if you live in Spain or Italy would you remove your savings and move them elsewhere?

The_White_Horse

I would.

I really think the EU has gone too far this time. Stealing from the citizens is a crazy act of desperation and shows that the EU is in a death spiral.

Our referendum should be brought forward, before it is too late.

Mrs_Bones

Given what has happened in Cyprus has torn up any of the suppose guarantees on bank deposits I'd be at the bank as soon as it opened to remove my money if I lived in a Euro zone country. The EU seems to have been under the impression they had build enough confidence in the banking system for this not to happen.

wotsthat

Where's elsewhere?

spacey2012

We are not on the ship, but we are chained to it and will go down with it.

Mr._Pricklepants

The_White_Horse wrote: »

I would.

I'd move it into UK property. Safe as houses.

michaels

Santander UK is UK regulated and prevented by the authorities from transferring large chunks of capital to Spain to shore up its parent...however in the hours before the Lehmans collapse billions were transfered from the London operation to the US. this probably broke lots of rules, however once it has happened the regulator can go whistle if they think they can reverse the transaction.

And yes I do have mony in Santander UK :eek:

Generali

michaels wrote: »

Santander UK is UK regulated and prevented by the authorities from transferring large chunks of capital to Spain to shore up its parent...however in the hours before the Lehmans collapse billions were transfered from the London operation to the US. this probably broke lots of rules, however once it has happened the regulator can go whistle if they think they can reverse the transaction.

And yes I do have mony in Santander UK :eek:

Counterparty risk is still at large. I can't imagine any deposit guarantee paying interest whilst sorting out claims.

Sampong

if you live in Spain or Italy would you remove your savings and move them elsewhere?

Hell yeah.

It might even be an idea to exercise a little forward thinking even if you're in the UK.

The_White_Horse

why don't the UK banks offer to take in all the deposits from our Eurozone friends. Transfer it over. make our banks safer, and f**k the Eur at the same time. Win win.

N1AK

I'd also suggest spreading assets and thus risk; I'd have already moved a noticeable amount out of Europe when the financial crisis was in its early days but this would encourage me to move more of it out of banks in the less stable European economies.

stinktankcynic

Property, gold, skills. A few choices. I could spend £100 down the pub, I could burn £100 to keep warm, I could be mugged over in the street, I could put the money in a safe, or i could put it in a bank. Your choice?