Very worrying stop press news re Anglo Irish

GeorgeHowell

gozomark wrote: »

I'd say the German banking system is lower risk than the UK one

Possibly, but for a UK citizen I would argue nowhere is safer than the UK. As we saw with Iceland, when push comes to shove they tend look after their own first, and let's face it, such an attitude is not unknown to the Germans. Also I don't have confidence that the EU can or will ensure that nationalistic attitudes cannot prevail. If your money is somewhere such that the UK government has an electoral interest is ensuring that you are covered, then I reckon you are as safe as you can be.

FraudBuster

No-one knows that the sun will rise tomorrow either - but extremely likely that it will

Something very similar was posted by the PR Teams working for the Icelandic Banks.

redouma

I agree with George re UK whilst our problems and woes are enormous I think we will weather these problems far better than Eire. In relation to Eire and in particular what this thread started off with Anglo Irish I think we British savers had/have every right to be concerned as more and more evidence mounts against this bank. Now I realise the Irish Government have nationalised it but what would stop them closing the doors on its operation because of unsurrmountable problems/debts. Also see link below which again does nothing to ensure savers have faith in their banking system.

http://www.irishtimes.com/newspaper/frontpage/2009/0225/1224241775956.html

pat888

I have just received a refund. I requested a refund due to a family problem and have received it cleared and in my bank five working days after I posted the request.
This was on a two year bond due next year.

joemardo1

Martin's view

http://blog.moneysavingexpert.com/2009/01/27/are-irish-banks-safe-including-the-post-office/

bendipa

redouma wrote: »

Now I realise the Irish Government have nationalised it but what would stop them closing the doors on its operation because of unsurrmountable problems/debts. Also see link below which again does nothing to ensure savers have faith in their banking system.

http://www.irishtimes.com/newspaper/frontpage/2009/0225/1224241775956.html

That link has nothing to do with Ireland's financial survival. If the Irish government was ever allowed to default it would be the end for Ireland and probably the EU too. No country would ever bank or deal with Ireland again. The country would have to go bust with the result of no social security, hospitals closing, mass unemployment and poverty on a scale not seen since Ireland's potato famine of the 1840s. It ain't likely to be allowed to happen, otherwise panic will start to spread to other EU countries including the UK

I agree with George re UK whilst our problems and woes are enormous I think we will weather these problems far better than Eire.

Don't take it for granted that the UK is immune from these problems. We won't get any help from the EU, because we are not a Eurozone country. We had to go cap in hand to the IMF for a bail-out previously in 1976, because of a huge public sector deficit and a crashing £. And we had far more effective politicians then than we have today. Don't believe it won't happen again.

http://news.bbc.co.uk/1/hi/uk_politics/6212557.stm

gozomark

all the talk about Ireland struggling to raise finance
http://www.independent.ie/business/irish/83644bn-success-in-debt-raising-bid-1653697.html
They need to raise € 20bn this year - they have already raised € 10 bn, incl € 4bn in the last few days at 4.01% for 3 years

Gwhiz

gozomark wrote: »

all the talk about Ireland struggling to raise finance
http://www.independent.ie/business/irish/83644bn-success-in-debt-raising-bid-1653697.html
They need to raise € 20bn this year - they have already raised € 10 bn, incl € 4bn in the last few days at 4.01% for 3 years

You should not post links like that. Don't you know only worrying news is allowed on here

gozomark

sorry, let me rephrase it - they need to raise 20bn - they've only done 10bn so far and its already nearly summer - better ? :-)

Gwhiz

gozomark wrote: »

sorry, let me rephrase it - they need to raise 20bn - they've only done 10bn so far and its already nearly summer - better ? :-)

Much, much better.