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Offshore Banking And New Eu Capital Restriction Rules

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Anyone noting the recent laws passed by the EU recently about creditors having to bail out bad banks know how this will effect offshore accounts held in places like Gurnsey, IOM etc?

Recently contacted my bank Nationwide International asking what happens when the parent company gets into trouble I have been told as a subsiduary there is no obligation for the offshore bank to help nor can the UK government impose capital controls over there.

I realise that should the storm finally hit there is still nothing to prevent a run on this bank and that there is little chance the IOM can compensate all the despositors but given the economic situation in the UK I know I would rather have my money out of the reach of UK gov plc.

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