Is this a surprise? Many small businesses and savers have no option but to eat into their reserves to both pay down debt and just to keep going. The savings situation is bound to be worse for households come the end of January. What it all amounts to is that for many, repairing their balance sheet is a long way off, possibly a pipe dream.

Is the money being spent or is it being moved into non Euro currencies?

Anyone that is moving their money is probably thinking more in terms of devaluation than anything else.

The one thing I wouldn’t do with it is buy gold-that’ll be the next bubble!

David McWilliams suggested in his article in the Sunday Business post (Dec 11th) that this is people dipping into their savings to pay the gas bill, I guess it could just as easily be people transferring money out of the Euro though

We don’t need bank accounts—-Once upon a time in Ireland there was a minister of finance who didnt even have a bank account. A girl in his office used to run down to the local Bank and cash his cheques for wages and expenses and then put it in a small brown envelope(pay packet) and grave it to him. He then went straight to the bookies and put all his money on horses, tips he got from friends who owned horses. Sadly this is the truth verified by a majority of people in government at the time.

I know several people who have moved their money out of the country. I have moved money from my business in to Norwegian Kronar and the Canadian Looney. Bought some gold and silver and invested in some blue chips that have low debt.

I know people that have bought land, new cars, and plenty have taken cash out for emergency use and kept at home. Don’t hide it in typical places like the attic or in a wardrobe. It is handy to have a bit in reserve.

This is a mix of people taking money out to pay down debt, pay day to day expenses and also moving to safety from the joke currency that is the Euro.

The amount of debt that is being paid off mortgages is impressive. If we were not stuck with the bank debts that the last traitor Min for Finance and his gang burdened us with. If the EU were not allowing us to burn the bondholders, like normal business practices insist upon.

If you are going to keep Euro in an account, look at the post office, the credit unions (check your local one first) cause the banks are absolutely shocking and could cascade.

I have a hunch people are also trying to blow whatever money they have in cash before the anticipated eurocalypse. Especially people who are so far underwater they want to prevent the banks from taking their stash – I know of a few cases of this.

Freagra éasca. Airgead á aisteiú go stirling.
Easy answer. Funds being transferred to sterling.