Thursday, July 22, 2010

Anglo Swiss Bank

God loves a tryer, and Anglo Irish Bank is certainly that. Though once again, their choice of sites for their online advertising leaves something to be desired, to say the least. This is from the online edition of today's Daily Telegraph - the Anglo ad appears alongside an article on the flight of eurozone savers to Swiss bank accounts:

The strapline for the Anglo ad is:
Safeguard the future for everything you hold dear.

So let me see, rather than move your shrinking savings to a bank account in Switzerland (budget deficit just 1pc of GDP; gross public debt at 40pc; a current account surplus of 9pc; unemployment at 3.9pc; and its 8 million citizens own half a trillion dollars of external assets)... you should move them to Anglo Irish Bank instead. To safeguard the future of everything you hold dear.

Now that's what I call powerful advertising.


  1. What is Switzerland doing right that we're doing wrong? Methinks if we could answer that we'd be laughing all the way to the (Swiss) bank.

  2. Only a madman leaves his precious loot in Anglo.

    When the penny (for want of a better word) eventually drops that the Irish Govt is too broke itself to actually honour any so-called guarantee to Anglo's depositors, the depositors will rush to withdraw their money. This will create a run on Anglo, and the infection will quickly spread to BofI and AIB. Only the very early movers will get paid; the rest will lose everything.

    So my advice is to get out of all Irish banking now, as I've argued argued separately.

    There are certainly worse safe-havens than Switzerland.


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