Very worrying stop press news re Anglo Irish

gozomark

thanks for that

just on Debt to GDP - it was 25% in 2007, and about 40% end 2008 - expected to go to 50 % in 2009 and 60% odd in 2010

GeorgeHowell

JamesJames101 wrote: »

He finished by saying that Ireland will still be around at the end of the year (my bond expires in November).

Iceland was still around at the end of last year - but was it a good idea to put money in their banks ?

soulsaver

GeorgeHowell wrote: »

Iceland was still around at the end of last year - but was it a good idea to put money in their banks ?

You're obviously wise, George, and your comments are clearly well researched. So ok, will you share the positive benefits of that wisdom in positive advice: Where have you got your savings? Let's consider if we ought to put ours with yours. Let's hear something constructive rather than spreading doom in every post I see of yours.
You do have some savings, don't you?

JP45

GeorgeHowell wrote: »

Iceland was still around at the end of last year - but was it a good idea to put money in their banks ?

I don't think any of us are advocating putting more money into Irish banks. The issue at stake is whether those of us who opened fixed rate bonds with Anglo Irish when it was previously covered by the FSCS should seek to withdraw our money. However, judging by the recent article in the Daily Mail, it would appear that - contrary to earlier reports - Anglo Irish are not allowing bond holders to withdraw their money on the grounds of a change to T&Cs. And as withdrawals based on an emergency are at the discretion of the bank, I can't see Anglo Irish accepting any more such bogus requests.

melbury

GeorgeHowell wrote: »

Iceland was still around at the end of last year - but was it a good idea to put money in their banks ?

Could really do without seeing comments like this:mad:

This does not help me to stay calm and collected, so please if you can't say something positive, don't bother to post at all.

dobefan

I'm sorry if anyone finds this post disturbing ... its not meant to be.

I have just withdrawn my savings, it was in an instant access account, and i decided that as I felt so uneasy about it... it was better out of there.

No grounds for my decision other than all the bad press and the present climate. I'd rather sit on it and loose interest, than risk loosing the capital.

Cheers

JamesJames101

Iceland is completely different - the government did not guarantee the deposits in the banks.

Melbury please try to calm down - everything will be just fine!

WD40

Iceland's credit rating was BBB at the time of the collapse, having taken several months to slide from its AAA status.

At this moment in time, Ireland is still AAA.

If Ireland's rating starts to slide, I will be concerned. As others have stated, hysteria will have nothing but a negative impact. My dear mother stands to lose her £95K savings if AI went under without guarantee - losing this would be far worse than losing my own savings. If Ireland's rating starts to slide, that would be cause for concern in my mind.

soulsaver

melbury wrote: »

An earlier poster on here said that they had contacted the FSA and were categorically told that no way would the UK compensation come into play if Anglo Irish Bank/Ireland defaulted, which I didn't think was very reassuring as the bank does trade in the UK.

I just hope somebody would be willing to help.

Actually Mel it was another wind up merchant IMHO - they said they asked the FSCS - which they may well have done - and the FSCS said they wouldn't compensate which is certainly true - but nowt to worry about because they are NOT the Govt, and couldn't speak for the Govt. And it would be the govt we'd be looking to step up, in the event.
I asked the same question and the FSCS said '... coudn't possibly try to second guess what the govt may do...'.

soulsaver

JP45 wrote: »

I don't think any of us are advocating putting more money into Irish banks. The issue at stake is whether those of us who opened fixed rate bonds with Anglo Irish when it was previously covered by the FSCS should seek to withdraw our money. However, judging by the recent article in the Daily Mail, it would appear that - contrary to earlier reports - Anglo Irish are not allowing bond holders to withdraw their money on the grounds of a change to T&Cs. And as withdrawals based on an emergency are at the discretion of the bank, I can't see Anglo Irish accepting any more such bogus requests.

I wouldn't worry too much about the financial reporting currently - they clearly know chuff all. They C4 news think its an outrage that agency workers weren't getting redundancy pay from BMW at Cowley ..... theTristhams don't know enough 'real world' to understand that agency staff are not employed by BMW...but by, er, the agency...