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Lack of action sums up Ireland. TBH sitting here waiting for the next SHTF moment, Ihave just taken all my money from AIB because I am sure there will be a bail in within 12 months.

There are problems enforcing the law here, in a way it is great because you can get away without paying you bills, etc.. But the moral hazard and consequences 'will be' dire.

Please take 1/2 hour to look around Japlandic's blog he/she makes some great presentations of the current and worsening situation.

http://www.japlandic.com/

Edited by Gone to Ireland.

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Lack of action sums up Ireland. TBH sitting here waiting for the next SHTF moment, Ihave just taken all my money from AIB because I am sure there will be a bail in within 12 months.

There are problems enforcing the law here, in a way it is great because you can get away without paying you bills, etc.. But the moral hazard and consequences 'will be' dire.

Please take 1/2 hour to look around Japlandic's blog he/she makes some great presentations of the current and worsening situation.

http://www.japlandic.com/

Thanks for the mention!

Wish it wasn't the way it is - but the media spin continues unabated.

The fact that Ireland is going both Japanese (zombie banks) and Icelandic (massive personal debt overhang) means we've invented a new paradigm - we've gone Japlandic!

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Lack of action sums up Ireland. TBH sitting here waiting for the next SHTF moment, Ihave just taken all my money from AIB because I am sure there will be a bail in within 12 months....

Out of interest which Irish bank would you say is least dodgy? (currently looking to open an account) - I had AIB lined up as one of the least bust.

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Out of interest which Irish bank would you say is least dodgy? (currently looking to open an account) - I had AIB lined up as one of the least bust.

AIB is completely bust - 99.9% government owned - but that's not a good thing. They were bailed out to the tune of €21 Billion - only outshone by Anglo Irish Bank with their €30 Billion disaster.

All of them are a mess from the first wave of the banking collapse - the collapse in residential and commercial property prices.

The second wave is on the way - the default on mortgages and SME loans. All the Irish banks will need a second bail-out to fill the "hidden" holes on their balance sheets due to defaults. The Irish Central Bank currently has 90-day+ arrears running at 14% of the all the mortgage loan books of the banks. 50% of the €50 Billion of SME loans are in arrears.

Due to the Cyprus/bail-in clause signed this summer then keeping anything above €100K in Irish banks is fair game for them to steal as far as the banks are concerned.

They were only kept alive so the ECB/EU could bail-out the bondholders - and along the way turning private debt into sovereign debt.

Due to mad promissory notes and other dodgy shenanigans the state is now inextricably linked to the banks - but Ireland is bust, so now every new Euro they have to put into the banks is one less Euro they can put into schools or hospitals.

At some point, the people will baulk at putting any more money into them and then the banks will grab depositor money - when, not if, is the question. They are undergoing stress tests this year but they will not reveal the results until 2014 - so the clock is ticking.

No Irish bank is safe.

Edited by What Goes Up....

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AIB is completely bust - 99.9% government owned - but that's not a good thing. They were bailed out to the tune of €21 Billion - only outshone by Anglo Irish Bank with their €30 Billion disaster.

All of them are a mess from the first wave of the banking collapse - the collapse in residential and commercial property prices.

The second wave is on the way - the default on mortgages and SME loans. All the Irish banks will need a second bail-out to fill the "hidden" holes on their balance sheets due to defaults. The Irish Central Bank currently has 90-day+ arrears running at 14% of the all the mortgage loan books of the banks. 50% of the €50 Billion of SME loans are in arrears.

Due to the Cyprus/bail-in clause signed this summer then keeping anything above €100K in Irish banks is fair game for them to steal as far as the banks are concerned.

They were only kept alive so the ECB/EU could bail-out the bondholders - and along the way turning private debt into sovereign debt.

Due to mad promissory notes and other dodgy shenanigans the state is now inextricably linked to the banks - but Ireland is bust, so now every new Euro they have to put into the banks is one less Euro they can put into schools or hospitals.

At some point, the people will baulk at putting any more money into them and then the banks will grab depositor money - when, not if, is the question. They are undergoing stress tests this year but they will not reveal the results until 2014 - so the clock is ticking.

No Irish bank is safe.

Thanks, that's what I suspected. Still need somewhere through which to organise cheques, credit transfers etc.

Also thanks for the inadvertent heads-up that there are two different banks called AIB..... not sure which one is mine right now!!!

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