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Thread: Fortis Concerns. 100k Deposit Guarantee about to be tested?

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    Default Fortis Concerns. 100k Deposit Guarantee about to be tested?

    Reuters reporting now that Fortis is about to be Nationalised by Belgian Government.

    With huge deposits in Ireland via their links in Postbank, will Lenihan have to stump up just a week after playing Mister Money Bags with our Cash?

    Fortis is an absolutely huge bank.
    The bail out is now irrelevant, we are in turmoil Worldwide.

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    Default Re: 100k Deposit Guarantee about to be tested?

    Quote Originally Posted by Anorakphobia
    Reuters reporting now that Fortis is about to be Nationalised by Belgian Government.

    With huge deposits in Ireland via their links in Postbank, will Lenihan have to stump up just a week after playing Mister Money Bags with our Cash?

    Fortis is an absolutely huge bank.
    The bail out is now irrelevant, we are in turmoil Worldwide.

    Lawd love a duck, does that mean everyone moving into the post bank last week did the wrong thing??? Although, presumably if nationalised, savers are ok?? I think all the foreign banks still operate under their own country's guarantee, although I had seen that Danske Bank wants Irish coverage for NIB. Not sure they've got that through yet though?? So how large is the Belgian savings guarantee??
    The floggings will continue until morale improves

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    Default Re: Fortis Gone. 100k Deposit Guarantee about to be tested?

    Quote Originally Posted by Anorakphobia
    Reuters reporting now that Fortis is about to be Nationalised by Belgian Government.

    With huge deposits in Ireland via their links in Postbank, will Lenihan have to stump up just a week after playing Mister Money Bags with our Cash?

    Fortis is an absolutely huge bank.
    The bail out is now irrelevant, we are in turmoil Worldwide.
    I thought they said last Friday they were safe and there was nothing to worry about! I guess they were telling pork pies!

    What happens next? Has Lenihan just cost us a couple of billion?? I have the An Post literature where they claim Fortis were the safest bank in the world! I must frame it for posterity!

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    Default Re: Fortis Gone. 100k Deposit Guarantee about to be tested?

    Unfortunate graphic of a tenner going up in flames appears at the foot of the Postbank page -here
    'To attempt to rerun a referendum as a means of reversing the democratic decision taken by the people would be rightly regarded as an affront'. Dick Roche TD 21.12.01

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    Default Re: Fortis Gone. 100k Deposit Guarantee about to be tested?

    Nothing to worry about.
    They only have about 500 billion of client cash.

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    Default Re: 100k Deposit Guarantee about to be tested?

    Quote Originally Posted by expat girl
    Quote Originally Posted by Anorakphobia
    Reuters reporting now that Fortis is about to be Nationalised by Belgian Government.

    With huge deposits in Ireland via their links in Postbank, will Lenihan have to stump up just a week after playing Mister Money Bags with our Cash?

    Fortis is an absolutely huge bank.
    The bail out is now irrelevant, we are in turmoil Worldwide.

    Lawd love a duck, does that mean everyone moving into the post bank last week did the wrong thing??? Although, presumably if nationalised, savers are ok?? I think all the foreign banks still operate under their own country's guarantee, although I had seen that Danske Bank wants Irish coverage for NIB. Not sure they've got that through yet though?? So how large is the Belgian savings guarantee??
    Savings with An Post differ from savings with Post Bank.
    Happiness is a dry martini and a good woman … or a bad woman.
    –George Burns

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    Default Re: 100k Deposit Guarantee about to be tested?

    Quote Originally Posted by CookieMonster

    Savings with An Post differ from savings with Post Bank.

    OK, so do we know who guarantees Post Bank?? I know An Post is directly linked to the Irish Govt, but is therefore NOT dependant on Fortis.

    My bet is that it is the Belgian government.
    The floggings will continue until morale improves

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    Default Re: Fortis Gone. 100k Deposit Guarantee about to be tested?

    Cookie

    My understanding tonight is that Postbank deposits will have to be covered by us.

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    Default Re: Fortis Gone. 100k Deposit Guarantee about to be tested?

    Bizarre - I was just about to open an Account with them -

    went in an all but said naw do it another day....


    Glad I did now!

    According to the blurb in the info pack I got:

    Fortis Bank:

    With a market capitalisation of €39 Billion, Fortis ranks among the twenty largest financial institutions in Europe. Its sound solvency position, its presence in 50 countries...enable it to combine global strength with local flexibility and provide its clients with optimum support.

    Also emphasised is:

    50:50

    Fortis Bank and An Post


    I think the Little Old Ladies will be out in force tomorrow in Local Post Offices from Killybegs to Kenmare!

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    Default Re: Fortis Gone. 100k Deposit Guarantee about to be tested?

    Fortis was around a long time. Some Latin scholar will have to come up with a more suitable name now.

    Fortis' precursors traded with Catherine the Great and financed the U.S. purchase of Louisiana from Napoleon.

    Link
    'To attempt to rerun a referendum as a means of reversing the democratic decision taken by the people would be rightly regarded as an affront'. Dick Roche TD 21.12.01

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