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SocGen Euro Shares
Speacial_kay
Posts: 1 Newbie
Hi,
I understand that SocGen are is not covered by the FSCS, its covered by the French compensation scheme, but my question is, say the Euro collapses, I take it the bank would have to convert the Euro shares back into Francs, or would the shares just cease to excist ?
I mean the French goverment cant bail out a bank which was trading in Euros one day and then not the next. Or would they, it looks so very messy.
K
I understand that SocGen are is not covered by the FSCS, its covered by the French compensation scheme, but my question is, say the Euro collapses, I take it the bank would have to convert the Euro shares back into Francs, or would the shares just cease to excist ?
I mean the French goverment cant bail out a bank which was trading in Euros one day and then not the next. Or would they, it looks so very messy.
K
0
Comments
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Not following; the FSCS or the other EU schemes do not cover the shares, just deposits.
Not sure why you'd think France would leave the Euro any time soon. But yes if they did, the shares would be converted to Francs. Deposits in accounts likewise I assume.“I could see that, if not actually disgruntled, he was far from being gruntled.” - P.G. Wodehouse0
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