Honahan comment on the 9 o'clock news - strange

O

onekeano

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When asked about the depositors in the Irish banks (in the context of Anglo being closed down), Honahan started off by saying "well all of the deposits in the Iirish banks are currently covered to €100k" followed some comments about being backstopped by the ECB etc .

Maybe I'm being paranoid here but I'm just wondering why he used that word "currently" in his opening sentence?

Roy
 
I would read nothing into it. There is an expiry date on the guarantee. It won't be withdrawn before then. If it is to be withdrawn, you will get plenty of notice.
 
I also picked up on the word "currently"

Pal of mine has a son in Australia. Has moved his money to Commonwealth Bank. It has AA rating.

Worth considering.
 
bpb52 said:
I also picked up on the word "currently"

Pal of mine has a son in Australia. Has moved his money to Commonwealth Bank. It has AA rating.

Worth considering.
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Over the past few months I've been buying funds (pretty diverse mix) thrrough Rabo which is AAA+ so I think I'll continue with that as they cover non € markets. Don't really fancy backing the € over the next 12 months.

Roy
 
Notice how Honohan and Dukes have announced that Anglo will change its name in a few weeks and will be a thing of the past. Jayz, they make it sound as if all that is needed to erase this nightmare is to eradicate the Anglo name. If that was all that was needed why did they not do that 2 years ago?
 

Especially when by all accounts that are planning on calling it 'Bank Nua'. Someone should tell them not to bother!
 
Brendan Burgess said:
I would read nothing into it. There is an expiry date on the guarantee. It won't be withdrawn before then. If it is to be withdrawn, you will get plenty of notice.
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How do you know that we will get plenty of notice?? It seems unlikely to me.

If the guarantee were to be withdrawn under sunny circumstances when everyone had so much confidence in Irish banks a guarantee was not needed maybe there would be notice. But that isnt going to happen in the foreseeable future.

If the guarantee were to be withdrawn under different circumstances such as the govt became unable to support it, I doubt they would give notice.
 

how likely is this to happen?
 
cremeegg said:
If the guarantee were to be withdrawn under different circumstances such as the govt became unable to support it, I doubt they would give notice.
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If the government can't support it then there is no guarantee so there's no point in worrying about them withdrawing it.
 
@brendan
Honohan was referring to the DGS limit of €100k which has no end date.
 
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