If the Euro goes bust????

djPSB · 09-12-2011 3:50pm #1

I am thinking about emigrating to OZ i the next year or so.

So I was wondering if the Euro was to go bust and supposing I had savings of €5000 heading to OZ, or £5000.

Would my money be worth less if the Euro went bust and I was converting my money from our new currency to Australian dollars, or would I be better off to change my money to Australian Dollars while we are still part of the Euro currency??

ThePower11 · 09-12-2011 3:52pm

If the Euro goes bust you're €5000 will be worthless, change it to GBP's just in case.

Anyone · 09-12-2011 4:52pm

ThePower11 wrote: »

If the Euro goes bust you're €5000 will be worthless, change it to GBP's just in case.

What happens if GBP goes bust?

UglyBolloxFace · 09-12-2011 7:05pm

Anyone wrote: »

What happens if GBP goes bust?

It won't. It's the strongest currency on the world market.

10-12-2011 2:33am

UglyBolloxFace wrote: »

It won't. It's the strongest currency on the world market.

What makes you think that?

tenchi-fan · 10-12-2011 3:32am

ThePower11 wrote: »

If the Euro goes bust you're €5000 will be worthless, change it to GBP's just in case.

Actually it would make more sense to convert it to Australian Dollars.

JCabot · 13-12-2011 2:24pm

Im in this boat aswell have money from the sale of a house sitting in the bank and not sure what to do with it. I put some into sterling and a little into dollars and mistakenly invested some which was a bad move. I afraid that what I have left may become worthless but no point in buying another house just for the sake of it.

djPSB · 13-12-2011 4:58pm

Right so I think the best thing to do is change my money to Australian Dollar ASAP.

Whats the best way to go about this??

Can I do it in Irish banks??

Ideally, I would like to set up an Australian Bank account even though I don't have an Australian Visa yet.

Jet Black · 13-12-2011 6:44pm

I don't think you can unless you are a resident of the country. The rate is **** compared to last year too. It was over 2 dollars to the euro, now its around 1.26 to the euro. Although can't see it going back to that unless Australia goes down the tubes. They have their only property bubble but hopefully they learnt from the rest of the world.

You could change it to cash or travellers cheques but it would cost a bit for them.

Random · 13-12-2011 6:46pm

i think you should do a little more research than a post on one internet forum with 2 or 3 replys from people you dont know.

ush · 14-12-2011 3:42am

If the Euro goes bust, stock up on bottled water, canned food and ammunition.

DidYouSquirt? · 14-12-2011 4:18am

Does it really become completely worthless? or just of much much less value? :eek:

merlie · 14-12-2011 4:45am

They will find a way to stop the euro crashing. They always have a bill or some sort of back up that will stop it. The leaders no matter what will hang on for dear life even to the last crumbs. So no I don't see it going just a lot of new safety nets put in place to keep it afloat!

Sandel · 14-12-2011 5:32am

Euro will remain stable till Germany is backing it up. It has its crashing period because economically instable countries: Greece(main one), Portugal, Spain, Italy and till mid 2012 Ireland (and I'm being optimistic). Keep your eyes on the market in January and February 2012 and if you see Euro as a bad investment buy different currency or invest it •risky•. (I would buy Canadian Dollars-one of the safest currency to date IMO).

tenchi-fan · 14-12-2011 2:34pm

Sandel wrote: »

Keep your eyes on the market in January and February 2012 and if you see Euro as a bad investment buy different currency or invest it •risky•. (I would buy Canadian Dollars-one of the safest currency to date IMO).

Obviously this is not advice for the op, who is going to Australia in less than a year.

If the Euro goes bust????

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