hedging against ireland leaving euro

Hi

I am looking for opinions on this…..
If Ireland leave the euro & go back to the punt we will all have to take devaluation so our savings will be worth less.
I have savings with rabo that hopefully I wont have to access for a few years & I was thinking of buying into some of their more stable investments (bonds etc) .
In the event of Ireland leaving the euro these investments would stay quoted in euro until you cashed them in.
Then some time in the future when the valve of the punt had risen (hopefully) you could cash them in . Is this a hair-brained idea?

[FONT=&quot]Thanks[/FONT]

Hi there, if no-one minds me piggybacking on this post, could Ireland be "forced" to leave the EU. I suppose my concern is, if we are forced to do something like this, all mortgages would sky rocket, as the new currency taken on by Ireland would be valued less than the Euro, and the mortgages we took out in Euros would be massive..

Is this a scenario that could happen??
P..

investment funds with rabo outside of euro

i was wondering about this point also, surely money invested in a a rabo fund which is invested in companies outside of euro area, even though quoted in euro, should appreciate if the value of the euro depreciated, for example if i was in a canada specific fund quoted in euros with rabo, surely the fund would not suffer in a big euro depreciation afterall the fund is invested in stocks outside of euro

Just open a savings account in Germany.

Rabofunds mostly invested and well diversified in non-eurozone countries -that's my hedge. I've noticed that my valuations benefit from Euro depreciation - that's not to promote Rabo - any funds invested in such a way would do. For someone with a lot of euro denominated debt, it helps.