Brian Dixon
- Location: Dover
- Registered: 23 Sep 2008
- Posts: 23,940
barry,i havent a euro dream,so cant be shatterd.but in responce to what you have posted and what i've read in the papers etc.it all boils down to panic by polictos which upsets the stock markets etc.
Guest 655- Registered: 13 Mar 2008
- Posts: 10,247
Bond markets, Brian, not specifically the stock markets though the latter are affected by uncertainty - the Bond Markets are ones on which government debt is traded, that debt which may be defaulted on due to irresponsible government borrowing and the straight-jacket of the Euro preventing devaluation to reflect the real value of the individual countries economy.
Keith Sansum1
- Location: london
- Registered: 25 Aug 2010
- Posts: 23,942
looks like this is another of those threads that will go on and on as none of the parties will be brave enough to bite the bullet
ALL POSTS ARE MY OWN PERSONAL VIEWS
Guest 698- Registered: 28 May 2010
- Posts: 8,664
Roger, Cypriot banks have so much invested in Greek bonds that in the event of a default the banks would all be bankrupt instantly, wiping out all their shareholders' funds and causing them to default on deposit repayments. The scale of the default would be unmanageable for the Cypriot government.
http://www.businessweek.com/ap/2012-05/D9UT6R9O0.htmI'm an optimist. But I'm an optimist who takes my raincoat - Harold Wilson
Guest 653- Registered: 13 Mar 2008
- Posts: 10,540
Thank You Peter. Not sure where my brother has his money - I'll ask him.
Roger
Guest 655- Registered: 13 Mar 2008
- Posts: 10,247
Be very careful about holding money in Euros at the moment or in southern European banks. Even with cash held in UK institutions make sure you keep under the £85,000 compensation level but be careful about 'groups' as the limit would normally apply to all banks in a group.
Guest 710- Registered: 28 Feb 2011
- Posts: 6,950
Roger #25
"...Currently, UK savers with the Bank of Cyprus UK are protected - up to €100,000 - by the Cypriot Deposit Protection Scheme, not Britain's Financial Services Compensation Scheme. However, the bank is currently engaged in an incorporation process which will see its UK savers protected by the FSCS by late July "
From...
http://www.guardian.co.uk/theguardian/2012/may/21/corrections-and-clarifications1Ignorance is bliss, bliss is happiness, I am happy...to draw your attention to the possible connectivity in the foregoing.
Guest 655- Registered: 13 Mar 2008
- Posts: 10,247
True, but the crisis could overtake that deadline, there is a risk that Cyprus could be another Iceland and there is always the Euro currency risk. Play safe, avoid Euros, use UK FSCS banks and keep under the £85,000. I would also suggest people should have money, however much they have, split between at least two institutions. We are entering a dangerous period.
Guest 710- Registered: 28 Feb 2011
- Posts: 6,950
Mmmm. Let us hope also that Joshua is distracted from his journey to Jericho.
Ignorance is bliss, bliss is happiness, I am happy...to draw your attention to the possible connectivity in the foregoing.