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planning for the Slovenian euro crisis

planning for the Slovenian euro crisis

Old Apr 9th 2013, 5:54 pm
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Default planning for the Slovenian euro crisis

Hi,
Does anybody have any good ideas on how to plan for the inevitable bailout which is coming Slovenia's way. I have already reduced the amount of euros in my Bank account over there and when I drive over later this month I will be taking German Euros only from England.
Selling the house and abandoning Slovenia is not an option I want to go down.
CM
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Old Apr 10th 2013, 9:53 am
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Default Re: planning for the Slovenian euro crisis

We keep only enough Euros in our Slovenian account to be able to pay our monthly direct debits for the bills.

I can't see a one off tax such as that originally mooted in Cyprus would be levied on lower balances.

We don't want to give up our place either and we'll ride it out here in the UK till it blows over. It'll be painful but life goes on
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Old Apr 10th 2013, 12:17 pm
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Default Re: planning for the Slovenian euro crisis

Originally Posted by 24digital24 View Post
Hi,
Does anybody have any good ideas on how to plan for the inevitable bailout which is coming Slovenia's way. I have already reduced the amount of euros in my Bank account over there and when I drive over later this month I will be taking German Euros only from England.
Selling the house and abandoning Slovenia is not an option I want to go down.
CM
Rumour has it the Slovenes are putting their money in German and Austrians' banks.

We are the same, we always knew we would not be staying here for ever, but what to do.. Sell everything and run, run where?? Or take our chances...

It could be that a lot of the Euro zone countries in trouble get the chop. There is talk of Irelands banks needing another bail-out. The Euro Zone appears to bankrupt. I don't want to end up in with our money trapped in one country
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Old Apr 10th 2013, 1:33 pm
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Default Re: planning for the Slovenian euro crisis

24digital24 - I think I need a new more zippy marketing or on line name, M & G or G & M doesn't seem to hack it these days. Suggestions of a printable kind appreciated.
Anyway 24 24 assume you know Roy and Justy ?? And is the restaurant in Dovje any good?
Better get rid of any 500 Euro notes. I used to have some and they never changed them in restaurants & bars and said pay another day - how can one be critical of this currency and country that allows that? Get rid and keep the minimum is my advice.
Noallnonowt ? Better?
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Old Apr 10th 2013, 1:40 pm
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Default Re: planning for the Slovenian euro crisis

I personally know a couple of Brits now living in Cyprus and they feel a bit more optimistic that things will soon settle. They advise keeping an eye on your balance if you could stray over that £85,000 (roughly €100,000 for arguments sake) and make sure you move money around if you get close to it.

For those permanently in Slo with larger amounts of money deposited in banks I agree with M&G, split it into different places.

Those really concerned should perhaps keep an eye on the Cyprus forums on this website - they're going through it after all - I have a feeling that the Cyprus solution was what we can expect in the future if other countries need a bail out, however, although most analysts say Slovenia is likely to need a bail out, I also read repeatedly that Slovenia's finances don't involve figures anything like those in Cyprus, the economy of which was hard hit because of its strong links with Greece.

I also read today that there are moves a foot to alert customers if their balance is ging to exceed that £85,000 threshold so they can take whatever action they think best.
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Old Apr 10th 2013, 7:38 pm
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Default Re: planning for the Slovenian euro crisis

Thank you for all your good ideas. I will read the comments in the Cyprus forum and avoiding those big notes. I belive they are now illegal in England.

Is it easy to open an Austrian Bank account? As far as I can remember you have to jump through several hoops when opening a Slovenian Bank account.

I have made good friends with some of the local Slovenians, but have normally been to busy working on the house to explore to far from my gate in case I get lost. I hope to do this when I retire hopefully in about 3 years time! Then its time to be living the dream.
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Old Apr 10th 2013, 8:31 pm
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Default Re: planning for the Slovenian euro crisis

"Be Fearful When Others Are Greedy and Greedy When Others Are Fearful"

A quote by a well known chap. If everyone is selling out of Slovenia look to bag a bargain. Just think long term.

Don't panic!
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Old Apr 10th 2013, 9:49 pm
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Default Re: planning for the Slovenian euro crisis

Digital - Roy and Justy are infact at the bottom of your garden gate. He tries to talk Slovenian with a scouse accent....nextto the chicken restaurant.
Good luckwith the the bank issue.
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Old Apr 11th 2013, 7:13 am
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Default Re: planning for the Slovenian euro crisis

Originally Posted by 24digital24 View Post

Is it easy to open an Austrian Bank account? As far as I can remember you have to jump through several hoops when opening a Slovenian Bank account.


CM
I don't know about opening an Austrian account but when we opened our Slo account we enquired at the bank, were told to go round the corner to get an Emso number, came back with that and opened the account. We hadn't even decided which property to buy at that point so used our English address. Easy. Easier in fact that opening a UK account
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Old Apr 11th 2013, 8:18 am
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Default Re: planning for the Slovenian euro crisis

Originally Posted by 24digital24 View Post
when I drive over later this month I will be taking German Euros only from England.

CM

I am probably being a bit dim (the economy isn't really my subject, but give me a spelling question and I come into my own) but why German Euros?

I think I know but not sure - I heard when Cyprus was all of a tizzy that a Cypriot Euro isn't worth the same as another Euro. So if Slovenia had to pull out of the Euro, Slovenia's Euros wouldn't have the same value as other Euros. Because the country is no longer part of the Euro and therefore its coins and notes have no validity? Is that why?
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Old Apr 11th 2013, 11:29 am
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Default Re: planning for the Slovenian euro crisis

Originally Posted by fizzytom View Post
I am probably being a bit dim (the economy isn't really my subject, but give me a spelling question and I come into my own) but why German Euros?

I think I know but not sure - I heard when Cyprus was all of a tizzy that a Cypriot Euro isn't worth the same as another Euro. So if Slovenia had to pull out of the Euro, Slovenia's Euros wouldn't have the same value as other Euros. Because the country is no longer part of the Euro and therefore its coins and notes have no validity? Is that why?
Not too sure Fizz but in talking with a friend last year who works the stock markets. At that time his thoughts were Slovenia was going to need a bail out in the near future, he strongly advised us to take our money out, transfer it to German Euros and keep it under the bed
I fear he may be right
Maybe if I invite him here he may give us his thoughts as I don't speak this talk
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Old Apr 11th 2013, 11:33 am
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Default Re: planning for the Slovenian euro crisis

24digital24 I have no idea how to open a Austrian bank account, A online search may help.
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Old Apr 11th 2013, 11:35 am
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Default Re: planning for the Slovenian euro crisis

Presumably only for larger balances?

I think it'll be worth having some cash available as one of the problems in Cyprus was that people were finding it difficult to get cash from the machines, the banks were closed and credit card transactions were limited to a certain amount. It became a cash economy but it was almost impossible to lay your hands on cash

We are thinking about buying some of the hardware for our new heating system now to use up some of our cash on something we'll need later anyway.
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Old Apr 11th 2013, 12:18 pm
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Default Re: planning for the Slovenian euro crisis

If speed cameras can push people over the edge imagine what a savings tax would do

They wouldn't do it anyway, certainly not at 100k. The only people with that kind of money in the bank, are the corrupt bastards that got the country in to this mess.
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Old Apr 11th 2013, 1:15 pm
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Default Re: planning for the Slovenian euro crisis

[QUOTE=fizzytom;10653299]Presumably only for larger balances?

I think it'll be worth having some cash available as one of the problems in Cyprus was that people were finding it difficult to get cash from the machines, the banks were closed and credit card transactions were limited to a certain amount. It became a cash economy but it was almost impossible to lay your hands on cash
QUOTE]
I really hope that it will not come to anything like this. But who is to say they wont lower the bar, they seem to do what they like, who would of ever dreamed they would take money from peoples bank accounts in the first place and get away it! I just don't trust them at all..
Up until now I have stuck my head in the sand regarding this crisis hoping it would sort itself out and I could continue to live the dream in comfort biding my time but it has eaten away into our resources very quickly without a lot to show for it. Had I addressed the problem in the first place I feel we would have been in a better place financially. We don't have a lot and it scares me to think where we could end up.
My fear is, if the EU does cut out the weaker economies where will that leave us or people like us who own property and want to leave, the currency will be worth nothing.

Originally Posted by mbkarl View Post
If speed cameras can push people over the edge imagine what a savings tax would do

They wouldn't do it anyway, certainly not at 100k. The only people with that kind of money in the bank, are the corrupt bastards that got the country in to this mess.
I agree that no one here has any real money.
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