# Deposit accounts and 'Punt Nua'.



## Baggie (3 Sep 2011)

If I hold deposit accounts in Ireland in Swiss Francs will the creation of Punt nua [if it happens] mean they will be converted or is it only deposit and current accounts in Euros that will be converted?

Thanks in advance.


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## Lightning (3 Sep 2011)

99.99% likely, your CHF will not be converted. 

It is neither logistically nor practically possible for the Irish government to convert non EUR deposits into a new currency. 

When IRP was converted into EUR, only IRP denominated deposits were covered.


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## Baggie (3 Sep 2011)

Cheers.


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## Gekko (3 Sep 2011)

In such a scenario, the State could freeze your CHF denominated account and/or take 25% of its value as some kind of emergency tax.

That's more or less what happened in Argentina.

Once we're in "Punt Nua" territory, all bets are off and anything goes.


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## bryanod (5 Sep 2011)

Would have to agree with Gekko, not that we'll leave unless it completley unravels.


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