Monday 16 January 2017

'Night of guarantee' myth only partly debunked

Published 28/01/2016 | 02:30

Former Taoiseach Brian Cowen
Former Taoiseach Brian Cowen

The 'night of the guarantee' is something of a myth, according to the Banking Inquiry team.

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They argue that the concept of the State guaranteeing the banks was first raised in January 2008 - nine months before the panic button was pressed.

The report also suggests that former Taoiseach Brian Cowen was wrong when he told the inquiry: "We had one shot at it, or Ireland could have been set back 25 years."

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