Capital controls vs non-Euro bank account

[sriracha]

I think this will be the start of capital controls in the Eurozone:

https://twitter.com/x/status/1898704322889662846

Now my question is: let's say I am a resident of Germany, and I have a bank account in a NON-Euro country, in the local currency (let's say Georgia, or Armenia, or Egypt, or Switzerland) registered to my address in Berlin, maybe an online bank or even a physical bank.

Let's also say that Germany comes up with something crazy like "borrowing" any sum above 10k euro in any bank account and giving it back in installments over 10 years (something similar to the corralito in Argentina) and because of the digital euro, they just take the money before people can even blink.

My money in the bank in the above countries is safe or not?

 

[JohnnyDoe]

Money is never safe in any bank.

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@JohnnyDoe ”“ Your #1 Source for Guidance in Different Offshore Fields​

 

[Monchip]

sriracha said:
I think this will be the start of capital controls in the Eurozone:

https://twitter.com/x/status/1898704322889662846

Now my question is: let's say I am a resident of Germany, and I have a bank account in a NON-Euro country, in the local currency (let's say Georgia, or Armenia, or Egypt, or Switzerland) registered to my address in Berlin, maybe an online bank or even a physical bank.

Let's also say that Germany comes up with something crazy like "borrowing" any sum above 10k euro in any bank account and giving it back in installments over 10 years (something similar to the corralito in Argentina) and because of the digital euro, they just take the money before people can even blink.

My money in the bank in the above countries is safe or not?
Click to expand...

Yes safer than there. Safest would be leave EU for good, even if you have access to some money offshore you won't want to be there if that happens.

 

[Martin Everson]

Digital Euro sounds like garbage. You basically need a bank or PSP to open and manage the account. Payments can be made online or offline but limits will be in place for offline payments. It is not at all like cash as there is no self custody or self wallet it seems. It's basically a bank/PSP hosted service like keeping your crypto on a crypto exchange.


https://finance.ec.europa.eu/digita...al-euro-and-legal-tender-cash_en#digital-euro

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Please note my posts should not be taken as financial or tax advice. Please seek professional advice in that respect.

 

[wellington]

sriracha said:
I think this will be the start of capital controls in the Eurozone:

https://twitter.com/x/status/1898704322889662846

Now my question is: let's say I am a resident of Germany, and I have a bank account in a NON-Euro country, in the local currency (let's say Georgia, or Armenia, or Egypt, or Switzerland) registered to my address in Berlin, maybe an online bank or even a physical bank.

Let's also say that Germany comes up with something crazy like "borrowing" any sum above 10k euro in any bank account and giving it back in installments over 10 years (something similar to the corralito in Argentina) and because of the digital euro, they just take the money before people can even blink.

My money in the bank in the above countries is safe or not?
Click to expand...

Biggest problem is getting out of the CBDC into another currency - that's where the restrictions will be - if it's not a payment process that is.

 

[Monchip]

wellington said:
Biggest problem is getting out of the CBDC into another currency - that's where the restrictions will be - if it's not a payment process that is.
Click to expand...

Yea, OP should open an account in another country ( out of EU) before October or even better get a new residency in Latin America or South Asia.

 

[PassinBy]

Tether is looking better by the day. Was never expecting to write those words! 😵

 

[jorge]

Digital Euro sounds to me like something you don't want to touch at all if you like your privacy and freedom.