Deposit accounts and 'Punt Nua'.

B

Baggie

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