Question about banking and savings.

Chaos Marine · 21-07-2019 11:33pm #1

I'm not sure if this is the correct forum as the other Consumer subforums seemed less likely so if there is a more apt forum, I would appreciate it if a mod could punt this thread there. Cheers!

As for my question, the UK is leaving the EU. That's a given at this point and I'm concerned for the stability of the euro and I was curious if it would be possible to convert my savings into a different currency so that if the euro collapses, my money doesn't suddenly become useless.

Thanks in advance.

Sleeper12 · 21-07-2019 11:38pm

I'd be more concerned about sterling collapsing on exiting the euro. The euro itself is quite stable and deliberately undervalued to compete with other countries like the US Dollar. Trump is furious about this

Xterminator · 26-07-2019 10:59am

Hi Op

if you are concerned about market contraction and currency fluctuation, isn't the safe option to put your money into safe commodities like gold rather than another currency, and especially sterling, because lefts face it hard brexit will be a lose lose scenario.

Darc19 · 26-07-2019 5:23pm

All the experts are suggesting that sterling will collapse.

UK is a relatively small player in world terms. (brits just don't understand that)

Biggest loser to a no deal brexit is uk by a proverbial mile.

Remember that the EU trade deals with every other country will not change one iota. UK still has to start negotiating.

L1011 · 26-07-2019 6:46pm

What currency do you think is somehow insulated here?

I know of people in NI who have moved substantial portions of their savings to Euro; not of anyone going from Euro unless they've completely bought in to buying electrons crypto

Question about banking and savings.

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