Friday 31 October 2014

Cowen decision proof of FF's cosy relationship with Anglo, says FG TD

Published 29/06/2013 | 12:07

The decision taken by then Taoiseach Brian Cowen to ignore the advice of his external advisers is further proof of the cosy relationship that existed between “Fianna Fáil, their developer friends and Anglo Irish Bank,” Fine Gael TD Dara Murphy claimed today.

“Further revelations in today’s Irish Independent centre around the decisions taken by Brian Cowen in 2008 and the lengths Fianna Fáil was willing to go to to save Anglo Irish Bank.

The Anglo tapes outline how, despite the fact that its own external advisers, Merill Lynch, urged the Government to shut Anglo down, Fianna Fáil pressed ahead and threw a €30 billion lifeline to the bank at the expense of the Irish taxpayer.

“Merrill Lynch’s assessment of Anglo at that time was that it was a ‘basket case’, however, despite these clear warnings about the ill-health of the toxic institution, Brian Cowen and Fianna Fáil pressed ahead and hoodwinked the nation, putting the burden of Anglo and their developer friends’ debts firmly on the shoulders of the Irish people,” the Cork TD claimed.

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