# Greek deposits - safe after bailout



## Alan Robert (12 Nov 2010)

Did any depositors loose their money in Greece after the bailout? Can we expect a similar outcome?


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## Lightning (12 Nov 2010)

Nobody in Greece lost their deposits.


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## Ethan 1 (13 Nov 2010)

Greek banks were solvent prior to the state bail out, Irish banks are not, so we are in uncharted water here.


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## Expat64 (13 Nov 2010)

Ethan 1 said:


> Greek banks were solvent prior to the state bail out, Irish banks are not, so we are in uncharted water here.



 That is the big difference. Although the Greek government is bankrupt, Greek banks are fairly sound as they didn't engage in idiotic lending practices.


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## Alan Robert (13 Nov 2010)

And if deposits are with An Post....hmmmm


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## Kev (13 Nov 2010)

Ireland in talks with EU about a bailout

http://www.bbc.co.uk/news/business-11750676


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## 1ofreviewer (13 Nov 2010)

+1. Have about 4K in An Post, should I move it ? and if so to where ?


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## Happy Girl (13 Nov 2010)

I am in the same boat with lump of money in Savings Certs. Am getting a little bit jittery about it. Apart from Keytrade/Nationwide(UK)/Rabo what other banks operating under anything other than the Irish Deposit Guarantee are available to us.


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## Marietta (13 Nov 2010)

Happy Girl said:


> I am in the same boat with lump of money in Savings Certs. Am getting a little bit jittery about it. Apart from Keytrade/Nationwide(UK)/Rabo what other banks operating under anything other than the Irish Deposit Guarantee are available to us.


 

Hi Happy Girl,
If the above three aren't enough to hoard your loot here is another one for you 
http://www.investec.ie/#home.html

Ethan 1 is right we are going into very unchartered waters right now. The government is telling us all is well and they not looking for a bail out, the G8 crowd were waving and smiling at us last evening signalling all is great with Ireland yet the BBC are today telling us we are in preliminary talks with the EU for a bail out.  So who is telling the truth??


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## Happy Girl (13 Nov 2010)

Thank a mil Marietta. Sad to say the 3banks I mentioned are more than able to cater for my "millions" and should I withdraw my funds from any of them they might hardly even notice not alone bring the bank "down". It's just with my overall fear of banks  at this stage that I want to spread the risk of losing any of my hard earned savings.


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## Marietta (13 Nov 2010)

Happy Girl - Keep a few grand under your pillow just to be sure to be sure, you might need to stock up on the baked beans and crisp bread if all hell breaks through next week.  Portugal are threatening to leave the euro now so if we follow suit we might be going back to our '_punts'_ before long.


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## 1ofreviewer (13 Nov 2010)

1ofreviewer said:


> +1. Have about 4K in An Post, should I move it ? and if so to where ?



I found some information in older threads from this year that say that An Post is state guaranted. What does this mean since its not listed as covered by 2010 Eligible Liabilities Guarantee (ELG) Scheme ? 

Irish Times seem to back this up (unable to add post due to site restrictions)

Is An Post the safest bet then ?


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## Alan Robert (13 Nov 2010)

I think it could be time to head for Sterling in a Northern Account. UK won't default as they will just open up the prinitng presses. Yes this will depreciate my savings relative to euro but not only do I feel saver but if we follow Portugal and left the Euro the devaluation of the punt would be brutal. I'd happily hold my money in sterling and as it appreciates against the punt i'll change it back as and when I need it to cover my living expenses. 
Think that's what i'll do.


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## pudds (13 Nov 2010)

Alan Robert said:


> I think it could be time to *head for Sterling in a Northern Account.* UK won't default as they will just open up the prinitng presses. Yes this will depreciate my savings relative to euro but not only do I feel saver but if we follow Portugal and left the Euro the devaluation of the punt would be brutal. I'd happily hold my money in sterling and as it appreciates against the punt i'll change it back as and when I need it to cover my living expenses.
> Think that's what i'll do.



Is it possible to do this without having a Northern address?


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## Alan Robert (13 Nov 2010)

I was told the other day, yes


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## Marietta (13 Nov 2010)

alan - sensible thinking there, sterling is probably the way to go. There isnt that much difference between the two currencies.  I moved to nationwideUk ireland a while ago now it looks i will have to go the same route as you. god i am sick of it all, the uncertainty of not knowing what's going to happen is mind boggling.


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## Alan Robert (13 Nov 2010)

what do you mean by their isn't mcuh difference between the two currencies? If you are referring to the nominal value €1=86p then this is a mistake. It is only what you think will happen the exchange rate and what interest rate you get in each currency that matters. If you know this already apologies for teaching you to suck eggs!


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## Marietta (13 Nov 2010)

i wouldn't worry too much about interest rates at this stage, safety of deposits is paramount at the moment.


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## Alan Robert (13 Nov 2010)

and would worry about the exchange rate? If sterling falls 15% to €1=£1 how would you feel?


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## Marietta (13 Nov 2010)

alan, it wont bother me in the least, i am making plans to move to the UK.


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## Alan Robert (13 Nov 2010)

well if you don't mind me saying Marietta that is only relevant to you. I thought we were having a discuss on finance and the pros and cons of going in and out of sterling with a view to needing euro for living in the short/medium term! I'm off to Brazil!!!


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## Marietta (13 Nov 2010)

well leave a few thousand euro here to keep you going and export the rest.


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## DocOc (14 Nov 2010)

*Any more info*



Alan Robert said:


> I was told the other day, yes


 
Hi Alan,
         Can you give more info on what bank gave you that info? Thanks.


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