Totally OT: Empty your bank accounts for July!

[Cursitor Doom]

Gentlemen,

A word to the wise. Greece has a TON of debt repayments coming due in July - a succession of eye watering sums falling due which are beyond the resources of the country alone to repay and they may not get support this time. I'd strongly suggest keeping only enough money in your account to pay day to day bills and if you get your salary paid directly in, whip it out asap in cash. We've been expecting something to give in the Eurozone for some time now, but July is the most serious challenge to the survival of the single currency so far. Don't end up with your cash swiped in a "bail-in" like what happened to the poor saps in Cyprus. Forewarned is forearmed!

[GB]

Wow, you have a salary each month > ?100k?

[Martin Brown]

Must be a footballer then.

[tabbypurr]

AFAIK its not our problem.

Are you planning a string of robberies in July or something?

NT

[harryagain]

Well the Greeks may well end up eating grass. Stupid socisalists there can't grasp the idea they have to pay back the money they borrowed. So stupid they can't see that "austerity" isn't the worst thing that might happen.

And the Germans/other Euro members may lose a pile of dosh if Greece goes bust. Stupid eurobankers for lending it to them in the first place.

However I don't see any short term effects on us in the UK. Long term, the whole corrupt ? edifice may collapse. Good. But it is one of our markets and would start a whole new recession/depression. Should never have been created in the first place. Barking mad.

Why do you suppose people with money/ the rich are buying property? To protect their wealth. Why do you suppose they are promoting immigration? Keeps property prices high.

Go out and buy to let. Everyone else with money is. Keep the proles down!

[RJH]

I don't know how much the UK government has supported Greece, either directly (bond buying), or via the IMF, EU etc. But I'd doubt it's enough to require plundering individuals' savings.

It's the other 'investors' - pensions funds for example - I'd worry about.

They don't *have* to repay anything - they've already defaulted twice.

Depends who you are, I suppose.

So, they don't have to pay it back then? ;-)

My word, Thatcher left her mark on you.

[harryagain]

Buy stuff that is imperishable, in short supply and will always be needed. Eg houses, land. If a socialist gov, don't thieve it from you that is.

[Nightjar]

So, where do you suggest we keep the money instead?

[Nightjar]

Not a short term solution, which is what is needed if we are to follow this advice, and not always the best option. House prices rose by 7.4% last year. Even after costs, the money I had in managed funds increased in value by over 10%.

All investments carry risks. When the banking crisis hit, commercial property values fell by 33%.

[Cursitor Doom]

I've considered tobacco and scotch whisky, but there's the theft risk and storage issues.

[bert]

I read the Germans are buying gold bars.

[Sam Plusnet]

You may keep your money under my mattress.

For a modest fee of course.

[Cursitor Doom]

Bullion coins if they've any sense. Bars are too easy to fake.

[Nightjar]

... and storing them in Hatton Garden safe deposit boxes?