We'd like to remind Forumites to please avoid political debate on the Forum. This is to keep it a safe and useful space for MoneySaving discussions. Threads that are - or become - political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.
We're aware that dates on the Forum are not currently showing correctly. Please bear with us while we get this fixed, and see Site feedback for updates.
Have all the Irish bank panic threads gone?

amistupid
Posts: 55,997 Forumite



Comments
-
Not much going on at the moment. AIB needs to raise 1.5 Billion Euros from somewhere and Moodys may cut it's ratings on bank debt covered by the government guarantee.0
-
-
.......the calm0
-
The risk of Ireland and the Irish banks going bust is low, so I wonder why councils in Britain are being advised to pull their money out. Just this month Norwich City Council withdrew 4 Million and East Lindsey District Council took out 5 Million (These are the one's reported - I wonder how many others are doing so?). According to an ELDC report they lost 1,000 Pounds of interest from AIB and 1% from Bank of Ireland.
If the risk is low, why are they being advised to withdraw the money? Is it just a case of councils not being able to have any risk at all? Look at 3.6 to 3.14 for ELDC's reasoning. I would be interested to know what people think. Are they being prudent or over-cautious without reason?
http://www.e-lindsey.gov.uk/committee/Published/C00000124/M00003610/AI00005430/$TreasuryManagementUpdate.docA.ps.pdf0 -
they are public officials, so will take the line of perceived least risk, esp. after Iceland.
safety in numbers - if others are doing it, then we should as well - no point sticking out, even if it does cost money0 -
they are public officials, so will take the line of perceived least risk, esp. after Iceland. safety in numbers - if others are doing it, then we should as well - no point sticking out, even if it does cost money
That is true! I suppose any council with money still in Irish banks will be criticized for "putting council taxpayers money at risk" and do not want to attract negative attention.0 -
The risk of Ireland and the Irish banks going bust is low, so I wonder why councils in Britain are being advised to pull their money out.
Ultimately, who is warning the councils to pull their cash from Ireland? What if that warning is actually an economic warfare assault, albeit wrapped up and served as "advice"?
After all, it's in the City of London's interests to sabotage the economic reputation of finance houses in other nations.
The cash that is withdrawn out of fear from those overseas banks will typically return to the UK where it can help plug the gaping holes in our domestic accounts....0 -
Ultimately, who is warning the councils to pull their cash from Ireland? What if that warning is actually an economic warfare assault, albeit wrapped up and served as "advice"?
After all, it's in the City of London's interests to sabotage the economic reputation of finance houses in other nations.
The cash that is withdrawn out of fear from those overseas banks will typically return to the UK where it can help plug the gaping holes in our domestic accounts....
Tin foil hats, get your tin foil hats!!0
This discussion has been closed.
Confirm your email address to Create Threads and Reply

Categories
- All Categories
- 348.3K Banking & Borrowing
- 252.1K Reduce Debt & Boost Income
- 452.4K Spending & Discounts
- 240.9K Work, Benefits & Business
- 617.2K Mortgages, Homes & Bills
- 175.7K Life & Family
- 254.1K Travel & Transport
- 1.5M Hobbies & Leisure
- 16K Discuss & Feedback
- 15.1K Coronavirus Support Boards