How to hold on to assets if Ireland leaves the euro

Well Ireland get booted out, then printing money etc is our problem. Doubt the EU will care too much.

Software changes shouldn't be too bad. Banking systems are already multi-currency. We've already done it once for the Euro change over. In most cases, it'll just be a simple case of changing labels from €s to NIrl£ (new Irish punts AKA berties)
 
But we can't be kicked out.

We can leave , but it's process that would take years. There could be no freeze on the assets or money during that time.
 
ExEircom said:
Why Not.....
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The first reason that springs to mind is that we would have a veto on any vote.

Even then you are talking about us been kicked out of the eu , you can be in the euro but not in the eu.

I don't think there is any method to forceably stop a country using a currency.
 
jhegarty said:
Yep that it.

You could just withdraw your money the day it's announced and ryanair to London to open a sterling account.


There is no "Irish Euro", just a euro. The money in your pocket is exactly the same as someone in Berlin. You can't freeze that money unless you plan to close the border, and freeze any account and financial transactions in the country for 12 months.
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You better check your euro coins again. irish harp.....in my hand i have 5 cent coin eire 2007 anf a spanish 1 euro coin.
 
cleverclogs7 said:
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You better check your euro coins again. irish harp.....in my hand i have 5 cent coin eire 2007 anf a spanish 1 euro coin.
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That's only a picture on the back. A coin is no more irish with a harp than any other euro design.

By that logic because they didn't use any Irish bridges on the notes then we don't have any paper money at all.
 
The Euro has issues of it own as seen in this article:
Support for euro in doubt as Germans reject Latin bloc notes
http://www.telegraph.co.uk/finance/...doubt-as-Germans-reject-Latin-bloc-notes.html

X-factor: German bank customers are favouring notes that start with the distinctive ?X? serial numbers, which show they have come from Berlin

Notes printed in Berlin have more currency for bank customers who fear a 'value crisis'

Ordinary Germans have begun to reject euro bank notes with serial numbers from Italy, Spain, Greece and Portugal, raising concerns that public support for monetary union may be waning in the eurozone's anchor country."

Think Germans might also be worried about Irish euro bank notes.
 
george.shaw said:
Ordinary Germans have begun to reject euro bank notes with serial numbers from Italy, Spain, Greece and Portugal, raising concerns that public support for monetary union may be waning in the eurozone's anchor country."
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In other new ordinary Germans apparently don't understand what a common currency is.
 
From the Telegraph article - "
Italian notes have an "S" from the Instituto Poligrafico in Rome, and Spanish notes have a "V" from the Fabrica Nacional de Moneda in Madrid. The notes are entirely interchangeable and circulate freely through the eurozone and, indeed, beyond.
People clearly suspect that southern notes may lose value in a crisis, or if the eurozone breaks apart. This is what happened in the US in the Jackson era of the 1840s when dollar notes from different regions traded at different values.
"The scurrilous idea behind this is that if the eurozone should succumb to growing divergences, then it is best to cling to most stable countries," said the Handelsblatt."

Germans know what a common currency is and know that the profligacy of the PIGS might cause them a lot of financial and economic pain. Some obviously also realise that if one of the PIGS was order forced to leave the euro or decided to leave in order to devalue their currency - then the Spanish, Italian or other bank notes might not be as valuable as the German banknotes as happened in the US in the 19th century.
 
Without the Euro we would be worse off then Iceland...it is only the power of this mass currency that's keeping us afloat in this sea...but it'd be pretty neat to hold a million PUNT bill with NO value...
 
george.shaw said:
Germans know what a common currency is and know that the profligacy of the PIGS might cause them a lot of financial and economic pain. Some obviously also realise that if one of the PIGS was order forced to leave the euro or decided to leave in order to devalue their currency - then the Spanish, Italian or other bank notes might not be as valuable as the German banknotes as happened in the US in the 19th century.
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Look at the notes in your pocket. It is issues by the European Central Bank and signed by the President of the European Central Bank.

That is the difference between now and 19th century America, there was no central issuer of notes.

The use of the term German Banknotes is wrong , there is no German bank notes. Unless you can find a note issued by the German central bank ?
 
Errrr - i suggest you read or re read the Telegraph article:
"Each country prints its own notes according to its economic weight, under strict guidelines from the European Central Bank in Frankfurt. The German notes have an "X"' at the start of the serial numbers, showing that they come from the Bundesdruckerei in Berlin."

Look at any euro note and find the top right-hand corner of the side with the map. Preceding the serial number is a letter in the tiniest of prints. This is a code for the central bank that commissioned the note, though not necessarily the country of printing. If you have one with the letter Y – the code for Greece – you might want to swap it after last week's humiliating decision by Standard & Poor's to downgrade the country's sovereign debt from A to A-1.


The downgrade came after the Greek government carried out an unusual €2.5bn (£2.3bn) debt sale issued as three-month notes, rather than longer-term bonds, suggesting that it knew investors wouldn't want the long-term debt. Indeed, interest spreads on Greek 10-year bonds are now trading 245 basis points higher than German bunds – despite inflation falling rapidly in the second-half of last year.

But Greece's problems are not a surprise to many German savers who have been worrying about the growing economic rift between the north and south for months. What's more, they have been boycotting euros coded from the south and demanding their own bank notes – letter X. According to German reports, more ordinary savers are withdrawing money from branches rather than cash machines as it makes it easier to screen the notes. If the notes carry the Y, or S for Italy, or V for Spain – savers are asking for them to be exchanged for X-rated euros printed by the Bundesdruckerei in Berlin.
http://www.independent.co.uk/news/b...not-allow-a-modern-greek-tragedy-1418578.html

Europe will of course attempt to stop a modern Greek tragedy but given the scale of this crisis, whether it is successful is an entirely different matter.
 
If it really worked like that then there would be a exchange rate between the different euro countries that fluctuated all the time.

Where can I get an exchange rate for "German Euros" ?
 
so we don't have a single currency? next we'll have different ECB interest rates.
 
Errrr, think the two articles clearly point to the fact that some Germans are worried that at some stage in the coming months/ years, the euros issued by the PIGS countries may become worth less than the German ones (especially if they go bankrupt). There concerns may be overblown but there are real as seen in the two articles (one in the Euro skeptic Telegraph and one Tony O'Reilly's UK Independent).
 
another reason to vote No to Lisbon? the eurocrats have been misleading all these years about the so called single currency?
 
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