Euro crumble, money safe in Irish banks?

david4791

Hello,
I have a colleague who has > 100k in Bank Of Ireland, if the Euro fails what will happen to the monies over the 100k covered amount by the bank?

Should he leave it and see what happens

rameire

nothing will happen.
his money is safe

david4791

Excuse the pun, but can he bank on it?

rameire

nope

adox

There is a big possibility it will lose value at best if we revert back to our own currency. The logical step after going back to our currency would be to devalue it.

Personally I wouldnt leave such a big deposit in an Irish bank under current circumstances.

Freiheit

Would Rabbo bank be any safer given that it's Dutch? and they are likely to remain in the 'German Block',whatever happens. Does anyone know if accounts can be opened in German banks from Ireland?.

rubadub

Freiheit wrote: »

Would Rabbo bank be any safer given that it's Dutch?

There were many posts about this on askaboutmoney, and replies from Rabbo. I think the Irish governemnt could somehow force you to convert rabbo money into "punt nua" (if they wanted). There were other ways to secure it as euros or higher value currency which may not devalue as much, like buying german government bonds. Another was buying international blue chip stocks.

Enoughisenoug

david4791 wrote: »

Hello,
I have a colleague who has > 100k in Bank Of Ireland, if the Euro fails what will happen to the monies over the 100k covered amount by the bank?

Should he leave it and see what happens

Get ur money out of euro, into a uk or American bank. The euro will collapse . People should stop paying there mtg and save money in uk/ American bank. Enough is enough.

Pablo Sanchez

rubadub wrote: »

There were many posts about this on askaboutmoney, and replies from Rabbo. I think the Irish governemnt could somehow force you to convert rabbo money into "punt nua" (if they wanted). There were other ways to secure it as euros or higher value currency which may not devalue as much, like buying german government bonds. Another was buying international blue chip stocks.

Any money in Rabbobank Ireland would simply be converted to the punt/2nd tier Euro, while the bank is Dutch, its still an Irish account.

Obviously if you open a Dutch account that would be a different story.

Nothing is likely to happen anyway.

Enoughisenoug

Pablo Sanchez wrote: »

rubadub wrote: »

There were many posts about this on askaboutmoney, and replies from Rabbo. I think the Irish governemnt could somehow force you to convert rabbo money into "punt nua" (if they wanted). There were other ways to secure it as euros or higher value currency which may not devalue as much, like buying german government bonds. Another was buying international blue chip stocks.

Any money in Rabbobank Ireland would simply be converted to the punt/2nd tier Euro, while the bank is Dutch, its still an Irish account.

Obviously if you open a Dutch account that would be a different story.

Nothing is likely to happen anyway.

They can't touch it if u open the account in England! People need to save money as the country will collapse and more than likely the euro

bangra bangra

Enoughisenoug wrote: »

They can't touch it if u open the account in England! People need to save money as the country will collapse and more than likely the euro

If you have an account with bank of Ireland in the uk, would the euro you transfer from your irish account be safe or do you mean an English bank? Thanks

BuffyBot

Pointless, scaremongering thread which (barely) fits the forum's remit. I think we'll let it die, because it's been done to death many times already.