If Ireland Defaults?

elspecia

Hey all, i'm just wondering what would happen if Ireland went bankrupt mainly to my money which i've deposited in my Credit Union account?

Would my money just disappear? Or would it still be there?

Because if the Country hits the wall how would the government be able to support the current guarentee?

Cheers in advance

femur61

I was wondering the same. It wouldn't be a lot of hassle to move money to a bank in N.Ireland. May actually be of some benefit that we have 6 counties in a different jurisdiction.

I always was a saver and thought unlike many, there may come a rainy day, now that it is hear I certainly don't want to loose it.

oppenheimer1

Ireland won't default, it will access a bailout fund before it ever comes to that.

Inquitus

The amount of people on boards who are worried about their savings in Irish Institutions is quite startling, we probably aren't too far away from a hysterical and baseless run on the banks.

rc28

Eh apart from the government's guarantee isn't there an EU-wide guarantee up to €100,000?
The worst possible thing that an Irish citizen could do for their country would be to withdraw their money from Irish banks. I am so sick of all this hysteria :mad:

SkepticOne

rc28 wrote: »

Eh apart from the government's guarantee isn't there an EU-wide guarantee up to €100,000?

I don't think so.

danbohan

rc28 wrote: »

Eh apart from the government's guarantee isn't there an EU-wide guarantee up to €100,000?
The worst possible thing that an Irish citizen could do for their country would be to withdraw their money from Irish banks. I am so sick of all this hysteria :mad:

still believing in governments guarantees are you ?, good man brian thanks for stopping by !

[MOD]That line is so original - banned for a week.[/MOD]

rc28

danbohan wrote: »

still believing in governments guarantees are you ?, good man brian thanks for stopping by !

Right well good luck trying to stop the whole country going under when each person attempts to withdraw their money from Irish banks at the same time. Btw I am certainly no supporter of the present government or FF overall :eek:

elspecia

cheers guys, its just you hear so many different things in the news, radio and newspapers everyday about the economy and there are alot of people saying things that are frankly scary for someone like me, as i've got alot of money in my savings.

sometimes its very difficult to figure out who is worth listening to, but i really know not to listen to any politicians at this stage as they all change their story week on week

so the liklihood of ireland defaulting is low, and if they did the EU fund or IMF would be brought in in order to prevent the collapse of the state(well a further collapse anyways)

SkepticOne

I think the sensible thing is not to withdraw all your money but rather to have a small portion of it in cash in the (highly unlikely) event that there might be problems with ATMs. Then the rest of it should be in a mix of Irish and foreign owned banks. Spread the risk.

elspecia

SkepticOne wrote: »

I think the sensible thing is not to withdraw all your money but rather to have a small portion of it in cash in the (highly unlikely) event that there might be problems with ATMs. Then the rest of it should be in a mix of Irish and foreign owned banks. Spread the risk.

i don't have my money available via ATM as my savings are all in the credit union ha ha ha:D

Hootanany

elspecia wrote: »

i don't have my money available via ATM as my savings are all in the credit union ha ha ha:D

I wouldn't larf just yet they could be in bother also

wylo

I dont have any money at all so I can laugh:D

Scofflaw

The OP's question has been answered, so before the thread descends any further into one-liners...

moderately,
Scofflaw