question that has nothing to do with national debt.

As far as I know Household Debt is about €180 billion. (about €90,000 per household, mostly mortgage debt). This excludes business debt.

Banned Account

OMD wrote: »

He is asking a fairly simple question that has nothing to do with national debt.

I thought he was enquiring into the state of my personnel department

lmimmfn

OMD wrote: »

He is asking a fairly simple question that has nothing to do with national debt.

As far as I know Household Debt is about €180 billion. (about €90,000 per household, mostly mortgage debt). This excludes business debt.

and isint the total savings in accounts 80billion?

baalthor

Constantin Gurdiev estimates around €200bn ...

He got his figures from the Central Bank.

Taxi Drivers

Based on Central Bank data it seems that Irish residents have about €170 billion on deposit with Irish Financial Institutions. This is broken down as:

5. Deposits from Irish residents: €171 billion
5.1 Overnight
Current accounts: €35 billion
Demand accounts: €38 billion
5.2 Agreed maturity:
Up to and including 1 year: €60 billion
1 to 2 years: €9 billion
Over 2 years: €12 billion
5.3 Notice:
Up to and including 3 months: €17 billion
5.4 Repurchase agreements: €0 billion

Now, it is clear that all of this €171 billion on deposit could not be classified as 'savings' but it does give an indication how much money 'we have in the bank' so to speak.

On the other hand the latest measure of Private Sector Credit in Ireland from the Central Bank puts this at €355 billion. Virtually all of this is in the form of loans which can be broken down as follows

5. Loans to Irish residents: €349 billion
5.1 Overdrafts: €9 billion
5.2 Repurchase agreements: €0 billion
5.3 Loans up to and including 1 year: €49 billion
5.4 Term/revolving loans: €125 billion
5.5 Instalment credit/hire-purchase/leases: €2 billion
5.6 Residential mortgages: €109 billion
5.7 Other mortgages: €13 billion
5.8 Other loans: €43 billion

There are a few graphs tracking this totals here with doubts about the usefulness of the measure of private sector credit are here given the huge amount of credit that was forwarded to a tiny group of developers.

Elmo

I am assuming as time goes on - if we aren't out of the recession - we will see an exaggerated dip in savings as people use their savings to survive and pay off their loans.

Tea drinker

hiorta wrote: »

Elmo, you're raising another issue here.
What is the connection between private savings and Irish National Debt?

Hiorta, you're raising another issue here.
What has private debt got to to do with Irish National debt?