Financial advisers are warning clients against keeping cash in Irish banks after European finance ministers decided to include large depositors in future bank bail-ins.
They are telling individuals with cash holdings of more than €100,000 - the maximum insurable amount under the European deposit guarantee directive - to move their money to highly rated foreign banks, to divide it between institutions or invest it in liquid safe assets such as German bunds.
The idea is...
Subscribe from just €1 for the first month!
All Digital Access + eReader
Unlimited Access for 1 Month
Then €19.99 a month after the offer period.
€149 For the 1st Year
Unlimited Access for 1 Year
90 Day Pass
Get a Business Account for you and your team