Which banks are safer - Ireland or UK?

As close neighbours who have both had ridiculous property booms, who is now in the worse position financially - UK or Ireland? I really would appreciate advice as I have some savings/investment decisions to make and am in awe of the general level of knowledge on the PIN. I’ve gained great insight into how bad the situation is in Ireland, but can’t find similar advice on the UK.

Spread your assets.

If you want to hedge against a global economic meltdown, I reckon a mixture between: AIB, Ulster Bank (€ and £), Barclays (£), AAA-rated Canadian dollars and AAA-rated Swiss francs. Throw in a few RMBs for good luck.

If you’re talking about putting money on deposit, then as said many times, spread your risk. I’d see Northern Rock as being a reasonably safe place to put your money with UK guarantee. RBS (with its subsidiaries here - Ulster Bank and First Active) are probably reasonably safe considering the amount of money invested by the UK government. I’d keep some with an Irish bank if you’re resident in the Republic, mainly for convenience, so not too much. I’d also use Rabo to remove UK/Irish exposure.

Wouldn’t touch Swiss Francs. Their banking sector is bigger than the country itself, so seems quite risky to me.

Oh, just noticed you’re resident in the UK. Why bother with the Republic? Are you from here originally?

Yes, I’m Irish. I have some money in BofI and the rest in UK banks. Just a bit scared that sterling will fall even further so want to keep some in Euros. Not reading good things about BofI, but I’m a bit limited though as a non resident as to what accounts I can open. I suppose I could go to another Euro country, but again, as a non resident it is difficult. Advice appreciated, thank you!

what would you do with a lump sum of 100k that is savings towards a house purchase?

no timescale now on house purchase, am going to “wait and see”

my concern with any foreign bank is that they do an iceland and as a non-national you are high and dry

Why bother spreading around risk?

Before the unlimited government guarantee it made sense if you had more in any individual bank than the guarantee limit, but now you might as well have €1m in 1 Irish bank as in 20 each guaranteeing €50k . No?

depends on if you trust the guarantee or not i guess

Also if a IR bank goes, you could be waiting a while to get your funds back from the Govt under the guarantee, not to mention foregone interest in the waiting period.