Monday, September 17, 2007

Panic at the Bank

There's a first time for everything, and today was the first time I saw a run on an Irish bank branch. No prizes for guessing which one: it's Northern Rock's Irish office. There were several hundred people in the queue - and just before I took the photo there had been a shower of hailstones to add to their misery.
I took this photo at about 4.15pm this afternoon - staff from Northern Rock were at the head of the queue patiently answering questions and handing out forms. I'm guessing they were for withdrawals rather than lodgements ...
Could it happen to a main street bank? Hopefully not. I do hope all the good folk in the queue get their money: it is theirs after all. What about the future of Northern Rock in Ireland (assuming they survive)? Not good I reckon: a 'flight to quality' seems all but guaranteed.

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