Rabobank euro question

douglashyde

Guys,

I know this has been brought up before however I want to get a clear answer.

My parents are looking at putting a chunk of their savings out of Irish banks - the reason is not because they are afraid of the failure of these banks, rather it is the risk of the euro currency collapsing - in which case any Irish bank holdings will be revalued in Irish punts.

So, my question is: In the event of this happening, would savings in Rabobank be revalued in Irish Punts or Deutsche mark?

Also, what are the other options for hedging against the collapse of the Euro currency excluding buying commodities such as Gold?

GerardKeating

douglashyde wrote: »

Guys,

I know this has been brought up before however I want to get a clear answer.

My parents are looking at putting a chunk of their savings out of Irish banks - the reason is not because they are afraid of the failure of these banks, rather it is the risk of the euro currency collapsing - in which case any Irish bank holdings will be revalued in Irish punts.

So, my question is: In the event of this happening, would savings in Rabobank be revalued in Irish Punts or Deutsche mark?

Also, what are the other options for hedging against the collapse of the Euro currency excluding buying commodities such as Gold?

Well, since Rabo is Dutch, Netherlands Guilders maybe.

Blackjack

GerardKeating wrote: »

Well, since Rabo is Dutch, Netherlands Guilders maybe.

If its operating here under an Irish Banking Licence (which it is), more likely to be any new Punt, in the hugely unlikely event of this ever being allowed to happen.

JTMan

Rabo are subject to the laws of Ireland. EUR in a Rabo account would be converted into An Punt Nua.

You could always open a GBP account with Nationwide UK on the Isle of Nan, or a GBP account with Ulster Bank in Northern Ireland or a EUR account in Belgium via Keytrade.