Bond maturing-should I reinvest in anglo irish?

joemardo1

Hi there everybody,

My one year fixed rate bond is due to mature in anglo irish at the end of february 09. I was just wondering if it was your money would you feel confident enough in reinvesting in anglo irish for another year?

With all the hubabaloo thats gone on with anglo irish over the last few mths sometimes its hard to know what to do.

Some guy on the bbc newsnight have said "ireland has only one letter different from iceland and 6 mths behind iceland" a bit of a worrying statement that.

Where would you put your money now for another year? (under 50k). Not really interested in any stocks or shares, or anything with risk (though its ironic that having your money in a bank this last year is risky enough ..lol)

many thanks

Joe

gozomark

Bond maturing-should I reinvest in anglo irish?
I am

Primrose

As savers who got caught in Icesave, I'd be a little wary of another "foreign" bank and check around the various building societies to see what's on offer.

ANGLICANPAT

Invest in Ireland ? Dont think so. The Iceland Government has collapsed and I dont think the Irish one will stay the course either.

soulsaver

joemardo1 wrote: »

Hi there everybody,



Some guy on the bbc newsnight have said "ireland has only one letter different from iceland and 6 mths behind iceland" a bit of a worrying statement that.

Joe

Actually they said it was a 'joke doing the rounds' - so not worrying at all - except people will misquote it for whatever their personal agenda is...

malik999

OP - I think it depends on the deal being offered to you versus what other offers are around. I must admit given the choice i would rather be out of Ireland atm myself.

joemardo1

Hi again,

Well I got a run of the mill letter from anglo today informing me that they are no longer a member of the the Uk compensation scheme as under european law they are not allowed to as Ireland has a higher compensation scheme. The letter does not mention nationalisation by the Irish government atall.

I must admit I am very wary of keeping my money with them as their interest rate for a 1 year bond is just too good to be true in the current uncertain climate.

As an Irish person myself living in Uk I'd love to be certain that my money was safe for a further year but so much has happened with anglo that I think I'd rather be dependant on the Uk compensation scheme.

I'm still shopping around for a half decent interest rate when I do move the money from them, any further suggestion greatly appreciated.

Joe