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savings guarantee

  • 20-12-2010 6:00pm
    #1
    poppyvalley
    Closed Accounts Posts: 372 ✭✭


    Sorry I know this thread has been done to death but a question came up & I'm kinda worried. Suppose things get worse than they are now and I go looking to get my savings out...the Govt. have no money so they cant give ME any. Now here comes the worrying part. I was told "they will give you an IOU until they are in a position to pay you". This could take a VERY long time, & is just not good enough. Am I worrying unnecessarily?


Comments

  • #2
    Max Power1
    Closed Accounts Posts: 10,272 ✭✭✭✭Max Power1


    its blatently obvious that there are not enough funds to cover all deposits in the event of a default.

    I would move any substantial savings away from ireland ASAP.


  • #3
    later12
    Closed Accounts Posts: 11,299 ✭✭✭✭later12


    No, not necessarily.

    However it is unlikely that anything of this sort will happen in the foreseeable future... ask the question again after Ireland's departure from the Eurozone.

    From speaking to friends who still work in Irish banks apparently there is a quiet run underway due to concerns just like those raised by the OP. How significant this is nationally remains to be seen.


  • #4
    ei.sdraob
    Closed Accounts Posts: 9,376 ✭✭✭ei.sdraob


    keep-calm-and-carry-on1.jpg?w=160&h=185

    2zi6gcx.jpg


  • #5
    irishh_bob
    Closed Accounts Posts: 5,700 ✭✭✭irishh_bob


    later10 wrote: »
    No, not necessarily.

    However it is unlikely that anything of this sort will happen in the foreseeable future... ask the question again after Ireland's departure from the Eurozone.

    From speaking to friends who still work in Irish banks apparently there is a quiet run underway due to concerns just like those raised by the OP. How significant this is nationally remains to be seen.

    thier has been a quite ( unreported in the media :rolleyes: ) run since around september , it intensified for a few weeks in the run up to the bailout in november but things have calmed down quite a lot since , its all very well talking about withdrawing ones savings but if everyone took the same stance , the country would collapse , what good would having your savings in germany be if your own country was going up in flames


  • #6
    later12
    Closed Accounts Posts: 11,299 ✭✭✭✭later12


    Indeed, hence the swiss franc appreciated to its higher ever level against the euro yesterday. The swiss franc might carry its own risk. but money talks and their money is increasingly ending up in swiss denomination.


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