Irish government guarantee bank deposits

Stavros_3

What a hypocrit

Quote from BBC - Ms Merkel has been strongly critical of the Irish decision to take independent action to protect all savings deposits

pumpndump

I have just come back from Ireland. No, I did not go specially there to transfer my funds. I was going to Ireland round about now, anyway. I just brought the date forward. There were people from all over Europe, plus some Americans, and I think a Canadian or two, opening accounts. The bank staff were telling me that they have never had it so busy. My Irish relatives tell me that they think that this is just a stunt by the Irish government to lure in billions of foreign money. I agree. It's working. This is the biggest shot in the arm the Irish economy has had since Peter Wright's Spycatcher.

Stavros_3

Its just like "Whiskey galore"

occamsrazor

I also received the email from Anglo-Irish IOM announcing the 100% Govt guarantee and am concerned that it's no longer there on the website - have written to them seeking clarification... anyone gets a reply first please post it here...

nilrem_2

According to Sky news the Danish Government are now giving savers a 100% guarantee.

luvpump

Its easy to say we will gaurantee your money... but its us the taxpayer that would ahve to foot the bill !!!

nilrem_2

luvpump wrote: »

Its easy to say we will gaurantee your money... but its us the taxpayer that would ahve to foot the bill !!!

No they won't, the whole thing is about confidence, if you can reassure savers that their money is safe they will not keep shifting it around causing the banks to have funding problems.

roddydogs

Theres no way any "Government" can guarentee 100% of all savings, its just a con trick-where would they get all this money from?

occamsrazor

nilrem wrote: »

No they won't, the whole thing is about confidence, if you can reassure savers that their money is safe they will not keep shifting it around causing the banks to have funding problems.

Very true... I think the Irish Govt has been quite smart in this regard.

Back to the Anglo-Irish Isle of Man operation question - I spoke to them on the phone today and they said they are still waiting for clarification/confirmation from Ireland's financial regulator as to whether the IOM subsidiary will be covered by the Irish Govt guarantee... and said they hope to know "maybe by the end of tomorrow" and it'll be posted on the website.

Stavros_3

The Italians have announced that a joint statement from EU member countries will be released later. Can't wait lol. I bet Merkel's phone was busy this morning from No10