Irish banking shares in complete meltdown (again)

What are the chances of the government nationalising the 2 remaining banks and at what cost. do they hold enough shares to force a nationalisation in the likes of AIB and BOI. ?
 
Digger said:
What are the chances of the government nationalising the 2 remaining banks and at what cost. do they hold enough shares to force a nationalisation in the likes of AIB and BOI. ?
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You don't have to hold any shares to nationalise a bank. You just do it. I can't see it happening but I have given up trying to predict anything! They will end up owning a bigger share of the banks as I think they will end up having to buy the shares that they agreed to underwrite. Will probably have to put inmore money in as well.
 
diarmuidc said:
You were investing while still having a €6500 credit card bill? I recommend rethinking your financial planning.
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100% with you there brother.

I was working for AIB at the time so, aside from a once yearly deduction from my salary I wasn't paying any money out and was getting 50% of my holding as part of my annual package.

I was stupid beyond belief to not pay it off when I could and the bill is larger now and my shares worth less than a tenth of what I owe.

I suppose the only positive is that I have learned a lesson.
 
I have an awful feeling worse is to come this week. Don't ask me why but looking at what is happening, I fear systemic failure of the banking system here and in Britain.
Maybe it's just my spider senses!
 
I just got back from BOI VOR. Getting most of my money out.

Banks look like Enron in the final days.
 
NHG said:
Sorry to go slightly of topic, but how is the dollar doing and where can I watch it, should I be buying dollars before Obama takes over tomorrow. (did'nt know that I needed dollars until friday)
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Try www.xe.com
 
Mercman,

Have you had anymore problems getting rent from your banking tennants or is Her Majesty footing the bill now?
 
lemur

why would you take your money out. its 100% guaranteed by the banks. RBS's results were shocking today. it looks like we are on the cusp of a new leg down in the stock market starting tomorrow in the US
 
Guaranteed by who? Backed by what.

The meltdown in bank shares today is a red flag systemic risk warning.
 
guaranteed by the irish govt.

meltdown is due to investors pulling their money out of the banks as they fear they will be nationalised. if they are nationalized then shares will be wortless but deposits will be safe. no point in taking your money out
 
jimbobman said:
guaranteed by the irish govt.
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Given that the gubbermint is likely to be $20bln in the red this year with revenues falling, where would the funds come from to fund this guarantee?.

Hint: It would have to borrow it. Today, Ireland's credit rating was downgraded increasing the cost of borrowing. If push came to shove and the gubbermint had to bail out the banks with actual cash, I doubt they could actually raise the money.
 

Does the government have access to a limitless pool of cash?
 

Quite right. Lemur, things are bad and sure to get worse but your money is better in a bank with a guarantee than under the matress.
 
Never said I put in under the matress. I moved it off-shore.
 
The government's guarantee scheme is as sound as it ever was.
 
terrontress said:
Does the government have access to a limitless pool of cash?
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I have been wondering what would happen if a government started to print their own 'euros'. I remember a thread where someone said when abroad they would only accept notes from their own country.
 
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