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Don't Bank on It

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ProfilePosted byOptionsPost Date

JustJohn

JustJohn Report 27 Mar 2013 10:34

I think the place to have your bank account is where you live. If you feel confident enough to live in a country, your money should be there.

Oh, you can invest in Germany or China or India and do better - but you are speculating.

And they have the power to take money off you without you having any rights of citizenship. My Zimbabwe mining shares are paying out next to nothing, but have moved some of my money to Argentina where financial gain is much easier and more secure. :-( :-(

wisechild

wisechild Report 27 Mar 2013 15:45

It´s a bit like keeping up with the Joneses. Countries like Spain, Italy & Greece were much weaker when they were "encouraged" to join the euro.
They were not strong enough to compete, but were doing OK with their own currencies & living reasonably well within their means.
As soon as they joined the euro, they were expected to up their lifestyles & spending in order to compete with their richer collegues.
It´s like expecting a person on the minimum wage to spend at the same level as a millionaire.
I really don´t have enough savings in any bank to worry about them grabbing a percentage & intend to stay with it.
Spain is my adopted country & although times are hard & certainly not the lotus eating existence that people think, I have chosen to live here & have to take the rough with the smooth.
All I would hope is that Brussels stop moving the goalposts.