Strling does not seem to be weak when you try to exchange the euro to it.
Sterling is strong when compared to early 2009, but it is very weak when comparing more historically up to 2007. Sterling is a weaker currency than the euro.
Strling does not seem to be weak when you try to exchange the euro to it.
Strling does not seem to be weak when you try to exchange the euro to it.
This is a very tempting offer but I'm wary about putting my life savings into it.
What do you think are the chances of the banks going bust in the next 2 years and the government not being able to pick up the tab? If you had to put a percentage on it? 1% chance? 10%? 90% chance
The banks are already bust, the question is whether the state will follow suit and what the likelihood of that is. In my opinion it is very high and only increasing.
Doesn't this rate smack of desperation? Why pay such a huge amount over swap rates, and way more than the competition. It almost makes one wonder about BoI's funding base and liquidity position to be putting out offers like this. And if you are looking at 2 year returns where you are exposed to Irish government risk, why not buy 2 year government bonds where the yield is around 9%?
There is currently a €100,000 guarantee by the Irish government. After that you've a lot of pseudo-economists claiming that UK and European banks would be a safer option without anything to back those statements up.
A branch manager told me today that this product is being extended until at least 25th June.
Yes.
75.52% chance of default inside the next 5 years.
91.35% chance of default inside the next 10 years.
The Economist this week called a default "inevitable".
Totally agree.
It's a very high rate due to IMF pressure for a 122% loans to deposits ratio, pressure from the ECB to decrease the huge emergency liquidity and desperation for deposits.
great rate im going for it
I tend to believe the EU will not allow depositors in any member state to be burned, even if the country defaults on (or "restructures") its sovereign debt. I would say a greater risk is that our deposits will be eroded by high inflation. But I'm no expert.
Or just creamed off by the government in the form of a levy to improve something or other.