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What happens to peoples savings if the euro zone collasped and the euro was no more

  • 07-10-2019 10:39pm
    #1
    ezra160192
    Registered Users, Registered Users 2 Posts: 21 ✭


    Are your current savings just converted( didnt that happen to peoples savings when we joined the euro) or do you pretty much lose everything?


Comments

  • #2
    K.Flyer
    Registered Users, Registered Users 2 Posts: 8,565 ✭✭✭K.Flyer


    ezra160192 wrote: »
    Are your current savings just converted( didnt that happen to peoples savings when we joined the euro) or do you pretty much lose everything?

    Whatever monies that were held in accounts were automatically converted to Euro at a rate of €1 = IR£0.787564.
    So, in theory, if the Euro currency was to cease to exist, we should convert back to IR£ at the same rate.


  • #3
    Jim2007
    Moderators, Business & Finance Moderators Posts: 10,611 Mod ✭✭✭✭Jim2007


    ezra160192 wrote: »
    Are your current savings just converted( didnt that happen to peoples savings when we joined the euro) or do you pretty much lose everything?

    Nothing will happen, apart from the collapse of the entire financial world and all will be lost. There will be nothing to covert it to.


  • #4
    JMMCapital
    Registered Users, Registered Users 2 Posts: 373 ✭✭JMMCapital


    People will go back to the Barter system?


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