Irish government guarantee bank deposits

Stavros_3

I think Gordy is going to have to bite the bullet on this one, never mind 50k guarantee, he will have to fall in line otherwise the high street banks in the UK are going to be up in arms over unfair competition from the Irish banks.

SilverScooby

Lets all go and form a big queue at our post office to move our money from UK banks to Bank of Ireland and see how long it takes Gordon to match Ireland's guarantee....

ian-d

Sorry, skimmed the pages as I just heard about this on the news. Great news isn't it, by other countries within the EU taking the initiative, should that possibly mean that the UK will have to follow and therefore give us full protection of our money so we don't have the split it between so many banks?

gozomark

possibly, moving towards probably, if more EU countries do an Ireland

altocumulus

Knowing the EU they will probably try to tell Ireland that what they have done is against some small print in the treaty - and they must stop it !!!

darkshepherd

sorry - Allied Irish. I moved quite a lot of cash there - city office Angel Court. An interesting question maybe - what happens to those with offset mortgages who have a positive balance in the current account (ie they have not drawn down the whole amount) and a bank goes bust? Do they lose the cash and become liable for the whole amount?

altocumulus

The mortgage has to be paid off first....

stamford

shellbell63 wrote: »

No I hadn't seen this one. Thanks
Though rate on Anglo Irish Bank Uk rate is better. Just waiting on confirmation re it being UK arm & guarantees.

Any news yet re guarantees. With regard to Northern Rock just for general info they've closed their personal eSavings to new customers, I wonder if the same will happen to their business reserve - I got both opened last week

Stavros_3

No news at this moment but Sky news are reporting that the major UK banks are noticing 'significant' movements of cash across accounts. Oh I do hope he doesn't dither and makes an annoucement soon.

ed123_2

..the strange thing about this 100% protection is that it does not apply to all Irish banks/bsoc's, the ones covered-Allied Irish Bank, Anglo Irish Bank, Bank of Ireland, Irish Life & Permanent, Irish Nationwide B Soc and Educational B Soc ....all the rest arn't covered