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 Post subject: Re: Eur Wedge On De Edge
PostPosted: Thu Dec 15, 2011 7:43 pm 
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First Time Buyer

Joined: Jun 10, 2010
Posts: 86
It's a funny old world when the ECB are cutting rates and the banks are pushing up savings rates.
For sure they saw their coffers swell over in the last few years but now the tide has turned.


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 Post subject: Re: Eur Wedge On De Edge
PostPosted: Fri Dec 16, 2011 1:53 pm 
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Got engaged last weekend.

Looking forward to getting some of the wedge out of cash and into precious stones ;)


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 Post subject: Re: Eur Wedge On De Edge
PostPosted: Fri Dec 16, 2011 1:55 pm 
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jammyBastard wrote:
Got engaged last weekend.

Looking forward to getting some of the wedge out of cash and into precious stones ;)


Commiserations, ah no i mean congratulations.

Thing is you ll never see that money again and a lot more besides 8DD


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 Post subject: Re: Eur Wedge On De Edge
PostPosted: Fri Dec 16, 2011 1:58 pm 
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kennyb3 wrote:
jammyBastard wrote:
Got engaged last weekend.

Looking forward to getting some of the wedge out of cash and into precious stones ;)


Commiserations, ah no i mean congratulations.

Thing is you ll never see that money again and a lot more besides 8DD


Cheers!

I'm handing it all over. I can't take the pressure any more. I don't want a wedge. :P


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 Post subject: Re: Eur Wedge On De Edge
PostPosted: Fri Dec 16, 2011 2:55 pm 
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Congrats! Love is the most precious thing.

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"History doesn't repeat itself, but it does rhyme" Mark Twain


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 Post subject: Re: Eur Wedge On De Edge
PostPosted: Fri Dec 16, 2011 7:18 pm 
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Too Big to Fail

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jammyBastard wrote:
Got engaged last weekend.

Looking forward to getting some of the wedge out of cash and into precious stones ;)


Congratulations.

Have you set a date yet?

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 Post subject: Re: Eur Wedge On De Edge
PostPosted: Fri Dec 16, 2011 7:54 pm 
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jammyBastard wrote:
Got engaged last weekend.

Looking forward to getting some of the wedge out of cash and into precious stones ;)



Well done to you and a hearty congratulations.
8DD

(edited to correct a spelling error!)

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 Post subject: Re: Eur Wedge On De Edge
PostPosted: Fri Dec 16, 2011 10:19 pm 
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Congrats. Head to the Dam for the Rock. Got ours in Gassons at the airport tax free and saved €800 notes on a half carat. (Granted we were passing through anyways but you could have a hell of a weekend out of it)


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 Post subject: Re: Eur Wedge On De Edge
PostPosted: Sat Dec 17, 2011 1:23 pm 
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How would folks rate the chances of an Irish pillar bank failing in 2012 and defaulting on deposits above the guarantee limit? Trying to make some decisions regarding wedge at the mo. Euro collapse is less of a worry, to be honest.

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 Post subject: Re: Eur Wedge On De Edge
PostPosted: Sat Dec 17, 2011 1:58 pm 
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Posts: 1424
ps200306 wrote:
How would folks rate the chances of an Irish pillar bank failing in 2012 and defaulting on deposits above the guarantee limit? Trying to make some decisions regarding wedge at the mo. Euro collapse is less of a worry, to be honest.


The guarantee on deposits is unlimited at things currently stand.

The government does not have the wedge to support the guarantee if it was ever utilised.


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 Post subject: Re: Eur Wedge On De Edge
PostPosted: Sat Dec 17, 2011 2:49 pm 
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Ok, rephrase: How would folks rate the chances of an Irish pillar bank failing in 2012 and defaulting on deposits. (Assume the government guarantee ain't worth a curse). It's a serious question.

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 Post subject: Re: Eur Wedge On De Edge
PostPosted: Sat Dec 17, 2011 2:53 pm 
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ps200306 wrote:
Ok, rephrase: How would folks rate the chances of an Irish pillar bank failing in 2012 and defaulting on deposits. (Assume the government guarantee ain't worth a curse). It's a serious question.


Very low, despite the mess that is Permanent TSB and AIB. If one goes, all 3 of them go.


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 Post subject: Re: Eur Wedge On De Edge
PostPosted: Sat Dec 17, 2011 7:30 pm 
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ps200306 wrote:
How would folks rate the chances of an Irish pillar bank failing in 2012 and defaulting on deposits above the guarantee limit? Trying to make some decisions regarding wedge at the mo. Euro collapse is less of a worry, to be honest.


I think the probability of losing the money completely is very low even in the worse case scenario. Saying that, I believe the probability that all money above the old guarantee (25k) being locked down for an extended amount of time (1 year plus ) is very high. Also be aware that in the past governments have a habit of turning part of large sum deposits into government bonds. i.e a forced loan to the government. I think that has a fairly high probability in this situation. If they lose the ECB money and they cannot find a foreign bank to take on the retail deposit base then expect the high value depositors to be embonded and becoming defacto bondholders of the banks.

So something like 25K fully accessible after the transition period (6 to 8 weeks), next 25K turned into a fixed term deposit a/c with a term of 6 months / 1 year and the balance being converted into sovereign / bank "green jersey" bonds. Expect to see Gay Byrne in a very somber serious mood doing the TV adverts explaining why the "green jersey" bonds are vital for the survival of the country. Patriotic duty etc etc, intercut with footage of riots in Greece, then the verdant Irish landscapes with rosy cheeked children in the foreground looking anxious, future of Ireland etc..etc. think of the children, with plaintive uilleann pipes soundtrack the background rising to a crescendo of unplaced loss. You know, the same old shite.

So you might end up not only being a customer of your bank but the owner too.


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 Post subject: Re: Eur Wedge On De Edge
PostPosted: Sat Dec 17, 2011 8:11 pm 
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jmc wrote:
So you might end up not only being a customer of your bank but the owner too.


:evil:
We already own the banks. Danm it!

I wanted the failing banks closed and replaced by new ones with a chance for us to fire all of the old management but Politics and the senior Civil Servants got in the way along with their masters. Now they have mastership of us all. Burn them I say.
:evil:

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 Post subject: Re: Eur Wedge On De Edge
PostPosted: Tue Jan 03, 2012 11:35 am 
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Posts: 1055
Location: South County Dublin
I have found the perfect hedge for my wedge ...

http://www.rte.ie/news/2012/0103/euro.html

bound to be a collector's item.


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