Practical steps during an Irish default scenario?

Zamboni

Leaving causation/macro perspectives/vested interests/patriotism and other wide ranging angles aside, I was wondering if I could get some responses to practical steps that a layman could take during a state/banking default scenario?
What are the potential effects to the average citizen on the ground who works, commutes, buys, banks etc?
How can they best be prepared to deal with the situation?

andrew

I'm not sure of the exact mechanism, but I presume a default would lengthen he recession into 2012 and maybe beyond. In that case, I guess all you could do would be to save some money, in case you lose your job.

Zamboni

Hi Andrew,

I had been reading this article below and I am interested in other folks views, to understand the possible factors that would affect normal daily transactions during a default.

http://gerrycrilly.ie/media/newspapers/external/How%20to%20Prepare%20for%20Ireland's%20Inevitable%20Default.%20Richard%20Douthwaite.%20Construct%20Ireland%20Issue%205%20Volume%205%20January%202011.pdf

For example, do ATMs stop working?
Do Post Offices and Credit Unions close?
Can normal trade/shops continue to function?

Maybe it's better suited for another forum

gleep

You know how, like, when the banks are loosing all this money, who do you think is going to back them up?

Yep, taxpayers. The govt. would raise tax and give the money to the banks. It's exactly what happened in NAMA, developers didn't pay their loans, so the govt. did to stop Irish *(hence Euro) banks going under. Because they're spineless.

Have to disagree with you as well on the whole taking to the streets thing. It hasn't worked yet because we haven't even tried. Never mind all the IMF crap, this is what shames our country most.

Anonymous1987

This is not the place for this thread and is certainly not the place for a political call for action, closed.