How safe are your savings?

[For Us All]

Following the panic at ATM's in Cyprus,could there be a run on the banks throughout Europe.

Views and opinions please.

 

http://www.telegraph.co.uk/finance/personalfinance/savings/9937330/Cyprus-impact-how-safe-are-UK-savings.html

[Warren]

The UK Government provides a guarantee for UK accounts and some care is needed about what is and is not a UK account given brand names. The EU make a similar guarantee and the storm in Cyprus is over this being broken, possibly unlawfully, in breach of market rules etc. The hub of the problem is how safe a Government guarantee is, and as we see in Spain a significant part of their situation is a the burst of a housing bubble and its impact on the banks. Since 25% unemployment exists in Spain one can say that a large proportion of the population have lost their livelihood and savings that way. So do all crises eventually end in the same place - poverty for a significant proportion of the population.

[bookworm]

i haven't got any savings warren so what happens in greece and cyprus, is of little consequence to me, when you've got nowt you can't lose owt.

[For Us All]

i haven't got any savings warren so what happens in greece and cyprus, is of little consequence to me, when you've got nowt you can't lose owt.

 

:(

[For Us All]

Looks like the Russians were tipped off beforehand and withdrew their money early,won't go down too well.

 

http://www.thesun.co.uk/sol/homepage/news/politics/4848766/Troops-betrayed-in-Cyprus-bank-grab-as-Russians-seize-2billion.html

[Tone]

Surprisingly, New Zealand is also considering the same action as Cyprus to shore up their failing banks.

 

http://rt.com/business/new-zealand-cyprus-style-banking-failure-solution-477/

 

If anybody would like me to hang on to their savings for them, let me know.

[bookworm]

a generous gesture tone.

[Warren]

Surprisingly, New Zealand is also considering the same action as Cyprus to shore up their failing banks.

 

http://rt.com/business/new-zealand-cyprus-style-banking-failure-solution-477/

 

If anybody would like me to hang on to their savings for them, let me know.

 

New Zealand may have issues with banks, but its government finances are in surplus.

[JOHNNYAITCH]

i haven't got any savings warren so what happens in greece and cyprus, is of little consequence to me, when you've got nowt you can't lose owt.

 

Until they go for a one off levy on wages

[geosname]

i haven't got any savings warren so what happens in greece and cyprus, is of little consequence to me, when you've got nowt you can't lose owt.

 

It may not have a direct impact but the knock on effects could be serious..... no one has got "nowt"

[bookworm]

Until they go for a one off levy on wages

 

they've already milked me pension, and fuel tax is crippling,food prices up by 2/3rds, thats why i have no savings,but i can sell you a few knives and forks or a tea set, vases, plant pots, tools, bedding, a chair, i've only one but i can sit on the floor and drink out of an old jam jar and eat with me fingers, times are hard boyo.

[Jacky Noff]

they've already milked me pension, and fuel tax is crippling,food prices up by 2/3rds, thats why i have no savings,but i can sell you a few knives and forks or a tea set, vases, plant pots, tools, bedding, a chair, i've only one but i can sit on the floor and drink out of an old jam jar and eat with me fingers, times are hard boyo.

 

How much do you want for the tea-set?

[Trentham Lakes Valiant]

Surprisingly, New Zealand is also considering the same action as Cyprus to shore up their failing banks.

 

http://rt.com/business/new-zealand-cyprus-style-banking-failure-solution-477/

 

If anybody would like me to hang on to their savings for them, let me know.

 

The Global meltdown started because Americans wouldn't pay their mortgages. Sub prime. Sub human.

[bookworm]

How much do you want for the tea-set?

 

a bog standard churchill cafe set, 5 cups, 6 saucers and 6 plates,well nearly a set, a fiver.

[davidatpreston]

I presume the taxed savings money is going to be put towards the penny off a pint of beer.