A run on the banks?

C

canicemcavoy

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It's quite an eye-opener that most postings in the "Deposits" are related to moving deposits out of Irish banks. I'm considering this myself, possibly sorting it out today. It seems that even with the guarantee, people no longer have confidence in the ability of the state to pay out on that guarantee if the worst happens.
 
It is interesting alright. People at work have been talking about it too, and I don't work in business.
 
Pulling out if the Euro is still a problem. In a previous post someone said the Rabo told them they would probably convert customers balances in to the 'New Punt' value. Which will of course devalue very quickly.
 
Happy Girl said:
Does anyone know if it is possible to transfer an Ulster Bank Account in republic to Ulster Bank Account in NI.
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Ulster Bank NI and Ulster Bank Ireland are seperate entities, so you can transfer monies between them in the normal fashion, but you will need to have seperate accounts in each entity. They give a pretty poor exchange rate too. So if you want to move your cash you will need to set up a new NI account, then move your money as you see fit.
 
From the BBC news Brian Lenihan says it only the Anglo Irish Bank and AIB and Nationwide building society that are in trouble but the BoI is OK.

Does this link makes sense

[broken link removed]
 
With the extra money the government is pumping into AIB, are they (we) going to ending up with the majority stake holding in the company?
Just read the link, so yes (@80%) is the answer.
 
canicemcavoy said:
It's quite an eye-opener that most postings in the "Deposits" are related to moving deposits out of Irish banks. I'm considering this myself, possibly sorting it out today. It seems that even with the guarantee, people no longer have confidence in the ability of the state to pay out on that guarantee if the worst happens.
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This is normal at a time like this ?
Fear its called .
Of what MIGHT happen.
I presume that if there was to be a run on the banks , things WOULD get worse and aid in the downfall of some of them .

On the other hand ,
i presume there a lot of people who think things will be ok and the EU will help us get it sorted out , but they are NOT posting it !!!!!
there are 106k views of the best buy thread !!

Who knows.
 
From Lenihan's tv intereview on BBC he said that they were not going to default on loans and had money put by for that.

Also it would be very bad for EU as a whole if a bank went belly up. Look at the UK in 2007/8 a lot of banks merged this would make more sense.
 
A bnk doesn't have to go belly up for a run on deposits to happen. That's due to confidence, and currently there is a national lack of confidence in the government's economic policy.
 
Kev said:
From Lenihan's tv intereview on BBC he said that they were not going to default on loans and had money put by for that.

Also it would be very bad for EU as a whole if a bank went belly up. Look at the UK in 2007/8 a lot of banks merged this would make more sense.
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As for your first point, well it all depends on whether you trust Len with your savings.
 
glasto said:
Ulster Bank NI and Ulster Bank Ireland are seperate entities, so you can transfer monies between them in the normal fashion, but you will need to have seperate accounts in each entity. They give a pretty poor exchange rate too. So if you want to move your cash you will need to set up a new NI account, then move your money as you see fit.
Click to expand...
I have heard of people opening accounts in NI with addresses here in the south - is that possible?
Can you open a Euro account in the north?
 
glasto said:
As for your first point, well it all depends on whether you trust Len with your savings.
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thats true .
they did say on primetime (Tues night) that we had the finance IN place already till June next year . Then he said today , we would be borrowing any more money at the moment as the interest rate was too high .We would wait for a few months and hopefully the rate will be down .
Which SEEMS to add up .
 
penguin said:
thats true .
they did say on primetime (Tues night) that we had the finance IN place already till June next year . Then he said today , we would be borrowing any more money at the moment as the interest rate was too high .We would wait for a few months and hopefully the rate will be down .
Which SEEMS to add up .
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This is correct this is an extract from the link below:

Lenihan said Ireland, which is fully funded until late June 2011, had decided to cancel its bond auctions in October and November and would return to the bond markets as normal in early 2011.

http://www.msnbc.msn.com/id/39432784/ns/business/
 
On the other hand ,
i presume there a lot of people who think things will be ok and the EU will help us get it sorted out , but they are NOT posting it !!!!!
there are 106k views of the best buy thread !!

Who knows.
Click to expand...

For what it's worth, I have no fear of banks, or Ireland going bust to the point where I will not be able to access savings. 90% (not an enourmous sum) of my savings are in Anglo.
 
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