How to hold on to assets if Ireland leaves the euro

rmelly said:
so we don't have a single currency? next we'll have different ECB interest rates.
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It would seem so. And here was me (and the banks and government) thinking we had a common currency :rolleyes:.


This solves all our problems , was can devalue the "Irish Euro" tomorrow and lower our interest rate. Happy days.

I will phone Brian and let him know.
 
jhegarty said:
It would seem so. And here was me (and the banks and government) thinking we had a common currency :rolleyes:.


This solves all our problems , was can devalue the "Irish Euro" tomorrow and lower our interest rate. Happy days.

I will phone Brian and let him know.
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I suspect he's 3 steps ahead of you on this - it explains why he has been so calm over the last few months - he has this in his back pocket.
 
Paul Krugman has an interesting article in todays New York Times talking about members leaving the eurozone.
 
Going back to the original question almost a year and a half ago ..."how to hold on to assets if Ireland leaves the Euro" ... what about holding your money in a sterling bank account and see what happens for a few months... any ideas?
 
allthedoyles said:
53% voted NO to the Lisbon and now ye want to leave the euro zone ?

When are we all going to eventually see the mistakes of the past have us in this situation.

Ireland needs Europe AND needs the EURO !
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Ireland should never have joined the Euro.It was FF sucking up to Brussels.We are in the hole we're in now because of the disasterous bank guarantees given by the two solicitors 'managing' the economy and joining the Euro currency area.
 
Brigid said:
Going back to the original question almost a year and a half ago ..."how to hold on to assets if Ireland leaves the Euro" ... what about holding your money in a sterling bank account and see what happens for a few months... any ideas?
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Gold has gone up more than 20% since January, 2009, to May, 2010... silver more than 30% over the same period..
 
I suspect the scenario of Ireland leaving the Euro would be after recieving an EU/IMF bailout as Greece is recieving, thereby holding massive debt in Euro paying it back with a devalued Punt, increasing the cost to repay. It just doesn't make sense. Greece would be crazy to go back to the drachma, watch it dive, then wake up with a Euro Hangover.
 
mattmacg said:
So if Ireland leaves the euro, will the euros in my rabo direct account be safe?
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Rabo say they'd make a decision at that point which made sense, but in all likelihood they would be compelled to change it to 'Irish' euro's by legislation
 
Gringo said:
Rabo say they'd make a decision at that point which made sense, but in all likelihood they would be compelled to change it to 'Irish' euro's by legislation
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When did they say this, who asked them?
 
It is more likely, and quite realistic, that Germany leaves the Euro in time and leaves it to the rest of us in which case the Euro would then be left to reflect the fundamentals of the countries left in the Eurozone - with lots of debt behind most of the Euros stragglers. The question posed is realistic and you avoid the risk by buying assets in other currencies and/or a precious metal like Gold/Silver - this is why the precious metals are in a bull market. Most of the major currencies have huge debt loads against them.
 
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