Something good from EU?

  bri-an 09:32 14 Jul 10

click here

Excellent news.
Much bigger protection coming for savers - the EU isn't always bad, then?

  johndrew 10:19 14 Jul 10

This figure is exchange rate dependent. Although the 'current' figure would be around £83.5k at the older rate it would have been £62.5k.

In the future the exchange rate could exceed €2 to the £ which would leave savers worse off. You could argue that such a link is a little like oil being sold in US$ and the exchange effect on the price of fuel here. Is it not better to have a 'safety net' linked solely to our £ rather than something else?

  bri-an 10:30 14 Jul 10

Agreed, it would be better to be £ linked, but I still feel it will better our present £50k and reduce the number of separate accounts needing to be opened, for 'safety'.

If the £ does get to 2Euros then I'll be on holiday so much I probably wouldn't care, anyway!! (;-))

  Grey Goo 10:43 14 Jul 10

I think most people would be really chuffed if they had only one account containing £50K. It would be interesting to see what the distribution of savings around the EU actually is.

  bri-an 10:52 14 Jul 10

Appreciate that, but when a house is sold you can be suddenly sitting on £300k+, even if only for a limited time, and finding six or seven accounts is a trial. Cutting down that number helps.

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