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.
Debate House Prices
In order to help keep the Forum a useful, safe and friendly place for our users, discussions around non MoneySaving matters are no longer permitted. This includes wider debates about general house prices, the economy and politics. As a result, we have taken the decision to keep this board permanently closed, but it remains viewable for users who may find some useful information in it. Thank you for your understanding.
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
EU undermines banks
pqrdef
Posts: 4,552 Forumite
Normally when a bank is looking too shaky, the State bails out the creditors in order to maintain confidence in the banking system. Because we know what happens when that confidence evaporates.
The EU doesn't like this. It wants to haircut the creditors.
http://www.bbc.co.uk/news/business-18333240
Considering the woeful state of the balance sheets of most banks, which are only kept afloat by the belief that the State wouldn't allow them to fail, this is disastrous.
Expect the credit rating agencies to start slashing.
The EU doesn't like this. It wants to haircut the creditors.
http://www.bbc.co.uk/news/business-18333240
Considering the woeful state of the balance sheets of most banks, which are only kept afloat by the belief that the State wouldn't allow them to fail, this is disastrous.
Expect the credit rating agencies to start slashing.
"It will take, five, 10, 15 years to get back to where we need to be. But it's no longer the individual banks that are in the wrong, it's the banking industry as a whole." - Steven Cooper, head of personal and business banking at Barclays, talking to Martin Lewis
0
Comments
-
Iceland allowed their banks to fail
Ireland didn't allow their banks to fail
and just look what happened0 -
..........The changes will not be introduced before 2018.0 -
Yes. People still put their money in Irish banks.Iceland allowed their banks to fail
Ireland didn't allow their banks to fail
and just look what happened"It will take, five, 10, 15 years to get back to where we need to be. But it's no longer the individual banks that are in the wrong, it's the banking industry as a whole." - Steven Cooper, head of personal and business banking at Barclays, talking to Martin Lewis0 -
The changes will be introduced in 2018. A time when most banks will have been bailed out, and you'd hope things would be at least sorted.
In the meantime, they can fleece the taxpayer for as much as they require.0 -
Yes. People still put their money in Irish banks.
I must say I don't know the current state of either countries banks and to what extent the public will keep money in them or to what extent business will keep money in them.
The main issue to me is not the health of the banks but the state of the peoples of these countries.
Most of the discussions seem to talk about the banks, very little about unemployment or growth of their economies.
Have the Irish people benefited from bailing out their banks?
Have the Icelandic people benefited from not bailing out their banks?0 -
Yes. People still put their money in Irish banks.
well
it so happens that the telegraph today has an article on Iceland and Ireland
it seems that Iceland's credit rating has been upgraded from BBB- (junk) to BB+
and have been able to borrow $1bn sovereign bond
growth of 6% (presumably from a low base) and unemployment of over 7%
not good but not too bad either0
This discussion has been closed.
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 352.3K Banking & Borrowing
- 253.7K Reduce Debt & Boost Income
- 454.4K Spending & Discounts
- 245.4K Work, Benefits & Business
- 601.1K Mortgages, Homes & Bills
- 177.6K Life & Family
- 259.2K Travel & Transport
- 1.5M Hobbies & Leisure
- 16K Discuss & Feedback
- 37.7K Read-Only Boards