OK, Here It Is..... THE Question
Mar 30th 2013, 7:19 am
#31
Lost in BE Cyberspace
Joined: Feb 2008
Posts: 5,674
Re: OK, Here It Is..... THE Question
I get the feeling you're confusing the chance of +100k accounts being hit, with say having 10-20k in a bank account.
And if you really think that Spanish banks are "far more likely" to be closed/frozen than the UK then please feel free to keep your money in Northern Rock or RBS or HBOS.
Did you read the news today about the BoE telling British banks they are under-capitalised? Why do you think this wasn't addressed before?
And if you really think that Spanish banks are "far more likely" to be closed/frozen than the UK then please feel free to keep your money in Northern Rock or RBS or HBOS.
Did you read the news today about the BoE telling British banks they are under-capitalised? Why do you think this wasn't addressed before?
Mar 30th 2013, 7:42 am
#32
Lost in BE Cyberspace
Joined: Jan 2009
Posts: 5,368
Re: OK, Here It Is..... THE Question
A longer-term look reveals that about 235 billion euros in portfolio investments, bank deposits and credits flowed out of Spain in the first seven months of the year. There was a positive balance of nearly 18 billion euros in the same period in 2011.
Capital flight actually continued into its 13th consecutive month, with a total of 331 billion euros making it out of Spain during that period. That's about one third of the country's total gross domestic product (GDP).
Capital flight actually continued into its 13th consecutive month, with a total of 331 billion euros making it out of Spain during that period. That's about one third of the country's total gross domestic product (GDP).
Mar 30th 2013, 7:49 am
#33
Not Banned (yet)
Joined: Aug 2008
Location: Madrid
Posts: 6,400
Re: OK, Here It Is..... THE Question
http://info.moneyweek.com/urgent-bul...end-of-britain
In all recorded history, no country has ever recovered from the financial position we find ourselves in today. No government has ever been able to reverse this trend. No emergency action has ever come close to a solution.
Mar 30th 2013, 9:04 am
#34
On the road again.
Joined: Aug 2008
Location: On Top of the World
Posts: 17,507
Re: OK, Here It Is..... THE Question
Seems everyone everywhere is trying to scare us all...
http://info.moneyweek.com/urgent-bul...end-of-britain
Maybe we should let that nice gentleman in North Korea take over?
http://info.moneyweek.com/urgent-bul...end-of-britain
Maybe we should let that nice gentleman in North Korea take over?
All that to try and panic folk into taking out a magazine subscription.
Pathetic.
Mar 30th 2013, 9:34 am
#35
Ex Expat
Joined: Oct 2006
Location: West Midlands, ex Granada province
Posts: 2,140
Re: OK, Here It Is..... THE Question
I don't quite get this "transfer a little bit each month" advice.
Quite apart from any extra transaction costs, doesn't this ignore the fact that only a few years back the pound bought 1.65 euros, and now it fluctuates between 1.15 and 1.25?
Of course if you're sure that the euro will depreciate by 20%... but is that realistic? Some pundits are predicting further falls in the pound, although I've yet to find an expert who gets this right all the time.
I understand why keeping more than the 100 k euro limit may be worrying, and even more than 30k seems reckless to me, given the low interest earnt.
But if you're spending in Euros over the next 6 months, surely better to transfer approximately 6 months money at one time?
Quite apart from any extra transaction costs, doesn't this ignore the fact that only a few years back the pound bought 1.65 euros, and now it fluctuates between 1.15 and 1.25?
Of course if you're sure that the euro will depreciate by 20%... but is that realistic? Some pundits are predicting further falls in the pound, although I've yet to find an expert who gets this right all the time.
I understand why keeping more than the 100 k euro limit may be worrying, and even more than 30k seems reckless to me, given the low interest earnt.
But if you're spending in Euros over the next 6 months, surely better to transfer approximately 6 months money at one time?
We did not intend to keep any more money than necessary in Spain.
The extra charges seemed worth paying.
We also kept a few grand in Caja Mi Colchon (under the mattress).
Last edited by scampicat; Mar 30th 2013 at 9:36 am.
Mar 30th 2013, 8:23 pm
#36
Forum Regular
Joined: May 2012
Posts: 38
Re: OK, Here It Is..... THE Question
OK so what was the original question? :-)
