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What happens to deposit account if IMF come to Ireland?

  • 25-09-2010 7:54pm
    #1
    Benedict
    Registered Users, Registered Users 2 Posts: 684 ✭✭✭


    Anyone know what will happen to deposit accounts if the IFM enter the Irish scene? Will our deposits be safe? Could they be frozen?


Comments

  • #2
    dotsman
    Registered Users, Registered Users 2 Posts: 3,636 ✭✭✭dotsman


    Your deposits will be safe.

    The IMF don't actually do anything themselves under than lend the money. It's the conditions that they put on that money (ie, we will lend you the money you need, but you must decrease public spending by 40% over the next 2 years etc).

    They are the lender of last resort and will push economic policies that ensure that the country is able to pay back the money that they lend them.


  • #3
    Benedict
    Registered Users, Registered Users 2 Posts: 684 ✭✭✭Benedict


    Thanks Dotsman.


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