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Non domestic banks in Ireland?

IpreDictDeatH · 2011-11-15 21:48:13

I was reading an article at the weekend that mentioned it may be an idea to put your savings into a non-domestic bank because the euro is in such a mess. I'm in the process of trying to find the bank i want to stick my savings into so my ears pricked up. I don't get it though, if the euro in Ireland collapses, or is…

15-11-2011 9:48pm

#1

IpreDictDeatH

Registered Users, Registered Users 2 Posts: 269 ✭✭

Join Date: January 2009

Posts: 183

I was reading an article at the weekend that mentioned it may be an idea to put your savings into a non-domestic bank because the euro is in such a mess. I'm in the process of trying to find the bank i want to stick my savings into so my ears pricked up. I don't get it though, if the euro in Ireland collapses, or is devalued i any way, surely it doesn't matter if i have my savings in a bank that is backed up by another currency? The currency i use in Ireland is Euro. I understand that the security of a bank is bolstered if it isn't solely reliant on the euro, but in real terms for me, my saving would still be devalued if anything happened to the euro. Am i correct?

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