Run on the Post Office?

[grumbledoak]

Sky News are stating that 500,000 accounts at the Post Office are not covered by the savings protection scheme. It'll be carnage!

[HRG]

grumbledoak said:

Sky News are stating that 500,000 accounts at the Post Office are not covered by the savings protection scheme. It'll be carnage!

No need for it to be... They're covered by a better scheme than the English one

[grumbledoak]

Aha- the Irish one, it seems.

http://www.metro.co.uk/news/article.html?Post_Offi...

[HRG]

grumbledoak said:

Aha- the Irish one, it seems.

http://www.metro.co.uk/news/article.html?Post_Offi...

[dan1981]

It's like there's a run on every Monday morning at our posty office anyway..... pension day i believe!

[HRG]

FFS, what the fk are Sky up to? Have you got a link to the article, it would appear that they're complete and utter fking retards.

[grumbledoak]

'tis on the TV right now, in the ticker; most misleading. Google found the Metro article.

[stigmundfreud]

this is why something needs to be done about the 24x7 cat stuck up a tree news world we live in today

[HRG]

Ah right... What the ticker should actually have said is:

"Post Office savings accounts have a greater degree of protection than English banks"

But don't let the facts get in the way of talking down the economy. The media seem to act more like lord ington of city with each passing day

[captainzep]

stigmundfreud said:

this is why something needs to be done about the 24x7 cat stuck up a tree news world we live in today

Couldn't agree more. Its laughable.

[stigmundfreud]

Remember its the same media that write about the BBC wasting license fees, that it should be wiped out etc.All with a vested interest

[s2art]

Seems a remarkable amount of confidence that the Irish could actually pay out if necessary.

[Bing o]

s2art said:

Seems a remarkable amount of confidence that the Irish could actually pay out if necessary.

What could go wrong in a country where they are predicting house price falls of 80%?

It's a house of cards.

Sky are still s though.

[loafer123]

I'm not entirely sure the Irish guarantee has ever been through their parliament...

[s2art]

Bing o said:

s2art said:

Seems a remarkable amount of confidence that the Irish could actually pay out if necessary.

What could go wrong in a country where they are predicting house price falls of 80%?

It's a house of cards.

Sky are still s though.

Quite. My guess is that push came to shove Ireland would struggle to pay out in any sensible time frame.

[Mobile Chicane]

I picked up a leaflet for this at the Post Office a while ago and it quite clearly states that deposits aren't covered by the UK compensation scheme.

Poor form of Sky News to whip up a story when there really isn't one.

[s2art]

Mobile Chicane said:

I picked up a leaflet for this at the Post Office a while ago and it quite clearly states that deposits aren't covered by the UK compensation scheme.

Poor form of Sky News to whip up a story when there really isn't one.

It is a story if you doubt the Irish ability to pay out.

[ianash]

HRG said:

grumbledoak said:

Sky News are stating that 500,000 accounts at the Post Office are not covered by the savings protection scheme. It'll be carnage!

No need for it to be... They're covered by a better scheme than the English one

No it's okay b because they've got shed loads of Punts that they never got around to using before they went into the Euro.

[rpguk]

s2art said:

Quite. My guess is that push came to shove Ireland would struggle to pay out in any sensible time frame.

I've heard serious doubts about the ability to underwrite the scheme too if a number of banks failed. Anecdotally I've noticed that with the rise of the 'Celtic Tiger' came a huge reliance on credit.

In the event that their protection scheme was seriously put to the test I'd expect Irish citizens (i.e voters) would get first dibs on the funds.