Wednesday, Mar 04, 2009
Ukraine pain
FT: Ukraine risks unrest as ills worsen
Olexander Pavlenko, a young computer programmer, is one of tens of thousands of Ukrainians who cannot get their money out of the bank.
He stood in line in Kiev at Nadra Bank and Ukrprombank, two big troubled banks, planning to withdraw more than $10,000 (€7,950, £7,125). But like many others, he was told the cash was not available.
Posted by sold out @ 06:58 AM (617 views) Add Comment
8 Comments
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1. debtfree said...
'the cash was not available'
would it be fair to say that the time is now and you need at least 6 months worth of cash at your disposal.... no matter where you are ?
2. mountain goat said...
Debtfree - would it be fair to say that the time is now and you need at least 6 months worth of cash at your disposal.... no matter where you are ?
Yes, especially in the UK...
3. mdmick said...
Or a crank-operated printing press [crank being the mechanism rather than the state of mind].
4. timmy t said...
"But with political leaders focused on the forthcoming presidential elections due before the end of the year..."
Typical, hard working people can't get at THEIR money but the politicians are more interested in the election.
Do you guys seriously think it is time to get your money under the mattress? I know its earning naff all interest so you wouldn't be missing out on much, but do you genuinely think you risk losing it if you leave it in there?
5. Mr G said...
timmy t.
Put your money in building societies, not the big banks with fat cat executives.
6. mountain goat said...
Timmy t - Do you guys seriously think it is time to get your money under the mattress? I know its earning naff all interest so you wouldn't be missing out on much, but do you genuinely think you risk losing it if you leave it in there?
We were hours away from this happening in October last year. A big event, if AIG is allowed to fall for example will take us there again.
7. shipbuilder said...
mg - weren't we hours away from nuclear war at several points in the last few decades and constantly under the threat of it? Yet few thought it a good idea to build a bomb shelter. Do we maybe need some perspective? I was a few feet away from crashing head on into another car about 3 or 400 times today - but I was just driving down the road. It's easy to get carried away with these things.
8. mountain goat said...
Shipbuilder - your analogies are good. You probably where a seat belt tho? It also comes down to managing fear. There is a risk and how much does it cost to protect myself to some extent. By having cash on hand I don't fear a bank freeze for a month or two. Keeping it in a bank has little benefit these days and a little or lot of risk depending on your views.