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Thread: Banks Lobby Government to Force An Post to Reduce Interest Rates

  1. #1
    Politics.ie Member
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    Default Banks Lobby Government to Force An Post to Reduce Interest Rates

    I found this a bit mad!

    Essentially, the main banks have been lobbying the Gov to get An Post to reduce the attractive interest rates they offer because they are unable to offer similar.

    See here:
    Banks lobby for An Post to cut deposit rate | Irish Examiner

    I work in Telecommunications and the only way that I could compare this would be if my employer approached the regulator and asked that they force another operator to stop giving free internet/ data because we are unable to compete with that.

    The regulator would tell them where to go very quickly!

    I despair and hope that at times like these, that we are protected by some EU rules or something!

    I should state for transparency, my wife and I have some savings with An Post (And Ulster Bank)

    irish

  2. #2
    Dylan2010
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    yeah, had to lol. no you must give us your deposits at supressed rates, we only give good rates to foreign bond holders......

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    The fact that an post accounts do not attract DIRT at 33% gives a hefty advantage over banks. That being said bond holders dont pay DIRT so seems reasonable that jo public can do the same when lending the government money.
    "I can see that your head has been twisted and fed with worthless foam from the mouth" (Bob Dylan)

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    Politics.ie Member Analyzer's Avatar
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    Competition is unacceptable to those bastions of crony capitalism, the Irish banks.

    We need new banks in the Irish market.
    Coveney's ambition is the be Ireland's next EU Commissar and Ireland will pay a price as he builds his CV to position himself sufficiently loyal to the nEU empire.

  5. #5
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    They have some neck, especially those banks on life support from the taxpayer !

  6. #6
    Dylan2010
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    it highlightes another problem, I thought saving was bad and should be discouraged, the whining by the banks implies its important that people continue to save in particular with them.

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    Politics.ie Member gerhard dengler's Avatar
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    Quote Originally Posted by Analyzer View Post
    Competition is unacceptable to those bastions of crony capitalism, the Irish banks.

    We need new banks in the Irish market.
    In a market screaming out for a reasonable return on depositors savings and in a market in which credit is very tight, one would have assumed that the government would be looking to create competition. Ha!
    Politics.ie moderators should moderate instead.
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  8. #8

    Default

    Banks have to lobby?
    I have no money, but I love my life.

  9. #9

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    By the way, does anybody know where I might get information on the historical ECB rates since 2002, and bank mortgage rates for that period?

    Thanks.
    I have no money, but I love my life.

  10. #10
    Politics.ie Member gerhard dengler's Avatar
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    Quote Originally Posted by ShoutingIsLeadership View Post
    By the way, does anybody know where I might get information on the historical ECB rates since 2002, and bank mortgage rates for that period?

    Thanks.
    EURO AREA INTEREST RATE | LATEST DATA | FORECAST | NEWS

    [IMG]<iframe src='http://www.tradingeconomics.com/iframe/chart.aspx?url=/euro-area/interest-rate' height='350' width='700' frameborder='0' scrolling='no'></iframe><br />Source: <a href='http://www.tradingeconomics.com/euro-area/interest-rate' target='_blank'>tradingeconomics.com</a><br />[/IMG]
    Politics.ie moderators should moderate instead.
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