R
rmelly
Guest
well they won't be freezing my mattress (I hope).
They are.
But this is Rabo.IE
What if the IMF freezes all Irish accounts?
How likely is that?What if the IMF freezes all Irish accounts?
Ex-Bundesbank Boss Warns Of Euro Threat
One of Europe's most respected former central bankers has told Sky News there is a serious threat to the survival of the European single currency.
Karl Otto Pohl, president of the German Bundesbank from 1980 to 1991, gave the warning in an exclusive interview with Sky's Jeff Randall.
He said countries such as Ireland and Greece are in danger of defaulting on their obligations to the Euro zone.
He admitted the Euro was under intense pressure and heavily indebted countries could be forced out of the single currency.
"I think there are countries considering the possibility. It would be very expensive," he said.
"The exchange rate would go down, 50 or 60% and then interest rates would go sky high because the markets would lose all confidence."
In his view the right organisation to mount any financial rescue would be the International Monetary Fund. Although the IMF itself would require more funding to do the job.
According to this, NIB accounts would be treated like Rabo's, though I'm not sure what the legal basis for this would be. Many commentators seem to suggest that the IMF, etc. could freeze Irish euro accounts in these non-Irish banks..........Anyhow, lets just pretend it did happen...Rabo.ie would be frozen too. Right? Guarentee or no Guarentee. Finito.
Getting likelier by the day IMHO.
The government is doing nothing to address the severity of our financial situation.
If the IMF steps in, a freeze on all deposits is probable. Otherwise the rapid exit of cash from banks would be unstoppable.
Anyhow, lets just pretend it did happen...Rabo.ie would be frozen too. Right?
Guarentee or no Guarentee. Finito.
Now is the time to lock before many others follow suit.
what do you mean by that?
I presume he(she?) means stick your money in a fixed term account before the rates are cut due to Thursdays ECB rate cut.
Is there still time?
6 Months - Investec - 5.58% (Discuss here) Expires March 31st 2009
1 Year - Anglo-Irish Bank - 5.25%
2 Years - Halifax - 4.28%
3 Years - An Post - 4.19%
5.5 Years - An Post - 4.58%
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