Savers told not to panic over state bailout speculation
My Mother rang The Department of Finance and spoke to several different people about the safety of her cash , and she is not even German !
In recent months, the panic has been mainly from non resident savers, corporate savers and high network savers who have pulled capital out of the banks.
The Indo article is a reflection of the move of the panic into small retail savers.
The article misses the key point that savers no longer trust a guarantee from an insolvent state.
And no depositors lost a bean with NR.
Its that kind of headline that would make ye panic. Lenny De Penny said nobody or no state can 100% guarantee anything.
Who is right?
Could be a normal queue to be honest. If it was 30/50+ then you’d have another run scenario and its not surprising that this week would see the highest chance of panicked runs on the banks. The powers that be have allowed a nebulous cloud of conjecture, speculation and information vacuum develop. So is it surprising people are panicked. No it is not.
“fully funded” is a crap evacuator term for me.
Banks don’t open until 10am
I thought some opened 9.30… but yes you are probably right they all open a 10. Yea 9 Am is early. Bank run it is so.
Is that gaurantee actually underpinned by European law? As in, will the ECB step in and gaurantee the savings & pay out?? I’d love to see where it states that
And what does a bank employee look like exactly? FFS, do some people actually want this shit to get worse?
Bank staff often start earlier than opening hours for training and other ‘off-line’ purposes ffs
Early morning shredding and riot training ?