Should I stay or should I go?

JonJoeDali

I have a large (ish) sum of money on high interest deposit with a well-known Irish bank and was wondering, given all the reports I'm hearing (and reading on Irish message forums), if I should get out now? I got scared back in 2008, but I was persuaded to stay because my father and my grandfather both banked with the same branch for the last 70 years. This time, it looks worse and I'm not convinced that the Paddies can govern themselves. I was offered a job here in England back in 2007 and, from looking at my peers now, it was probably the best decision I ever made. I've got the IBAN numbers all ready to go and I think I'm just going to click 95% of it out and forget about the sentimentality.

BuffyBot

I'm not sure what you want people to do? Encourage your own overly-emotional and simplistic reading of the situation? It's your money, only you can make the choice in the end..but at least make an informed choice.

eagle_i

It wasn't so long ago that ppl were lining up outside Northern Rock, a UK bank to withdraw their money! It initially started in the UK, then here in Dublin, Northern Rock only had a small presense here at the time. Yes, the current irish government are not winning people's confidence. But the UK are not out of the woods either. Comparing deposit guarantees here in Ireland it is €100,000, while in the UK it is stg£50,000 (€59,500 approx.), so it is really down to where you feel more comfortable having your money invested. Just because you have your money outside the irish banks does not mean a UK bank cannot hit the dust either. IMO our saving grace is the fact we are part of the Euro currency and the ECB (ie. France and Germany) are unlikely let us default as this will undermine the Euro.

jinx9000

take 50% and leave 50%............easiest answer!

should ireland default and return to punts..........what effect would that have on our savings and mortgages!