Greece default

ipri

Just out of interest....does the Bank of England really have enough money to refund all the savers in the country up to £85K?

talexuser

A very good question... and the probable answer is all they would have to do is print it?... anyone for the Weimar republic?

Reaper

ipri wrote: »

Just out of interest....does the Bank of England really have enough money to refund all the savers in the country up to £85K?

The money doesn't come from the Bank of England, it comes from the other members in the FSCS group (banks, IFAs etc).

Though in the original crisis the govenment lent the FSCS money to stop them having to pay out too much in one go from their subscriptions.

talexuser

It's an interesting question as to how many 85ks the FSCS fund could accomodate, and the goverment would surely have to step in if there was another run like Northern rock that broke the fund?