Crisis in Ireland

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mmuller's picture
mmuller
Status: Member (Offline)
Joined: Apr 10 2011
Posts: 2
Crisis in Ireland

Here is an article in a leading Irish newspaper of May 15, 2011 entiteled:

"What would happen to your money if Ireland defaulted?"

http://www.independent.ie/business/personal-finance/what-would-happen-to...

james_knight_chaucer's picture
james_knight_chaucer
Status: Silver Member (Offline)
Joined: Feb 21 2009
Posts: 160
'If Ireland defaults and the

'If Ireland defaults and the Government clamps down on savings like the Argentines did, billions could leave the country. People would take desperate measures. "People with a bit of money would fly off to France and other European countries and open a euro bank account," '

Hmm. I wonder if they aren't already doing that. The Greeks too.

The problem is though, that if TSHTF, the other Euro countries will not allow anyone with an Irish or Greek address to withdraw their Euros. What they need to do really is go and exchange their Euros for Pound Notes, and bring them home. Then, they will always be able to spend them in the UK. (This will be fairly easy for the Irish, as the border is just a few hours drive away, and not controlled.)

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