As i have said before. I'll emigrate if they keep puting up taxes and/or cutting services. I have private health insurance and am single with no kids.

Having assets to back up a debt is no good unless you can realise the asset to pay off the debt if the debt is called in.. or do I have to keep giving you lessons on basic economics.

Plus, what assets we have are invariably over priced and the subject of the dream world i.e. people still convinced that the house that some half eejit of a valuer trying to get them to trade up or "release equity" still holds today.. Oh yeah Mary, sure that house is worth 300 grand, have another top up, when the house would now probably realise 180 k in the open market.

Libero's point about whether or not a bank exiting the market will start calling in debts is very important in this current climate.

Last week we had an announcement that the Government was going to pass legislation making it illegal for a bank to initiate court proceedings against banks who started legal action within 12 months of missing a first payment on a mortgage. How will that legislation apply to a bank which has exited the market but which still holds thousands of mortgages within the market ?

In this case, my mortgage is with Halifax, and thankfully I am paying it every month, but, if I stopped paying it for whatever reason, along with the thousands of others who hold Halifax mortgages, then would I expect Halifax not to run to the European Courts to overturn a ban on them pursuing their debts?

They also announced today that while they are staying in the mortgage market here, they will shortly be contacting people who have other "accounts" about their market exit. I am sure this means in the first instance, telling people that they should prepare to move their current accounts to a different bank, but what does it mean if they exit the loan and credit card markets, and start expecting people to settle up. Can they do that ? What effect would that be for people who might well be paying their debts according to monthly schedules, but who wouldn't have the available cash on hand to settle the full amount immediately if it was called in.

This could get very messy

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1,197 people agree with me.. how many agree with you ?

I could certainly imagine this scenario. In Cashel for instance, BOI and AIB have full branches literally next door to each other, offering exactly the same facilities. I wouldn't be one bit surprised to see one close within 18 months.

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1,197 people agree with me.. how many agree with you ?

Interesting possibility, but would they revert to the old system where either bank would accept and process lodgements for the other?

Could be serious job implications there.

No, of course not.

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Nothing will motivate the lazy / apathetic / Americanised / west-British types to embrace their culture and the Irish language.

It says that higher margins are on the way.

BOSI led the field in reducing margins. With them out of the game the Banks will be able to bring them back up to historic levels, and return to profitability faster.

This is good news for the new owners of the Banks - the taxpayer.

..
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"Always do right. This will gratify some people and astonish the rest." Mark Twain

“When a government is dependent upon bankers for money, they and not the leaders of the government control the situation, since the hand that gives is above the hand that takes. Money has no motherland; financiers are without patriotism and without decency; their sole object is gain.” Napoléon Bonaparte

Ya believe that, you'll believe anything.. the banks are like the wife, what's your's is mine, what's mine is me own

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1,197 people agree with me.. how many agree with you ?

Oh, great. When do I get my first dividend payment?

It will be useful in offsetting those higher margins you agree are on the way.

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Romanes eunt domus

Suffice to say ROC that yet again you show you don't know what you're talking about on economic matters.

Go check a few facts before you post next time.

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no pasaran!

[QUOTE=Mitsui2;2442055]Besides, PS pay was last season's ordained scapegoat. Minimum wage earners seem to be next for demonisation.[/QUOTE


Did you not notice,small business are blaming the minimum wage as their main problem since the start of the year.