Eire- What happens after September?

[Deleted User]

Does anyone know what's happening in September when the Irish governments existing deposit protection legislation runs out?

alastair_h

Can't find anything about that, the following links don't seem to promising though. Personally I'd be out of there well before September:-

http://news.bbc.co.uk/1/hi/business/7832203.stm
http://news.bbc.co.uk/1/hi/business/7838185.stm
http://news.bbc.co.uk/1/hi/business/7840619.stm

gozomark

those links are a year old....

which bank do you have savings with ?

cottager

The date's mentioned and the details are at this page for the Financial Regulator, but I don't see anything about 'what happens next'.
http://www.itsyourmoney.ie/index.jsp?pID=125&nID=757

EDIT: now found this at a Post Office page
http://www.postoffice.co.uk/link/po/content2?catId=19300232&mediaId=92400749

What happens after the additional Irish Government guarantee arrangements expire?
The protection offered by the Irish Deposit Guarantee Scheme does not expire. When the additional Irish Government guarantee arrangements (which fully guarantee all savings held in Bank of Ireland) expire, savings customers will still continue to be covered by the €100,000 cover provided by the on-going Irish Deposit Guarantee Scheme.

paella

Doesn't this contradict itself. They say the Irish Government guarantees upto the 29 September but then says it doesn't run out. Or is the Government guarantee-ing ALL money now and after Sept 29 only the 100 Euros????

Help - I want to know if I need to move my money elsewhere!!

Baldur

paella wrote: »

Doesn't this contradict itself. They say the Irish Government guarantees upto the 29 September but then says it doesn't run out. Or is the Government guarantee-ing ALL money now and after Sept 29 only the 100 Euros????

Help - I want to know if I need to move my money elsewhere!!

It's not really much clearer from the table on the Irish Financial Regulator's website - http://www.itsyourmoney.ie/index.jsp?n=757&p=125#table but becomes clearer here - http://www.itsyourmoney.ie/index.jsp?n=757&p=125#guarantee

gozomark

If your money is with Anglo Irish, then its still 100% owned by the Irish State, even after Sept

Porcupine

If you want to read more threads on this, or ask other questions, you can see a Irish MSE-alike:
http://www.askaboutmoney.com/forumdisplay.php?f=69

jg73jg73

Am i right in thinking that if i invested £100,000 in three year bonds with allied irish i am still covered after 29 september 2010