Guest pelmetman Posted July 3, 2015 Share Posted July 3, 2015 Not that it currently affects me :D .............But the 85k in the bank protection is being reduced to 75k next year due to EU rules ;-) ............ No doubt it'll be regurgitated and twisted by the yes fan club at a later date *-) ...... Link to comment Share on other sites More sharing options...
Dave225 Posted July 3, 2015 Share Posted July 3, 2015 It actually isn't. The limit is €100000 and as the pound has gone up then effectively the pound value has dropped. It is all part of being in the big 'family club' of the EU. Of course if we had joined the euro thwn there would have been no change, but then again maybe beeter to live with a lower limit. Anyway, if you are married, whatever that means nowadays, you get double so £150k between you. OK I can manage the £15 but not the rest so I still sleep at night. Link to comment Share on other sites More sharing options...
Guest pelmetman Posted July 3, 2015 Share Posted July 3, 2015 Dave225 - 2015-07-03 9:05 PM It actually isn't. The limit is €100000 and as the pound has gone up then effectively the pound value has dropped. It is all part of being in the big 'family club' of the EU. Of course if we had joined the euro thwn there would have been no change, but then again maybe beeter to live with a lower limit. Anyway, if you are married, whatever that means nowadays, you get double so £150k between you. OK I can manage the £15 but not the rest so I still sleep at night. Eh?......Surely you mean the pound has increased? ;-) ............... Link to comment Share on other sites More sharing options...
Dave225 Posted July 4, 2015 Share Posted July 4, 2015 pelmetman - 2015-07-03 9:10 PM Dave225 - 2015-07-03 9:05 PM It actually isn't. The limit is €100000 and as the pound has gone up then effectively the pound value has dropped. It is all part of being in the big 'family club' of the EU. Of course if we had joined the euro thwn there would have been no change, but then again maybe beeter to live with a lower limit. Anyway, if you are married, whatever that means nowadays, you get double so £150k between you. OK I can manage the £15 but not the rest so I still sleep at night. Eh?......Surely you mean the pound has increased? ;-) ............... Yes, that is what I said. Please keep up in the back row!!!! The euro has dropped in value so you need less pounds to get €100k. Of course our dear Government could have ignored the edit from Brussles stating it should be measured in euros and then we would have stayed at £85k, but why miss the opportunity to spend less, if you are a Chancellor??? You can also assume that if the euro had gone up then our £ value would have increased.....................................and yes those are pink pigs flying past the window. Link to comment Share on other sites More sharing options...
Guest Peter James Posted July 4, 2015 Share Posted July 4, 2015 Dave225 - 2015-07-04 12:52 PM Of course our dear Government could have ignored the edit from Brussles stating it should be measured in euros and then we would have stayed at £85k, but why miss the opportunity to spend less, if you are a Chancellor??? when the limit was introduced in 2010 the compensation limit was set to be reviewed according to the exchange rate every 5 years so this is what is happening. If Britain offered higher compensation limits than the rest of Europe it would be deemed by the EEC to give British Banks an unfair competitive advantage over other European banks. Given the amount of money Osborne is borrowing to throw at his obsessive housing market interventions I hadn't noticed he was reluctant to spend when it suits him. But he isn't being asked to spend anything here because FSCS compensation is funded by a levy on the banks - one of the things thats upsetting the Building Societies and HSBC who never had any bailout money, but are being taxed to fund the bailouts of their competitors. HSBC paying several times as much compensation as the banks that were bailed out from it because its assessed on their high global turnover, so they are considering going back to Hong Kong. Link to comment Share on other sites More sharing options...
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