Agribank 5 yr Fix

londoninvestor

colsten wrote: »

Albeit we all did get our Icesave money back, courtesy of the UK Treasury.

And of course, that was at the time the system as a whole was in a panic and it was important to shore up confidence generally. The same wouldn't necessarily happen for an isolated foreign bank failure in more "normal" times.

Malthusian

colsten wrote: »

Malta was one of the countries where savers who had deposited over the protection limit got a haircut. Malta is also a country where bookies get away with robbing their customers of tens of thousands, with the full blessing of the Maltese Finance Minister, who is supposed to be their regulator. I wouldn't put it past them if they changed the rules for foreign depositors in mid-flight if a bank gets into financial difficulties.

Nor would I, but it has nothing to do with Brexit, which is the point I was referring to. If Malta does an IceSave it will affect all foreign depositors; the idea that Malta will pick that opportunity to punish UK investors for Brexit while still compensating Brazilian and Australian investors is far-fetched. For avoidance of doubt, I wouldn't put my money in this (although I wouldn't put my money in any five-year cash deposit).

Just like Iceland did, with Icesave. Albeit we all did get our Icesave money back, courtesy of the UK Treasury.

It is worth nothing that taxpayers eventually recovered the money from the liquidation of Landsbanki, although of course it was still a bailout of Icesave customers because they might not have done.