What is the likely outcome for our banks in the next 2 months?

alan85

I'm worried to be honest. I have savings that I have accumulated for over 5 years for my training. Losing them is not an option. It would leave my plans in ruin. I was happy to see the IMF enter the country to be honest. I thought that at least in the medium term there would be some stability. But now we find out 3 months later our banks have more shocks coming and Portugal's rate is getting higher.

To those in the know:

• What do you think is likely to play out over the next 2 months?
• Would you advise moving money abroad?
• If you do, how do you go about setting up an external account say in Luxembourg or Switzerland?

Thanks!

fred252

are the european banks based in ireland, like rabo, covered by the dutch guarantee or the irish guarantee?

i've moved my money out of AIB anywho

Eliot Rosewater

Irish Economy > Investments & Markets.

I hope it's okay here.

SkepticOne

Rabo is covered by the Dutch guarantee.

Spudmonkey

fred252 wrote: »

are the european banks based in ireland, like rabo, covered by the dutch guarantee or the irish guarantee?

i've moved my money out of AIB anywho

As it is in the Irish jurisdiction, the money will always be kept in the local currency though.

beagle001

Can someone enlighten me a bit on the stress test for banks.
What's going to happen to Boi,Aib and Irish life and permanent are they going to dilute more shares with govt investment r be nationalised.
So much conflicting info out there anyone more the wiser

FlashD

alan85 wrote: »

To those in the know:

• What do you think is likely to play out over the next 2 months?
• Would you advise moving money abroad?
• If you do, how do you go about setting up an external account say in Luxembourg or Switzerland?

Thanks!

Just wondering if anyone can help answer the OP's original questions specifically question 3. I would like to know also.

Regards.

Kristopherus

Go on to askaboutmoney.com. Those issues are discussed at length there.

MrMatisse

Very hard to to say.

OfflerCrocGod

I have a feeling that the Irish banks will be used by the new government as a way to wrangle for a lower rate on the loans provided by the EU member states.

We have leaks of the banks needing another €25 Billion+ which seems like the perfect moment for the government to tell Europe that it won't pay for the banks any longer and that it's time to negotiate. I can't imagine any other reason why the leaks were allowed.

I suppose we will see who blinks first but you can bet your bottom dollar that if the Irish government lets the banks go the rest of Europe will feel the pain, and they know it.