David McWilliams: The bank guarantee has done its job, so move on
Published 11/08/2010 | 05:00
WHEN I hear the new boss of Anglo urging the Government to extend the bank guarantee, I know the right thing to do is precisely the opposite. Put in its most simple form, what is good for Anglo is bad for Ireland.
The only course of action is to close this thing down, together with Irish Nationwide, as soon as possible. Nobody will miss either, once depositors -- particularly of Nationwide -- are looked after. Looking after depositors is easy to do. Believe me: we will miss Hector Grey's more than Anglo.
We are being presented with the usual line that "there is no alternative to saving Anglo." And now the EU Commission has given its permission for our Government to continue to spend your money bailing out Anglo.