Tuesday 24 January 2017

Lenihan claims his bank guarantee warded off 'financial nuclear winter'

Published 05/09/2010 | 05:00

Finance Minister Brian Lenihan has said that, had the Government not introduced the €440bn bank guarantee in 2008, Ireland would have been cast into a financial nuclear winter.

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His comments are made in a new RTE documentary, Freefall, which will examine how the most significant financial decision ever taken in Ireland came about.

The documentary, which begins tomorrow on RTE One at 9.30pm, charts the two weeks between the collapse of Lehman Brothers in the US and the night of the Irish guarantee, when Irish banks -- particularly Anglo -- came under phenomenal pressure and headed toward disaster.

Gardai uncover massive diesel plant

GARDAI and Revenue officers were yesterday continuing with searches in Co Monaghan after one of the biggest-ever illegal diesel-laundering plants was discovered.

The illicit fuel-mixing plant was located at Rebane near Shantonagh, half way between Castleblayney and Ballybay, and revenue officers also found a number of specially laid 'soil-beds' to absorb the sludge from the removal of colouring from tax-rebated fuel.

President celebrates Community Alert

President Mary McAleese yesterday marked 25 years of Community Alert with a visit to Tipperary town. Muintir na Tire set up the programme in 1985 in response to a number of attacks on the elderly in rural communities.

No winner of €2.7m Lotto jackpot

THERE was no winner of last night's €2,711,721 Lotto jackpot. The numbers were 5, 10, 11, 23, 26, 38 (bonus 20).

There was one Match 5+bonus winner, who gets €25,000; 65 Match 5s (€1,277); 164 Match 4+bonus (€127); 2,754 Match 4s (€46); 3,879 Match 3+bonus (€22); and 45,046 Match 3s (€5).

The Lotto Plus One numbers were 2, 22, 24, 33, 34, 45 (bonus 25) and the Lotto Plus Two numbers were 10, 17, 18, 20, 26, 43 (bonus 25).

In the UK draw for £4.4m, the numbers were 16, 19, 26, 27, 41, 47 (bonus 34).

Publisher plans schoolbooks for €12

A Kerry print company billing itself "the Ryanair of the book trade" is preparing to take on Ireland's biggest publishers in a David and Goliath battle it claims will result in cheaper schoolbooks for students.

The Walsh Colour Print Company in Castleisland, Co Kerry is launching a series of school textbooks that it claims will save parents hundreds of euro each term.

"Our aim, by this time next year, is to have no textbook costing over €12 -- in comparison to the €35 a schoolbook being charged by other publishers," said MD Tony Walsh.

Aer Arann has seven potential buyers

Seven expressions of interest have been received from potential buyers for Aer Arann, with a sale of the airline likely to be sealed within a few weeks.

It is understood that expressions of interest have also been made by leasing firms, which may be interested in acquiring Aer Arann's fleet of 12 aircraft at a discount.

Talks continue over Poolbeg contract

TALKS to extend the contract to build the controversial €350m Poolbeg incinerator continued over the weekend.

The original contract between Dublin City Council and Covanta Energy to build the incinerator ends today, but its expiration was described by sources as a "technicality".

Both parties "remained committed to bringing it to fruition", a source said.

Trinity named as university of year

Trinity College Dublin has been named Sunday Independent University of the Year. Published today in this newspaper, TCD beat off competition from UCD and UCC to the top spot. See pages 18 & 19

Anglo chief Dukes upbeat on Arnotts

Anglo Irish Bank chairman Alan Dukes said he is happy that the takeover of Arnotts would preserve both jobs and the store's brand name. Arnotts was placed under the control of Anglo Irish Bank and Ulster Bank in July.

"What we've done there will improve the return to Anglo Irish," said Mr Dukes.

Meat Loaf back for Hang Cool tour

Meat Loaf is back! Following his fantastically received US shows this year, the flamboyant singer will be returning to Irish shores for the latest leg of his 'Hang Cool' tour.

He plays the O2, Dublin (Dec 18), and Belfast's Odyssey (Dec 20). Tickets go on sale this Friday at 9am.

NTA approves closure of railway line

The National Transport Authority (NTA) has approved an Irish Rail proposal to close the Rosslare-Waterford rail service. Meeting in Dublin on Friday, the authority decided to go along with Iarnrod Eireann's argument that the line was no longer economically viable.

A date has not been announced for closure and protests are expected in the area in an effort to keep the line open.

Chadwick's director leaves over €31m

A retired director of building supplies firm Chadwick's has left more than €31m in her will, which went to probate last week. Esther Chadwick, of Alpena, Malahide, Co Dublin, left estate valued at €31,863,488 in her will. Ms Chadwick has two sons, Michael and Peter, who are still involved in the well-known hardware business.

Other wills: Helen Prichard-Jones, Lucan, Co Dublin, €5,744,980. Sheila Tinney, associate professor, Rathgar, Dublin, €2,173,211; Mary Sleator, widow, Grangecon, Co Wicklow, €1,503,580; Alastair Michael, obstetrician, Bray, Co Wicklow, €1,336,859; Bernard Judge (otherwise Bernard Simcox), farmer, Rochestown, Cork, €1,314,957; Lynn Plunkett, accountant, Terenure, Dublin, €1,029,388 and Elizabeth Elworthy, Dartry, Dublin, €1,022,374.

The value of wills include property, including the family home, and should not be regarded as cash amounts.

Sunday Independent

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